The vended/coin-op laundry industry has long been a reliable source of income for many investors and entrepreneurs. Servicing a primary customer base of 104 million people living in rental housing as of the 2014 updated census information, the average coin-op laundromat can generate cash flow between $15,000 and $200,000 per year with a market value between $50,000 and $1 million. Thanks to a steady market that remains productive, or actually improves during recession (due to an increase in the rental market), coin-op laundromats often occupy their retail space on long-term leases of 10-25 years
How to Start in the Coin Laundry Business
The coin laundry business has always attracted aspiring entrepreneurs who not only want to be their own boss and make their own hours, but who also enjoy working with the public and being an active member of the community. According to industry experts, there are some 35,000 coin laundromats in North America, generating over $8 billion in sales, serving around 30 million people. It is said that the coin laundry business is "recession proof" there will always be a need for clean laundry.
However, the business is much more complex than many people realize and not everyone has the temperament and skillset to be a successful entrepreneur. Advances in technology and digital communications, along with an evolving customer base, have changed the face of the industry in recent years, making it much more competitive than in the past.
These days, commercial laundromats must be closely managed to ensure the best possible ROI. 'Clean, bright, and safe' are no longer enough. An optimal location and modern amenities are necessary to attract customers to maximize revenues. State-of-the-art, energy-efficient commercial laundry equipment is key to minimizing utility costs and water usage. Laundry machines should offer the following:
- Coinless payment option
- Programmable time-of-day pricing to meet customer demand
- Remote operation using an internet-networked device from anywhere.
- Customizable customers can choose wash and rinse options
How to Succeed in the Coin Operated Laundry Business
Consult with an experienced, qualified equipment distributor who knows your market, before you get started. Ask for references from other customers.
Western State has been helping vended/coin op customers acquire, develop and operate profitable laundromats since 1974. Our 40+ years of experience in coin operated and commercial/industrial laundry operations has allowed us to develop a level of expertise that is unmatched by others in the industry.
Contact us and we will explain how we can help you with your new coin laundry business or improve the bottom line of your existing store.