Whether you build or rent a facility, there are still a lot of costs.
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That could be opening another location in the city, expanding your current facility, or offering additional services (like dry cleaning or full wash-dry-fold service). Due to the flexibility, versatility, and necessity of the laundry industry, there's generally tremendous opportunities for growth. Potential for multiple locations and expansion.
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Plus customers pay upfront, which makes accounting and tracking easier. That means training, on-boarding, and labor is relatively minimal for yourself and employees, at least in comparison to many businesses. In a typical laundromat, the customers do the majority of the work washing and drying their clothes. Some investors even work another full-time job or use additional time to pursue a hobby more seriously. You're able to set your own hours and it's highly unlikely you'll have to be at your store 40 hours per week, especially once you get the hang of running your business. This is one of the biggest perks that many owners note about being a part of the laundry industry. Since people always need clean clothes, the laundry industry isn't impacted by economic recessions as much as some industries, like hospitality, tourism, and real estate. Not having to deal with scheduling and management responsibilities for a large team can make management, payroll, and other tasks easier. Many laundromats operate with minimal employees. You also won't have specific franchise rules to follow, meaning your business is yours to build as you see fit. Generally, laundromats are not franchised like a fast food or service chain may be, which eliminates pricey franchise fees. While severe weather and high or low temperatures may impact whether or not people venture out, people always need to do laundry, so there's not a lot of seasonal fluctuation to manage. Many businesses and their products fluctuate with various seasons and holidays. It also means you won't have to deal with preparing and storing large amounts of expensive inventory ahead of time. That means minimal ordering, rotating, or discarding products, which makes for easier management. Unlike traditional retails businesses, laundromats have very little physical inventory. How many businesses can say that? Not many. Before investing in a laundromat, here are the pros and cons you should consider before getting started. We've witnessed the successes as well as the struggles that laundromat owners have endured, and we want to pass the lessons we've learned on to new entrepreneurs. However, as with any business investment, there are risks to owning a laundromat which potential investors should carefully consider before diving in.Īs a leading laundry equipment distributor since 1980, Martin Ray has helped our fair share of laundromat investors get started. If you're considering opening a coin laundry business, congratulations! Laundromats can be highly profitable, recession-resistant, and flexible businesses, making them highly attractive for entrepreneurs. Why Investing in Laundromats Is Your Best Optionġ6 Pros & Cons of Owning A Laundromat New Investors Need to Know.Key Statistics Laundromat Investors Should Know.Maintenance Tips for Commercial Laundry Equipment.How Technology Keeps Laundromat Customers Loyal.
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