Why New Laundromat Equipment Pays for Itself – Is now a good time to invest in new equipment?
Most laundromat owners don’t consider buying new equipment because it can appear to be a costly investment. However savvy owners will run the numbers and determine if buying (or leasing) new equipment is worth the initial investment.
Here are three reasons why upgrading to new equipment may pay for itself faster than you think.
Lower Water Costs
Water rates have increase considerably in most markets across the country the last 10 years. New equipment can use much less water than older washing machines yet clean clothes at the same or even better rates. One of your biggest expenses will be the water bill and here is one way to lower it.Why New Laundromat Equipment Pays for Itself ? Is this still a question?
Lower Energy Costs
Just as new equipment uses less water, they also use less electricity. This goes for washers and dryers (both gas or electric dryers). In many areas energy costs have rising more than water rates so this might be an even bigger savings.
Who doesn’t want to go to a laundromat that has all new equipment? I would and your customers do too. In larger markets there will likely be a competing laundromat near your customers. They find out quickly which store has the better equipment.
Should you upgrade your equipment? It depends on the return on investment (ROI). As we’ve seen, new equipment can lower costs and increase revenue. In many cases the loan or lease payments on the new equipment might be less than the sum of the cost savings and revenue increases. That makes upgrading very attractive doesn’t it?