If you’re looking for a recession-proof business with steady, year-round income — an enterprise that’s easily scalable and has low labor costs — then opening a laundromat might be for you. The flexibility coin laundries offer make them suitable for many different types of entrepreneurs; whether you want to bring in extra income by running a store on the side, or you want to build a laundry empire, with smart management and the best coin laundry equipment you can achieve your business goals.
Advantages of Owning a Laundromat
Laundromats Provide a Steady Income
Clean clothes are a necessity; so no matter the time of year or the state of the economy, your business can count on a regular flow of customers.
Easy to Operate and Low Labor Costs
In a laundromat, your customers provide much of the labor themselves. Of course, your store must be cleaned, and you may choose to offer extra services, but compared to other retail type businesses, laundromats incur very low labor costs.
There Are No Receivables and No Inventory
In the laundromat business, your customers pay upfront for your service, so you will never need to chase payments. And, no inventory means your business will not have capital tied up in unused stock.
Laundromats Offer Flexibility
Because it is possible to leave your store unstaffed, the laundromat business offers great flexibility and, with LaundryPulse, it’s now easier than ever! Depending on your needs, you may choose to man your store during specific hours or even run it remotely.
You Can Create a Hybrid Business…
Many owners will choose to maximise the utility of their space by combining their store with a second business. Hybrid laundromat cafes are becoming popular in urban centers and college towns across North America. Customers enjoy socializing while they wait for their laundry, and owners see increased profits and an expanded customer base.
…or Increase Profits by Offering Extra Services
Everyone has a busy schedule, many people are finding they don’t have time to do laundry. This has given laundromat owners an opportunity to increase profits by offering wash & fold services to these customers.
Are you starting a laundromat? Laundrylux has over 60 years of experience in helping entrepreneurs across the USA and Canada run profitable laundry businesses. We offer financing and marketing support, and our Electrolux & Wascomat coin equipment boasts low running costs, rugged durability, and stellar wash results. Contact us to speak to a laundry expert today.