Opening a laundromat can be a lucrative venture, but it requires significant initial investment. The average cost to open a laundromat ranges from $200,000 to $500,000. This amount covers expenses such as leasing or purchasing a location, renovating the space, and purchasing commercial-grade washers and dryers. Additional costs include utility upgrades, installation fees, and business licenses. It's essential to factor in working capital for the first few months to cover operating expenses before the business becomes profitable. Strategic planning and efficient use of resources can help manage these costs effectively and set the stage for a successful laundromat business.