Many new entrants to the Coin Laundry Business have this obvious question, whether to build a new Laundromat or to purchase a used one. In both cases you have many advantages, however building a new Laundromat is a relatively long process and involves risks. You should do your due diligence on the industry and the location before making a decision. The next option is buying a renovated Laundromat, usually it is not a good idea to go after these Laundromats. Old Laundromats are purchased and renovated by brokers and they then sell the Laundromats showing higher projected revenue due to the renovations. The price quoted by them will be high, so one should try to avoid these Laundromats. Lots of people have lost large amount of money in this business due to brokers greed. 
 

With that said, there are many advantages in building a new Laundromat. You get to select the layout of the Laundromat, it has higher income potential, have new equipment and generally better lease terms. Once you have decided build a new Laundromat, get in touch with minimum 3 different companies who specialize in Laundromat construction. Ask them to provide details regarding the following: