From what I hear, 15 years is the end of the expected lifespan on machines. Maybe they can be pushed a little farther, especially the dryers, but you should expect to need to do a complete re-tool and soon.

As to the cost, well, I’m also a newbie and beginner so I would really like the answer to this too. I’ve heard quotes ranging from $150,000 to $600,000, and I always find that wide of a range to be useless. Obviously the size and quantity of the machines and the brand make the difference, but what is more common? Can it be done for less? (Should it be done for less?) I don’t know. I’m looking at an older laundromat as well and I’m struggling to tell whether it’s worth retooling or not.

If you haven’t yet, you should join the weekly webinars on acquisitions and valuations.

You should talk with a couple local laundry distributors to get an idea of what a retool would cost. In many situations the cost of the equipment is just part of the retool. You have sales tax, installation, maybe infrastructure improvements like make up air, troughs or plumbing. You could also need cosmetic improvements, flooring, lighting and painting. Top loaders can be $1100 to $1800, soft mount 20’s could be $1800 to $2800, hard mount 40’s could be $6000 to $9000 and 60’s could be $8000 to $12000. These are all rough ballparks because this does very by manufacturer and I don’t know what everyone charges to be honest.

Hard mounts 15 to 20 years but you may not want to keep them that long.

Soft mounts 10 to 15 years and they tend to break quite often after 10 years.

Dryers 20 to 30 years but then again you may not want to push them that far.