The current trend in Laundromat Franchising business is to expand via franchising. Owning a franchise has some remarkable advantages to the business owner; with a franchise, there is already an established business process in place to follow.
There are some real tangible benefits to buying a laundromat franchise as opposed to creating a brand new laundromat or buying an old laundromat business.
Why Buying a Laundromat Business Through Franchising?
First, what is franchising? Franchising in today’s terms refers to the process of a corporation “leasing” their brand name to a 3rd party.
This third party is usually somewhere else, but can sometimes occupy the same territory as the company behind the brand name.
So why would you buy into a laundromat franchise? Laundromats tend to be extremely profitable small businesses.
They are easy to setup, operate, and maintain, and there is always a large customer base eager to seek out the services of a laundromat. Not only is a laundromat a valuable service, but it fulfills a useful niche inside of a community.
Laundromats cut down on the expenditure of water, space, and electricity. It’s far more efficient (and cheap) to use a laundromat service once a week than to own and operate your own washing machine and dryer. Hence, there is a need in society for a laundromat service.
Buying a laundromat franchise is a good investment because all the ground work is done for you ahead of time. You, as the franchise owner, simply have to “maintain” the laundromat.
The franchise company will essentially take care of all the details that you, as a prospective laundromat buyer, would have to deal with. These details include research into the customer base, analysis of the competition, detailed stats on seasonal revenue expectations, etc. You can save a lot of time (and possible failure) buy buying a laundromat franchise.
Laundromat franchising is becoming the most popular way to own coin operated laundry businesses. Research has shown that the return on investment (ROI) of a laundromat business often sits at about 30%. However, depending on location and customer base, laundromat business can still fail.
Buying a laundromat franchise gives an extra boost of security because the company offering the laundromat franchises has experience and research regarding the best places and methods of establishing a new laundromat service.