4 Things You Should Know About Starting a Coin Laundry Business

Have you ever thought about running a coin laundry business? Are you wondering, “is a coin laundry business profitable?” There are over 29,000 coin laundry businesses in the U.S. with gross revenue of almost $5 billion dollars!

As with any business, there are some pros and cons when it comes to buying a coin-operated laundry business. Here’s what to expect and a few things you should know about if you want to own a laundromat.

1. Laundry Is Recession-Resistant

When it comes to coin laundry business pros and cons, this is definitely a pro! Everyone has dirty clothes and they always need a place to wash them. That makes a coin laundry business recession-resistant.

Unlike buying a house or going out to eat, people don’t stop doing laundry in tough economic times. Your bottom line stays much the same regardless of what’s happening in the wider economy.

2. Scalability

Once you understand the business and have a solid coin laundry business plan, it’s easy to scale the business. That’s a big pro.

Scaling doesn’t mean you have to open new locations if you don’t want to. You can scale your current business by adding more services.

You can expand your existing facility, add wash-dry-and-fold services, or even dry cleaning services. Expanding by offering new locations is always an option when you’re ready.

One of the cons to expanding is the cost. You’ll need serious investment money to start or expand a coin laundry business.

3. Easy to Run

Compared to other businesses, such as a restaurant, a commercial laundry business is easy to run. You don’t need a lot of employees and, unless you add a lot of additional services, the customers do most of the work.

You don’t spend a lot of time training, onboarding, and dealing with employee problems. It’s not unusual for an investor to run a coin-operated laundry business while doing something else part- or even full-time.

4. Not a Seasonal Business

Many businesses make all their money during a specific season of the year – like Christmas. With a coin-operated laundry business, you’ll have business all year-round.

A laundry business isn’t weather-dependent either. Severe weather may mean fewer customers but even if you live in areas with harsh weather conditions, there aren’t many days when you can’t open your business.

5. Return on Investment Is Good

The biggest reason for owning your own business is to make a good profit. Buying a coin-operated laundry business makes good business sense because you’ll get a good return on your investment. There is a substantial investment up-front for the washing machines, dryers, and set-up costs, though.

Most coin laundry businesses are not franchises. You’ll make your own rules and you won’t pay any franchise fees.

Owning Your Own Coin Laundry Business

Ready to own your own coin laundry business? Now you know some of the pros and cons and why a laundry business might be a great business for you.

Looking for more articles like this? Check out the Business section of our blog!