Opening a Laundromat – Investing in the Coin Laundry Industry
The nation's 50,000 laundromats have passed the $5 billion sales mark. For a small business founded on nickels, dimes and quarters, this is impressive performance. Are you interested in opening a laundromat? Invest wisely with Coin-O-Matic in Alsip, IL at your side.
We work with business owners in and around these service areas:
- Chicago, Aurora, Rockford, and Joliet in Illinois
- Indianapolis, Fort Wayne, Gary, and South Bend in Indiana
- Detroit, Lansing, Grand Rapids, and Ann Arbor in Michigan
- Milwaukee, Madison, Kenosha, and Racine in Wisconsin
Coin laundry currently serves over 40 million residences, and appeals particularly to the vast majority of middle and low income households whose on-premises laundry facilities may be limited. Laundromats have also followed Americans into the suburbs to offer more and larger washing machines and tumble dryers that are in direct competition with the single home washer and dryer. It is a cash business with no accounts receivable and very few accounts payable. Thanks to its self-service business structure, coin laundries are often minimally labor intense.
In recent years, many savvy individuals with capital to invest have turned to laundromat ownership as a sound business decision. At Coin-O-Matic, we have worked with engineers, accountants, pilots and many others to help them open laundromats in and around Chicago, and throughout northern Illinois and northwest Indiana. Coin laundry investors look forward to the challenge of operating a small business without tying themselves to it eight hours a day or forsaking their career occupation. However, in the process of opening more laundry locations, some owners decide to abandon their original line of work altogether to manage their laundromats as a full time business venture in its own right.
The successful future of the independent coin laundry will depend on its owner's willingness and ability to develop good management and marketing practices, adjust to changing economic and environmental conditions and invest back in their business. Energy-efficient commercial washer and dryer solutions are the key tool in effective store management overall.
Need additional information about Laundromats? Contact Coin-O-Matic's Laundromat Investment Specialists, today!