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Laundry Equipment Financing Tips

Laundry Equipment Financing Tips

Everyone wants to keep their clothing presentable and in good condition, and laundry is a chore on most people’s to-do list. If you manage a commercial laundry facility, you must have the highest-quality equipment you can afford to earn customers’ trust and stay ahead of your competition.

By updating your laundry equipment, you can provide people with reliable machines that give them cleaner clothes. Luckily, a solution to that problem allows you to secure the new washers and dryers your business needs to thrive. 

Equipment Funding Solutions for Commercial Washers and Dryers

Your business might need new laundry equipment, but the upfront cost can be a barrier. With financing, you can upgrade even if you lack the capital.

Laundry equipment financing is an easy way to gain a competitive advantage and ensure you always have dependable, efficient machines. There’s nothing more inconvenient than needing to do the wash and dealing with a leaky washer or a faulty dryer. The resulting negative reviews can damage your property’s reputation.

Investing in Commercial Laundry Equipment

Here are some laundry equipment financing tips to consider if you need to upgrade your appliances. 

Set up Your Laundry Room

Before comparing commercial washers and dryers, determine your laundry room’s size and design. You don’t want to buy more equipment than you can fit into the room, but you also need enough machines to reduce wait times and increase resident satisfaction.

Part of increasing customer satisfaction is also prioritizing their comfort. Simple things like being mindful of washer or dryer positioning can make a significant difference.

Benefits of Upgrading

Benefits of Upgrading

If you are unsure whether to take the next step and upgrade your appliances, understand the potential advantages. You can expect some of these benefits when you update your laundry equipment. 

Financing Machines

Before buying new equipment, understand how to finance a washer and dryer and choose the suitable machines for your business. 

The Cost

Various factors affect the cost of commercial washers and dryers, including the model you purchase and where you get it. Well-known brand names like Whirlpool, Maytag and Speed Queen cost between $800 and $2,200. While dryers typically cost less, they are near the same price range. Your chosen brand will influence your purchasing decision and what you can afford to pay back. 

Choosing New Machines

If you have already started looking at new commercial laundry equipment, consider who will use it. What do people need and expect when using dryers and washers? Understanding their requirements will make the hunt for the best appliances much quicker. Considering these factors will also increase customer satisfaction.

Maintenance is also essential when buying appliances. Whether you do the upkeep yourself or hire someone, keeping your equipment in good condition will save you money on future repairs. 

How to Get Approved

Once you settle on your equipment, start researching payment methods to find a solution that fits your budget. You have two options — buying or leasing. Businesses like coin laundromats and apartment complexes will likely need financing to replace multiple commercial washers and dryers simultaneously.

You can get a low-interest business loan from your bank. These can have reasonable interest rates and more generous terms, but check the fine print before signing the paperwork. Leasing your laundry equipment may be a more affordable option that makes sense for your business. 

Invest in Quality Laundry Equipment 

Invest in Quality Laundry Equipment

 Access to on-site laundry facilities is an appealing amenity that can improve your property’s reputation and attract new tenants. Your budget should not be an obstacle to providing your customers with a better laundry experience. Use financing to take your business to the next level. 

Caldwell & Gregory is the top in-house equipment financing choice for multi-housing property managers in Florida. We offer complimentary, professional installation, and we love helping our clients upgrade their laundry rooms. Contact us today to request your quote.