Opening your own laundromat can seem like a daunting task, but it doesn’t have to be.
Take a look at some of the reasons why investing in a laundromat might be the best decision for you and your family.
· Great ROI. Laundromats in the U.S. see an average cash-on-cash ROI of 20-30%, which is much greater than most alternative industries. Additionally, once you factor in the lower labor and inventory costs, you then understand that owning a laundromat results in all the benefits of a profitable investment but without the risks.
· Recession/Pandemic resistance. We’ve all suffered during the Covid-19 pandemic. However, investing in a laundromat might make the next economic recession or pandemic less stressful financially. The reason for this is that people will always need clean clothes and will continue to use laundromats even during economic lows and health crises. Yes, laundromat owners have to make adjustments but not to the same extent as other industries, such as the hospitality, tourism, or real estate industries.
· Inventory. Unlike a grocery store or restaurant, laundromats have very little physical inventory. Depending on the layout of your store, you might need extra space for vending supplies such as soda, snacks, and soaps/detergent. However, the aforementioned inventory does not take up a large amount of room or require constant restocking. This results in lesser investments—both financial and time.
· No franchise fees. When you build a laundromat with Automated, you won’t have to pay franchise fees. This means that whatever money you have allocated to your laundry project will go directly into construction and equipment costs, giving you more bang for your buck. Additionally, you do not need to adhere to any rules set forth by us. You are the boss of your laundromat, and it will run in the manner that you want it to run.
· Flexibility. Probably the biggest perk of the industry. Because laundromats require minimal upkeep and management besides cleaning and general maintenance, you, as the owner, can set your own hours, which will be far fewer than those required by other industries. Many laundromat owners have other part-time or full-time jobs and only come into the store occasionally to ensure it is running as it should be. Now, this might require the hiring of a store manager, but, again, the choice is ultimately up to you.
· Simplicity. In a typical laundromat, the customers do the majority of the work washing and drying their clothes. That means training, on-boarding, and labor is relatively minimal for yourself and employees, at least in comparison to many businesses. Plus, customers pay upfront, which makes accounting and tracking easier.
· Potential for multiple locations and expansion. Due to the versatility and necessity of the laundry industry, you will find yourself presented with many possibilities for expansion. While these possibilities may seem daunting at first, they are all relatively simple. Whether it’s building another location, expanding your original store, or offering other services such as pick-up, drop-off, or dry-cleaning, Automated will ensure that you are given the resources to not only succeed in your current venture but in all future laundry-related projects.
· A great community. Last but not least, there is the greater laundry community. Because owning a laundromat doesn’t differ much from town-to-town or even state-to-state, you’ll find a wide variety of informative resources, both online and in-person. If research isn’t your strong suit, then Automated will always be there for you to provide you with all the statistics, rules, and general information that you’ll require.
So, there you have it—just a few of the many reasons why you should consider investing in the laundry industry. If you have any more questions or concerns, please reach out to our dedicated office staff at (818) 846-7242 or email us at [email protected].