If you have a business that requires the use of washers and dryers, chances are, at some point, you've thought about leasing laundry equipment. The decision to lease laundry equipment can provide you with modern machines, while you save your capital funds for other business expenses. Additionally, laundromat equipment leasing will help you avoid having to pay for expensive repairs if the machines break down.

Laundry equipment leasing pricing and costs can vary widely depending on whether you lease new or refurbished laundry equipment, what type of equipment you lease, and how much equipment you need. So, before you sign a laundromat equipment lease, ask yourself:

1. Do you need a laundry equipment lease for a coin-operated laundromat business?

2. Do you want to lease laundry equipment for private business use in a place such as a hotel or restaurant?

3. And, do you need laundry equipment financing?

Action Steps
The best contacts and resources to help you get it done

Lease laundry equipment for a laundromat business

If you want to open a new laundromat or replace the machines in an existing laundromat, then you may want to consider leasing laundry equipment. Leasing laundry equipment will reduce your initial expenses, compared to buying. The exact cost depends on how many machines you get and the make and model of the machines. But, expect to pay somewhere around a couple thousand dollars per month for 20 to 30 machines.

I recommend: MacRAE's BLUE BOOK from Owen Media Partners lists dozens of companies that lease laundry equipment. Its website enables you to submit a form for a free personalized quote. Also, check out Laundry Today from TerranTribune for a good article that weighs the cost benefits of leasing laundry equipment.

Lease laundry equipment to wash and dry linens at your business

For a couple hundred dollars per month, you can avoid having to purchase, maintain and repair washing machines and dryers at your restaurant, hotel or other non-laundromat business. A laundry equipment lease lets you focus on your business, and not worry about whether the linens will get clean.

I recommend: Continental Girbau helps you design your on-site laundry operations and offers tips for reducing costs. To get a detailed quote for a laundry equipment leasing for your business, contact a distributor in your area by entering your zip code at Alliance Laundry Systems.

Obtain laundry equipment financing

If you need to obtain a large number of machines, then you may have trouble closing the deal without laundry equipment financing. Financing laundry equipment can be done through many major suppliers, and financing rates are as low as 8%.

I recommend: 4Leasehelp offers several types of programs to finance the lease of laundry equipment, including standard commercial leases, and an application-only express lease. Haiges Machinery gives a good example of some of the financial terms and costs of laundry equipment financing.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Leasing laundry equipment can provide your business with tax savings. If you decide to lease, then be sure to mention it to your accountant.

Laundry equipment leasing allows a business owner to use laundry equipment that may be out of his or her price range. A lease often lowers the monthly payment price for laundry equipment while providing businesses with the ability to use better quality equipment than they could afford.

With a laundry equipment lease, you also have the option of upgrading your laundry equipment at the end of the lease without having to purchase new equipment. This can reduce the cost of replacing damaged equipment or equipment that underwent a high quantity of wear and tear. Before you lease laundry equipment:

1. Determine what type of laundry equipment financing works best. Companies offer different types of leases, so evaluate each option.

2. Consider the options at the end of the lease. You may want to buy out the lease company to own the equipment, upgrade to new equipment or consider another alternative.

3. Read the fine print to see what the lease company includes in the finacing; some companies will cover soft costs like shipping, while others won't.

Action Steps
The best contacts and resources to help you get it done

Find companies that offer flexible laundry equipment financing

Very few business owners fit into a one-lease-fits-all qualification. You need to find a company that offers solutions that work best for your budget and your needs. The more options a lender offers, the better your chance of finding a solution with which you can work.

I recommend: LeaseLine provides approved clients lease puchases, operating leases and flexible payment options. Harbour Capital works with you to find the best lease option.

Turn to specialized companies to finance laundry equipment

While you can get leasing from any equipment company, you might prefer to work with one specific to your industry. Look for companies that have several years of experience. This can help ensure you know all the fees upfront.

I recommend: Haiges Machinery specializes in financing laundry equipment for dry-cleaners, laundromats and other commercial laundering businesses. It has five generations of experience in the industry and offers three locations to serve its clients. Viking Financial works with Wascomat to create a financing option tailored to your needs. It has provided over 20,000 clients with financing options specific to the industry.

Work with companies that allow you to lease pre-owned laundry equipment

Used or refurbished laundry equipment often costs less than new pieces. Many companies only offer financing on new equipment, so if you consider this option, you need to find one of the companies that provides leases for used equipment.

I recommend: Trident Leasing Group offers flexible equipment leasing and end-of-lease options for new and used equipment. Dexter Financial, founded in 1991, specializes in laundry equipment leasing for dry cleaning and laudromats. It offers pre-owned equipment on its website.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Leasing laundromat equipment can offer many tax benefits. Ask your lender or a certified CPA what these are to find out how you can take advantage of these benefits.