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Successful Laundromat Owners Get 8 Key Elements Right

The professionals at Coin-O-Matic have helped hundreds of business owners develop successful laundromat businesses over the years. From construction, to permit submission, to the ribbon cutting, our experienced team of contractors can complete your project on time and on budget, while delivering a product that consistently saves you, the investor, thousands of dollars in operating expenses.

Get these key elements right and be a wealthy laundromat owner

If you’ve been searching for answers to questions like “What makes a great laundromat?” or “How do I make my laundry business successful?” we’re here to help! We have the experience and expertise to help you build a successful laundromat. 

  1. Commitment: As a business owner, your commitment to your laundromat is the number one driver of your success. We've helped countless successful laundromats get up and running, and the very short list that fail is due to the owner isn't as committed as they need to be more so than for any other reason. You have live your new business, and your commitment will pay off!
  2. Location: Choosing the right laundromat location is no easy task. You have to weigh a lot of factors when looking for real estate. We offer Laundromat Location Feasibility Studies to help future business owners find the right property because it’s one of the most important decisions you can make for your business. You need to understand the demographics of the area, as well as who and where your competitors are. Beyond that, you need a solid understanding of the zoning laws and real estate taxes associated with the property as well as any construction projects you’ll be undertaking there. Also, if you work with us on your Laundromat Location Feasibility Study, we’ll credit the full cost of the study towards your commercial laundry equipment purchase!
  3. Brand Vision: What is your vision for your business? What do you want your laundromat to be known for? You need a clear mission statement and goals outlined to help you meet that mission before you ever open your doors. Think about where you're opening your store, and what you want to provide to your customers. Outline that mission in an easy-to-understand, executable way, then live that mission every day! 
  4. Customer Retention: You're probably very excited about opening the doors to your laundromat, but the truth is most of your customers don't enjoy doing laundry in the first place, so it's your job to make the experience at your laundromat as positive as possible.  Invest in laundry equipment that gives the best wash in the least amount of time.  Choose design elements, amenities and employees that support your mission statement and overall goals for your business. Commit to keeping your laundromat clean and tidy to make your customers feel at home in your space. Focus on the details so your customers return again and again.
  5. Financing: Starting a laundromat business requires a large initial investment. It’s important to have a very clear understanding of what the financial commitment will be. At Coin-O-Matic, we help our clients obtain loans and other financing solutions so that there are no surprises when it comes to the costs associated with your real estate, architectural needs, permits, construction, and business licensing, as well as the cost of purchasing commercial coin-operated washers and dryers.
  6. Great Commercial Laundromat Equipment: Your commercial laundry equipment is the backbone of your laundromat. You need to invest in the right mix of equipment for your laundry business. Today’s commercial equipment technology is absolutely incredible, finding the right solutions based on your customers, how often your machines are used, how big the loads need to be, etc. all need to be factored into your equipment purchase decisions. Commercial laundromat equipment from Coin-O-Matic can get people in and out of your laundromat 40% faster than anybody in the marketplace. In short, your customers can wash, dry, and fold in much less than an hour! Talk about convenience! Our equipment is also so fast, that you can service the same amount (or more!) customers in less space because they'll be in and out so quickly. This is an important consideration to have as you're viewing locations and thinking about square footage needs.
  7. Best in Class Accounting: A wise financial expert once said that if you can measure it, you can control it.  Having control or your business is always essential especially in todays dynamic environment. Few things give business owners sleepless nights quite like un-knowns and un pleasant surprises from your business. Coin-O-Matic understands this and has partnered with the industries finest independent software producers that will literally put every aspect of your laundromat business at your fingertips within your smart phone. This real time detail includes income, expenses, human resources, advertising, accounts receivable, accounts payable, security, access to premises, live mapping of your fleet, live video feeds and much more.  100% Control gives your business a clear pathway to success.  
  8. Partnership With a Laundry Equipment Distributor Who Exists to Help You: Your laundry equipment distributor can help you make the most money from your business investment. Coin-O-Matic focuses our business efforts on making our laundromat clients successful rather than developing laundromats for ourselves. By partnering with Coin-O-Matic, YOU will be 100% confident that we will help YOU find the best location, design and build YOU the finest laundromat, help YOU use best practices to market your business over the years and employ the finest repair technicians in the market to keep YOUR laundromat operating at peak efficiency over its lifetime. 

Ready To Take the Next Step?

Opening a laundromat is such an exciting time! The team at Coin-O-Matic is ready and waiting to help you on this journey. From location selection to the ribbon-cutting ceremony at your new store, we’ll be with you every step of the way. Contact our Laundromat Investment Specialists today to get started!