When looking into business investment opportunities, it can be a bit of an overwhelming experience. Of course, there are pros and cons to every investment opportunity, but which one is really the right choice for you? Here at Coin-O-Matic, we’ve been in the laundry industry for 100 years. We don’t own or operate any laundromats ourselves, that’s our customers’ business, we’re not here to compete. We do understand what it takes to be a successful laundromat owner and entrepreneur though. We’re here to help you decide whether or not a laundromat is the right investment choice for you!
To start off, laundromats have an excellent return on investments. They average between 20% to 35%, making it a very efficient investment! Laundromats have much higher ROI’s compared to alternative industries, which may make it the perfect choice for you.
Minimal Employee Management
An advantage that laundromats have over other businesses is that they require minimal employee management. With only having to hire a few employees, you save on both labor costs and management problems. Some business owners struggle when they are in charge of too many employees, but as a laundromat owner, you won't have to worry about that! Hire a couple of employees, maybe even some family members (Coin-O-Matic is a third-generation family-owned business!), and enjoy the smooth management of only a few employees!
Multiple Streams of Income
Laundromats are more than just a self-serve stop for customers to wash and dry their clothes, you can also offer services, product sales, and more! If you set up your laundromat right, you’ll have multiple streams of income going into your bank account! Besides the income coming from your washing and drying machines, you can have other sources coming from wash-fold services, vending machines, advertising spaces, even spaces like a small coffee shop. The options are endless, so put your imagination to the test and see what other ways you can come up with for other sources of income!
Not Seasonal Or Weather Dependent
Another great reason why a laundromat is the right investment for you is that this industry is not seasonal or weather-dependent. Your laundromat business can run seven days a week throughout the entire year, without relying on good weather for business. Everyone has the necessity of cleaning their clothes and that’s not going away any time soon, so your laundromat business should always stay busy!
Owning a recession-resistant business becomes very beneficial to you as an owner when the economy begins to decline; hence the reason why people invest in laundromats. You’ll be at ease no matter where the economy lies and many business owners will not be able to say the same. Just like the season or weather, people will still need to wash their clothes if the economy goes into a recession. You may see your business slow down a little bit, but overall, there would be no dramatic decline in your income.
No Franchise Fees/Rules
Because your laundromat won’t be a chain business like others, you would not have to worry about any franchise fees or rules. You’ll be able to run your business just how you want it and pursue your dream of owning your own business. With no franchise fees, you can put your money to good use towards upgrading your equipment and creating an enjoyable environment for your customers. If they know that you have high-quality machines with good snacks and excellent entertainment, they will be sure to come back!
The simplicity of owning a laundromat is very attractive for those looking to invest. Because customers pay upfront for the washing and drying services, you don’t have to worry about constantly running people down for their money. The pay is upfront and simple, just how business owners like it. Laundromats are also simple because customers are the ones doing the work. They load and unload their machines, while you sit back and assist with any questions or problems. If you wanted to, you could step up your game and offer services to customers for employees to do the loading and unloading work. This makes your laundromat business a little more complicated than before, but still manageable with a couple of employees.
By investing in a laundromat, you’re also investing in your future. It’s important to think about your future and your family’s future because once the time comes, you can pass your laundromat business down to a family member. Whether that would be your children, nieces and nephews, or close family friends, you’ll set them and yourself up for financial success. An investment in a laundromat business might not only be right for you, but also for the loved ones around you.
Lastly but maybe most importantly, the laundromat industry is a great community to get involved with. Corporations like Electrolux and Maytag provide high-quality machines for laundromats and receive great reviews. You’ll create many long-lasting relationships within the laundromat community, so start investing now!
Investing in a laundromat is the right choice for you if you’re looking for a simple business that will bring in income for you and your family. At Coin-O-Matic, we provide unparalleled laundromat business support, services, and equipment to take your business to the next level. Give us a call today at (708)-540-2076 or contact us through our website and we’ll get you started with everything you need!