In the coming months, we’ll be rolling out a series of blog posts for all of you ambitious entrepreneurs out there who want to know how to start a laundromat.
Laundromats can a be a wonderful business for many different types of people. Some laundromat professionals own and operate multiple stores, while some own one large store and offer extra services like wash & fold. Quite a few owners have full-time careers and operate a self-serve laundry store as their side-hustle, while others plan to run multiple laundromats from home with the help of the latest laundromat management technology. This series will explore it all!
What to expect?
In this upcoming series, we’ll go over the basics of starting a laundromat business. We’ll answer all your questions, like:
✓ How to know if the laundromat business is for you?
✓ Who uses laundromats?
✓ How do you find a laundromat location?
✓ How can you secure financing for your new venture?
✓ What type of laundry equipment do you need?
✓ What are the benefits of the different types of laundromat?
✓ How is technology changing the laundromat business?
Are laundromats profitable?
Before investing time reading about how to start a laundromat, it’s reasonable to ask whether it’s worth it. Well, successful coin laundry businesses average an ROI of 20-35%. So the answer is a definitive yes — laundromats are profitable.
Are laundromats a safe investment?
The survival rate of coin laundries is over 95% after opening, compared to 66% for the average small business. The main reason for the robustness of laundromats is usually explained by the recession-proof nature of the business —no matter how the economy is performing, people need clean clothes.
Do you have any questions? Laundrylux has been helping people open and operate laundromats for over 60 years. We’re here to help you achieve your business goals. Contact Laundrylux today!