Owning a laundromat business can be a low-maintenance operation, especially if your laundromat is a self-serve facility without a staff.
You can either buy an existing coin-op laundry business or start your business from scratch. Purchasing an existing operation can be easier, and start-up costs will vary, depending mainly on your location.
What About Location?
Location is important for a laundromat business. Convenience is a big factor for customers, so you want to be located in high-traffic residential areas and supply ample parking for customers. Close proximity to other services such as restaurants or shopping is can also determine the amount of customers you attract.
Factors to Consider
You can operate a laundromat on a part-time basis, and this line of work offers a very flexible schedule. Many coin-op laundry owners run multiple shop locations, so you may decide to increase the number of facilities you operate as you grow your income.
If you do not have mechanical skills, it may be a good idea to have a handyman or appliance repair person whom you can call when repairs are needed.
Keeping Operating Costs Low and Profits Growing…
Customers generally want to pay the minimum to get their laundry cleaned, and with utility costs continually rising, you may find it challenging to stay competitive. It is worthwhile to look into using energy-efficient equipment and lighting in your facility.
To increase your profits while keeping your business low-maintenance, you can offer additional conveniences to customers like snacks or drinks or other vending machine items. To keep customers returning back, keep your building clean and repair equipment quickly.
LAUNDROMAT QUICK-START GUIDE
Although special education is not required to start a laundromat business, many business owners recommend talking with other coin-op entrepreneurs or getting advice from people experienced in this field before getting started.
Brooke Hodges shows you every aspect of starting and running your own laundromat so you can avoid many of the costly mistakes new coin-op owners make. This is an easy way to minimize your risk and maximize your own success.
- How to choose a profitable location and analyze the laundry competition in your area to know the best way to compete effectively.
- How to put together a marketing plan, an advertising budget and consistently bring in new paying customers.
- Licenses and permits you’ll need, bookkeeping tips.
- Practical, useful layout design tips, information on getting new and used equipment and supplies.
- Coin Laundry Association
This group helps its members connect and network with other laundry business owners. They also provide help to members in reducing business costs and increasing company sales.
Coinwash claims they are the largest online community for laundry professionals. It’s a great place to get and share information about the business. They also have classified ad section where you can get discounted commercial washing machines, dryers and other equipment.