laundry mat

laundromat

One of my old Internet friends from years ago did, and got very involved in the industry. He seems to be doing very well for himself, but I've seen him comment on a Facebook post where people were saying you can only become a millionaire by starting a laundromat if you started off as a billionaire

nope. factories to produce rugs (I'm assuming you talking about bathroom towels for in front of the shower?) are not going to be that cheap. and that's just the business and tools, who knows if they even own the building

Laundromat.

Just the building with no equipment? In most areas of the US, yes. Building with equipment? Doubtful unless it's already clapped out.

Running a laundry mat is all fun and games until a bunch of oilfield dudes come through and trash 5k worth of washers.

It would highly depend on your area. Maybe in a small town but you'd also struggle for customers potentially.

The biggest factor would likely be the property lease and associated costs like property taxes. You'd also probably have 40-80k in machines depending on the number and quality. Overall upkeep would likely be relatively cheap as far as businesses go but you would likely need more than 100k in capital or loans to get it started.

There are a ton of videos on YouTube about people who own/have owned a laundromat. Very insightful.

Depends on where you live. If you can find a large enough building and renovate maybe. A pre existing building with all the machines already there would likely cost much more.

Running a business isnt really simple though. Lots of things to take into account. Taxes, overhead, inventory, maintenance, customer service, and thats just off the top of my head.

Just find out who runs the local protection racket and get them to invest in your laundrymat in exchange for services /jk