Coin laundries are an all cash, no inventory business that offer investors many advantages, including high ROI, liquidity, tax benefits, and fast growing equity. Here is some basic information about self-service laundries.
Self Service Laundry Basic Info
- The cost of buying an existing vended-laundry ranges from less than $100,000 to over $1 million, depending on size, age, and net income.
- Laundries typically occupy between 1,500 and 4,000 square feet of retail space, however, some go up to 6,000 square feet. depending on market size, the density of the trade area, and the quality and number of competitors.
- Most laundries occupy retail space that is rented on a long-term lease (10-25 years). Negotiating a satisfactory lease is the single most important part of developing a new laundry, or purchasing an existing one. PWS is an expert in this area and handles lease negotiations for all new stores we develop.
Quick Facts about Laundry Ownership
- Laundries are generally located in areas with lots of renters
- Washers range in size from 12lbs to 125lbs
- A long-term, reasonable lease is extraordinarily important to the success of a Laundromat
- Laundries are typically bought and sold based on a multiple of net income
Business is constantly changing, and the laundry business is no exception. Here are several recent trends:
- New Services
Most laundries were historically unattended. Today they’re offering new services, such as snack bars and bottled water, and employing full-time, on-site personnel.
- Extended Hours
Most laundries are now open from 6:00 AM to 10:00 PM. Some even operate 24-hours a day to meet ever-increasing demand.
- New Payment Methods
The term ‘coin laundry’ has been changed to ‘vended laundry’ because, in addition to coin-vended equipment, machines can now be activated by debit-cards and smart-cards.
What Can You Expect from Your Investment in a Coin Laundry?
Are you finding that the stock market isn't giving you the return you expected? Then, learn what the coin laundry industry has to offer:
- Good Part-Time, or Retirement Business!
You'll receive a steady income!
- Increased Demand
You'll satisfy a basic need in the community.
- Virtually no inventory control shrinkage
No spoilage or theft as well
- High fixed costs combined with low variable costs
This means "the more volume, the more profit".
- Coin laundries can be run successfully
Even on a part-time basis.
- The business lends itself to future expansion
This can lead to multiple store ownership.