Did you know that you should wash your white shirts after every single wear? Gym clothes should also be washed after every wear and jeans after every five wears.
Laundry facilities on premises can make the life of residents easier. If you are considering on-site facilities, keep in mind that laundry room installation costs can be higher than you anticipate because of hidden costs.
It’s not just about the cost of your equipment. Before you make a decision to maintain an on-premises laundry room, keep on reading to understand all the hidden costs.
1. Cost of Space
First, consider the cost of the space. Your communal laundry room will need its own space. If you don’t have any space, you will need to spend money on renovations to create the space.
The renovations will involve wiring and plumbing, and sometimes a complete overhaul of your premises. It also includes potential upgrades in the future to accommodate changing needs.
2. Laundry Room Repair Costs
The cost of a laundry room includes repair costs when the equipment breaks down. Even the toughest commercial laundry facilities will have to deal with repair costs. Repair costs for a washing machine include the labor costs, cost of replacement parts, and the brand of the washing machine at an average cost of $50 to $180.
3. Ongoing Laundry Room Maintenance
To avoid repair costs, you will want to conduct ongoing maintenance to ensure that your equipment runs well. This can save you money in the long term, including damage to your building caused by leaks. Ongoing maintenance includes replacing water hoses, cleaning filters, and cleaning the equipment.
4. Utilities
You will also have to deal with utility costs, including water and electricity. These costs will increase as your equipment ages, or your equipment breaks down.
The cost will also vary depending on usage. While a portion of the utilities can be offset by the profits, inefficient machines can end up increasing this cost.
5. Liability Insurance
Your on-premise laundry facilities can lead to damage to your building, including water damage, fire, and vandalism. To protect your commercial property from these damages, you want to make sure that you have the right coverage with liability insurance. You can also get sued if someone gets hurt in your laundry room.
However, this will add to the cost of your laundry room. The premiums that you pay will depend on the age of your equipment, the number of apartments and residents, and the location of the building. You can get coverage for property damage, loss of income, equipment breakdown, and sewer backup.
Contact Us for Your Laundry Room Solutions
You now know all about the hidden costs of a laundry room. It’s not just the cost of the equipment that you have to keep in mind, but the cost of the space, repair costs, and ongoing maintenance.
Contact us to find your laundry room solution today. We provide coin-operated equipment and services while offering generous commission and flexible lease terms. With our top-quality service, you don’t have to inconvenience residents or lose out on profits with equipment that doesn’t work properly.