No Business Like The Laundromat Business
Every investment has its advantages and disadvantages depending on your own personal business goals. The laundromat business is no different. But with a unique combination of stability, flexibility and profitability, laundromat investments are in a class all by themselves.
NEARLY 94.5% SUCCESS RATE (10) 10. Speed Queen laundromat success rate is the number of NOT charged off loans per laundry divided by total numbers of loans originated from January 2001 through June 2013, based on experience of Speed Queen Financial Services.
Improve your chances for success compared to alternative investments through Speed Queen® Financial Services.
35% Average ROI (20) 20. Wallace, B. (2014, December 9). Getting Into the Laundry Business [Webinar]. Retrieved October 6, 2015, from http://www.coinlaundry.org/HigherLogic/System/DownloadDocumentFile.ashx?DocumentFileKey=f0c0f96e-bac9-4baa-b0ed-5e3f40c01e69
Laundromat businesses located within the U.S. average between 20-35% 11. How to Start a Coin-Operated Laundry. (2008, January 31). Entrereneur.com. Retrieved June 18, 2013, from http://goo.gl/HFe4Z9 Return on Investment.
Because clean clothes are a necessity, laundromat success is not tied to fluctuations in the economy.
ADAPTABLE TO YOUR LIFESTYLE
The flexibility enjoyed by laundromat investors allows them to customize their business around their personal lives. One third of current laundromat investors consider their store a part-time job.
Customers pay up front, eliminating costs and time associated with tedious accounting responsibilities.
New, innovative equipment allows owners to maximize profitability and flexibility.
LOW LABOR COSTS
Your customers are the labor and your machines do the work, so you won’t need to hire a large staff, meaning more money for you. In fact, 70% of laundromat investors have 0-2 employees 7. Coin Laundry Industry Survey. (2003-2012). Coin Laundry Association. http://goo.gl/vB90dB .
You can claim equipment depreciation as a loss on your annual taxes, creating additional opportunities to retain revenue.
STABLE CUSTOMER BASE
90% of laundromat patrons become repeat customers.