For over 65 years, Laundrylux has been helping new investors on their journey to success in the laundry industry. People from all walks of life, backgrounds, education levels, and work experience have come to us for assistance, and we’ve partnered with some incredible entrepreneurs in building countless multi-store businesses. We believe that anyone with dedication, ambition, and a willingness to learn can succeed in the industry and generate serious profit for themselves and their families while serving their communities. No one knows more about the laundry business than we do – that’s why we’ve put together this 7-step guide to help our future partners learn everything they need to know about opening a laundromat.
Did you know that Laundrylux offers turn-key solutions for new investors in the laundromat industry? Take your first step and contact us today!
- Understand the investment potential of a laundromat
- Choose your laundromat location
- Decide whether to build a new laundromat or buy and retool an established store
- Get to know your neighborhood and identify your target customers
- Choose Next Level washers and dryers
- Maximize customer experience with laundromat accessories and facilities
- Market your store to attract customers
Understand the investment potential of a laundromat
First things first – before you begin researching the laundromat business, you’ll want to be sure that a laundromat is a good investment! Having helped countless entrepreneurs succeed in the coin laundry industry over several decades, we can tell you with confidence that opening a laundromat is a great way to invest your time and money.
Successful laundromat owners can expect a higher ROI (20-35%) than other popular stock or real estate investments and the industry has a high survival rate, with 95% of businesses still thriving after five years. Laundromats are also recession-resistant and pandemic-proof because clean clothes are a necessity, not a luxury. Whether the economy is booming or in a downturn, your customers will always need this essential service. When you open a laundromat, you invest in a business with proven high returns while providing a vital amenity for your community.
If you have the drive to enter the laundromat business, nothing is stopping you – there are no franchise fees and no industry certificates to study for. You can even get started today! Setting up a new laundromat will initially take time as you get to know your customers and their needs, but there is generally very little maintenance once you get established. Depending on the type of store you want to open, you could manage your laundromat in just a few hours every week.
Did you know that 95% of investors get financial assistance when opening a new store? Laundrylux Funding Services provides low rates and fast approvals specifically tailored to the needs of laundromat owners. Apply today to see how much you could qualify for!
Choose your laundromat location
Finding the right location is essential to the success of your new laundromat, and you’ll also need to assess the competition in your target area. Are there established laundromats in the neighborhood? Are they new stores with modern equipment or older stores that have seen better days? Are there any plans in the area for a new block of apartments that suggest to you that the place could support another laundromat? Once you are confident that the neighborhood has room for your new laundry business, you’ll want to drill down further and find the perfect location for your store. A lot with good visibility and footfall will help to get you noticed by passersby, and ample off-street parking will be a huge plus for customers with heavy loads of washing. If your store is near a supermarket, your future customers will love being able to do two chores in one trip. Choosing the right location for your new store is one of the most important decisions you will make on your journey – get it right, and you’ll be on to a winner!
When you partner with Laundrylux, our team of real estate specialists will be on hand to find you the best available locations in your target area. Whether you plan to build a new store or purchase an existing laundry business, we’ll conduct an extensive survey to locate your perfect place. Contact an expert today to see how we can help!
For more tips on choosing the right location, check out our article on the topic!
Decide whether to build a new laundromat or buy and retool an established store
When choosing your location, you’ll also need to decide whether you will build a new laundromat or purchase and renovate an existing laundry business. There are advantages to both options, and whichever path you choose will likely be influenced by several starting factors. In buying an established store, you are purchasing a clientele along with the business, as well as whatever laundry equipment is already in place (though it’s likely that this will need upgrading). However, it may be that there are no suitable businesses for sale in your target area, and you might decide that the demographics can support a brand-new laundromat. Our experts can help you weigh up your options and determine what route will be the best for your new laundry business.
Learn more about building new VS retooling in our related article!
Get to know your neighborhood and identify your target customers
One of the most important aspects of the laundry business is the relationship you have with your customers. Offering excellent customer service is essential to building loyalty and fending off competition from other laundry services in the area. It’s a good idea to get to know who your customers in your target neighborhood are before you open, so you can think about what services you can offer them. If there is a college campus nearby, how about offering a student promotion during off-peak hours? If your laundromat is near a holiday resort, can you save your visiting customers’ time by providing a wash and fold service? If there are elderly residents or busy families in the area, would you be willing to do a delivery service as an extra source of income? Working out who your customers are likely to be and thinking of ways to tailor your service to fit their needs will be necessary if you want to boost profits to rise above the competition.
Did you know that Laundrylux will provide a full demographic survey of your target neighborhood? This will help to determine the kinds of people living in the area and whether or not a new laundromat will be able to thrive.
For more information on neighborhood demographics, check out this article!
Choose Next Level washers and dryers
Your goal as a laundromat owner will be to provide the best possible laundry service to your customers while keeping running costs to a minimum. Happy customers keep revenue coming into your business, but if you’re not careful, that income can escape through high water, energy, and sewage bills. There are certain fixed expenses a store owner has little control over, such as insurance and loan repayments. However, your utilities can most certainly be targeted, and how you go about lowering them will determine whether or not you succeed in the coin laundry business.
Electrolux Professional is the only Energy Star Rated laundry equipment in the industry, delivering the most advanced cost savings and allowing your profits to climb to the top.
The combination of 450G High Spin Washers and High-Efficiency Dryers takes laundry to new heights providing superior:
- Energy Efficiency
- Performance
- Customer Experience
- Profitability
Why choose Electrolux Professional?
- High-Spin washers provide a deeper clean and extract the maximum amount of water from the load. This significantly reduces drying time and energy consumption.
- Automatic Water Savings precisely weighs every load and introduces the exact amount of water needed for the perfect wash, cutting water bills by 50%.
- A lightning-fast throughput of 45 minutes will enable you to clean your customers’ laundry faster than any other store in town!
- High-Efficiency Dryers not only reduce energy consumption by 40% but provide best-in-class linen protection. Reversing cylinders stop wear and tear caused by tangling, and the innovative Eco Power feature protects clothes from too much damaging heat.
- The only HACCP-certified Sanitizing Rinse in North America will give your customers the peace of mind they won’t get anywhere else.
Maximize your customers’ experience with laundromat accessories and facilities
Laundrylux is a one-stop shop for all your coin laundry needs, including laundromat accessories. We supply our customers with top-of-the-range products to complete their stores to the highest standard.
Essential laundromat accessories
- Change machines (for coin-operated equipment)
- Laundry carts
- Vending machines for laundry soap
- Seating
- Folding tables
The accessories above are necessary for almost all laundromat businesses. But there are extra accessories that will make your customers’ weekly laundry chores more pleasant and maybe even enjoyable. Are you hoping to attract families to your store? Create a family-friendly atmosphere by adding a children’s play area. Do you want to make your store a place for professionals to visit after work? Big-screen TVs and free wifi will provide entertainment after a long day. Some customers might appreciate a vending machine with snacks and beverages while waiting for their laundry, and installing an ATM could be an added convenience. But you needn’t stop there – the trend of laundry cafes has taken off in recent years, and some laundromats even hold community events. A bit of research into what facilities your neighborhood is looking for could take you a long way!
Market your store to attract customers
Effective marketing is one of the best ways to get a new store noticed in the community. Creating memorable branding and a great-looking logo will help your laundromat stand out in people’s minds. If your store offers the fastest throughput in town, how will your customers know if you don’t communicate it with posters and store signage? Sending out flyers with details of your grand opening is a great way to create hype about your new store. It will also give future customers an idea of where to find you and the kind of services you will offer. And while you’re at it, why not advertise a free wash and dry for your first twenty customers? Once people realize that your store can clean their clothes faster and better than anywhere else, they’ll not only come back for more but will be sure to tell their friends and family.
Did you know that when you partner with Laundrylux, you’ll have access to our complimentary marketing service? Our team of skilled graphic designers, content creators, and web developers will provide you with everything from a personalized logo to a brand-new website. Get your store the attention it deserves from day one!
Ready to take the next step? Contact Laundrylux today to start your journey!