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investment cost

[By Dave on February 09, 2006 at 08:09:53] [ REFRESH PAGE ]
[In reply to: coin up laundry investment posted by anup desai on February 06, 2006 at 06:52:57]

that's a difficult question to answer directly. some things to consider:
- how many machines will you need?
- will you buy or lease them? / will them be new or used?
- how much will the building lease be?
- will you be paying employees?
- how much do you want to spend on marketing and promotions (e.g., free dryers for the first 3 months)

Best thing to do is to place some phone calls to your potential suppliers (machine manufacturers, landlords, etc.) and start drawing up a budget. Then, start estimating how quickly your business will pick up (is there pent up demand such that you'll be getting a good crowd the first week or will it take longer for customers to trickle in?). Once you have an idea of the costs and revenue, you can start estimating how much money you'll need to put into the business before it starts generating enough cash to cover expenses.

By the way, always plan for it to take more money than you planned. :)

Comments and responses:
  • Jaylen - Lance - 09:01:16 06/23/06 (0)
  • Luc - Spenser - 12:02:55 06/21/06 (0)
  • Luc - Spenser - 12:02:50 06/21/06 (0)
  • Gage - Felipe - 00:59:21 06/19/06 (0)

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