The laundry industry may seem straightforward to the casual observer, but many variables contribute to a business owner’s success. Whether purchasing an existing laundry business or starting a new one, entrepreneurs must understand core business principles, financial planning, laundromat management, marketing and design, customer relations, equipment service and maintenance, construction, and much more.
However, the laundry business is an excellent choice for new and experienced investors for plenty of reasons. The business is recession-proof, as characteristics of an economic downturn actually drive business to laundromats. Fewer people own their homes, they replace home appliances less often, but they still need clean clothes. After the initial investment is made to start a laundromat, business owners can look forward to being part of an industry with high potential ROI – often reaching 25-35% within the first year.
Why Start a Laundry Business?
- Accelerated ROI
While other businesses may have a waiting period before they become profitable, a laundromat begins to generate income from opening day. This results in a potentially profitable return on investment – sometimes reaching 25-35% in the first year. Additionally, the laundry business has a low barrier to entry, accelerating your path to profitability even further. Unlike other businesses, there are no specific certification or educational requirements for laundromat owners, making a laundromat straightforward to start.
- Variable Time Commitment
Laundromats come in various shapes and sizes and will require different time commitments of an owner depending on the type of services offered and the number of employees. A self-service laundromat is a great candidate for a side hustle, that can be maintained in addition to a regular, full-time job. Wash and fold, curbside pickup, or delivery services require more effort and oversight. A laundromat allows investors to create a business that works for them.
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