Coin Laundry Business Plan

Coin Laundry Business Plan-33
Laundromats are so ingrained in the American landscape that it is considered to be a mature market.Laundromats have become a canny choice for investors and entrepreneurs looking to play a minor role in the day-to-day operations of a business, who want to tailor a business to their exact wants and specifications—since most laundromats aren’t franchises—and who want the feeling of security that a laundromat’s steady income can bring.

Laundromats are so ingrained in the American landscape that it is considered to be a mature market.Laundromats have become a canny choice for investors and entrepreneurs looking to play a minor role in the day-to-day operations of a business, who want to tailor a business to their exact wants and specifications—since most laundromats aren’t franchises—and who want the feeling of security that a laundromat’s steady income can bring.

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Modern laundromats have had to constantly update and keep abreast of the current developments in laundry technology to stay competitive, including the addition of amenities such as free Wi-Fi, flatscreen televisions, vending machines, and children’s areas with family-friendly entertainment.

Some laundromat owners choose to stay open 24/7—upping their convenience factor—and some are completely automated, meaning an owner, manager or employee doesn’t need to be in the store at all, while some storefronts have several employees to help patrons with services like changing cash or coin into proprietary store credit for vends.

Locations near colleges and universities are also attractive, with the vast majority of students using the services of a laundromat.

It is also a wise move to make sure that the laundromat business you’re interested in buying is listed on search engines, as many first-time customers choose which laundry service to patronize based on a Google search for “laundromats near me”.

Even considering these new trends in the laundry industry, the basic model of the self-service laundry industry has remained the same as it was over 80 years ago.

Many things relating to the business model of laundromats has changed, however, including a higher return on investment with these more customer-oriented ancillary services and the ability for many owners to self-manage their stores remotely as absentee owners.

If you’re asking yourself if you should purchase a laundromat, this 6 point checklist will help you determine whether or not it’s the right investment for you.

The first laundromat, then called a “Wash-a-teria”, opened its doors in Ft. Soon, the popularity of laundromats exploded and storefronts spread across the country.

Coin-slot mechanisms gave way to digital card-operated payment systems, which give laundromat owners abilities to remotely manage their stores in capacities never imagined.

Today, there are some 35,000 laundromats operating in the United States, generating over billion in total revenue annually.

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