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Setting Up a Self Service Laundromat Company

Updated: Feb 11


Setting up Self-Service Laundromat Company | Bestar
Setting up Self-Service Laundromat Company |Bestar


Setting Up a Self Service Laundromat Company


Laundromat are premises where washing machines and drying machines are provided for use on a self-service basis. Examples include coin-operated laundry.


You are entrepreneurial, willing to get hands-on and manage this business personally, does not need to be full-time, but needs focus and attention?


Top 6 Reasons to Invest in a Coin Laundromat


  • Stable, mature and proven business

  • Provide services and solutions to human needs

  • Recession proof

  • Zero inventory

  • No staff or labor issues

  • Cash business


Opportunity


  • A huge densely populated housing estate

  • Lack of laundry space in new apartment

  • Double income family

  • Extended family

  • Renters

  • Tourists


Join the Fastest Growing Companies


Few businesses can match laundromats with an average ROI of over 30%. Quick break even in 2 1/2 to 3 years.


Investment


1. Shop area 300 to 400 square feet

Fittings and fixtures

Washer: 2 x 11kg, 2 x 16kg and 1 x 20kg

Dryer: 2 x 16kg stacked (4 pockets)

Coin changer


Approximate capital expenditure: S$135,000


2. Shop area 500 to 600 square feet

Fittings and fixtures

Washer: 4 x 11kg, 2 x 16kg and 2 x 20kg

Dryer: 4 x 16kg stacked (8 pockets)

Coin changer


Approximate capital expenditure: S$200,000


Considerations for Property Use


Depending on the type of property you have in mind, you may need to apply for planning permission. Find out whether a laundromat can be allowed at your property.


How Bestar can Help


Bestar is a leading accounting firm in Singapore that offers a variety of services to businesses of all sizes. We can help you set up and manage a self-service laundromat company in Singapore by providing the following services:


  • Accounting and bookkeeping: Bestar can help you set up and maintain your accounting system, track your income and expenses, and prepare your financial statements. This will help you to stay organized and make informed business decisions.

  • Tax preparation and filing: Bestar can help you prepare and file your tax returns, ensuring that you are in compliance with all applicable tax laws.

  • Payroll services: Bestar can help you process your payroll and pay your employees accurately and on time. This will save you time and hassle, so you can focus on running your business.

  • Financial planning and analysis: Bestar can help you develop financial plans and budgets, and track your financial performance against your goals. This will help you to make informed decisions about your business's future.

  • Business consulting: Bestar can provide you with general business advice and support. They can help you with everything from developing your business plan to marketing your business.


In addition to the above services, Bestar also has experience working with laundromat businesses. We understand the unique challenges and opportunities that laundromats face, and we can provide you with tailored advice and support.


If you are interested in setting up a self-service laundromat company in Singapore, Bestar is a great resource. We can help you with all aspects of your business, from accounting and tax to financial planning and business consulting.


Here are some additional tips for setting up a self-service laundromat company in Singapore:


  • Choose the right business structure: The business structure that you choose will affect your taxes, liability, and personal assets. It is important to choose the right business structure for your needs.

  • Get the necessary permits and licenses: You will need to obtain the necessary permits and licenses from the Singapore government before you can start operating your laundromat. Bestar can help you with this process.

  • Purchase insurance: It is important to purchase insurance to protect your business from financial losses in the event of a lawsuit or other unexpected event. Bestar can recommend reputable insurance providers.


By following these tips, you can increase your chances of success in the self-service laundromat business in Singapore. Contact us today!

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