Clean clothing is one of life’s basic necessities.Combine that with the need for linens, towels and other personal items, and this is a daily workload requiring people, time, utilities and money to accomplish. Either by personally owned laundry equipment or through the use of vended machines, this work has to be done. Investors who are interested in owning their own self-service laundry can find that this industry is a rewarding, worthwhile investment opportunity.
A proven and robust business
NEW TECHNOLOGY AND IDEAS ARE RESHAPING THIS MARKETPLACE
The Coin Laundry Association (CLA) estimates that there are some 35,000 self-service laundries in North America, generating approximately $5 billion in annual revenue.Traditionally a cash-based business, many new investors are bringing retail management ideas and current technology to update and upgrade the business model.For instance, a greater emphasis is being placed upon lighting, interior design, customer amenities and store layout. Self-service laundries are retail environments. Like any other business, they rely upon positive retail experiences and the return of repeat customers for maximum profitability. Although they are basic and simple businesses,self-service laundries are also being changed by new and emerging technology. Washers and dryers are becoming more efficient for greater utilities savings. These savings go straight to the laundry owner’s bottom line. Some owners are moving away from cash-based payment systems and toward card-operated stores. These systems reduce the amount of time spent handling coins and they also have a variety of built-in marketing features — such as time-of-day pricing specials and customer data reports — allowing owners to closely examine and refine store operations. This traditional industry is seeing lots of new ideas. Both customers and owners of self-service laundries are benefiting from changes that are making the laundry process fast and simple.
A coin-operated laundry is part of a broad-based, recession-proof, mature and yet still growing industry. It is a weekly repetitive and all cash business, which requires no inventory, offers terrific tax advantages and is absentee owner suited, too. We assist owners to sell their businesses and help entrepreneurs buy an existing coin laundry or build a new coin laundry.
