Coin Laundry calculations
Hi everyone,
I hope you all are doing well.
I am trying to calculate how much income a coin washer and dryer makes. I currently have a converted four-plex and I am thinking about adding a coined washer and dryer during the rehab, but the budget is tight and it might have to wait. I plan on turning a utility room into a laundry room.
On average how much does a coin washer and dryer generate with 4-7 people?
With that few people, on a contract, you'll probably never see a dime. Managing the machines yourself, you'll also probably spend too much fixing/maintaining them. It shouldn't be seen as a revenue stream with 4-7 people, but rather a way to attract tenants because if you don't have some way to do laundry in the facility, it gives off a pretty slum-lordy vibe tbh and it will affect your market rent, depending on the area. That's just my 2 quarters lol
Thank you for the two quarters.
How many units of a property or people using them is a good minimum for the machines to be profitable?
