The coin operated laundry business, also known as self-service coin laundry business, or laundromat business or dry cleaners, is a recession resistant business with a very high success rate. Coin-op laundry is an all-cash business, requiring very few or no employees, and best of all very profitable (return on capital of 20% to 50%) for the owner.
Coin Operated Laundry Business Guide offers information and resources for entrepreneurs and investors interested in owning, operating, buying or selling a coin operated laundromat business.
Starting a Coin-Op Laundry Business
The coin laundry business is one of the safest businesses to invest in because owning a laundromat can be a success from the first day when you buy the right store on the right terms.
This is one of the most exciting aspects of the laundromat business because you only purchase a store as a multiple of its PROVEN income. So, when you take over ownership of the laundromat, you’ll at least generate about a 20% return on your money as long as you keep the store open.
Financing a Coin Laundry Business
When you buy a coin laundry business or new equipment for your store, there are usually good financing options.
A laundromat business is one of the easier businesses to get financing for because of the strong historical track record of the laundry industry. Often the seller of a laundromat will even offer financing (i.e. carry back a note) with a small down payment. Otherwise, bank financing is easy to obtain because the laundry business is very stable and the seller can show their track record.
Operating and Managing a Laundromat
Keeping a laundromat open is not that difficult because there’s not that much hard work involved. There are service providers who can do repair and maintenance work on the machines and keep the store clean.
Coin laundry equipment vendors provide you with plenty of help to be successful in this business. The equipment vendors are very invested in your success because they can provide you ongoing service, supplies, and machines.
Best of all, there isn’t any heavy lifting, direct selling, or too many employees to deal with because your customers provide their own labor, pay you with all cash (coins or dollar bills), and already know how to operate a washer and dryer.
If you outsource the maintenance and cleaning, the most work you’ll be doing at your laundromat is collecting and counting your money!
There are many articles here about the coin laundry business, from laundromat business plans to laundry business insurance, and the pros and cons of owning and operating a laundromat. Please contact us to let us know what you think about the information on this site or suggest topics for us to cover.