People nowadays are becoming more and more geared toward self-improvement. Millennials and young professionals are focused on their careers, leaving almost no time for traditional chores like cooking and laundry. More people eat out and have their clothes washed elsewhere.
Everything is either done by machines or by other people. Either way, it has been a win-win since everyone benefits.
In recent years, we’ve seen a resurgence of laundromats that feature old technologies like coin-operated washers and some newer ones like card-operated machines.
In 2016, the revenue of U.S. laundromat industry was a whooping $4.04 billion, according to Statista. If that isn’t good business, what else is?
On top of that machines are now more durable, less expensive, and so much more efficient. Dealers like Continental Girbau can provide exactly what you need from continuous batch washing systems, tunnel washers, washer-extractors, drying tumblers, finishing systems, and many others.
Need more convincing? Here are four compelling reasons to start a laundromat.
It’s A Good Startup Venture
You only need a good location and a couple of commercial washers to start. Once you’ve got the location covered, you’ll want trustworthy, innovative, and efficient commercial washers, dryers, and other equipment–for that you can check out http://cgilaundry.com/.
What are great locations? An eye test will tell you that the easiest spots to earn from are places near universities, dormitories, or even condominiums.
With only these two factors to keep in mind, there’s really so little that can go wrong. Plus, it’s neither capital intensive nor complicated.
There’s very little to lose, frankly.
Timeless
Who doesn’t wash their clothes?
People will always need to wash their clothes, unless, that is, we develop Star Wars levels of self-cleaning technology. Since fully automated laundry is still a figment of science fiction, don’t expect neighborhood laundromats to go out of style anytime soon.
Quick return of investment
If a business isn’t profitable, why bother? Unless of course you’re a billionaire philanthropist looking to give back.
Unlike businesses like gift shops or pastries, laundromats are not seasonal, which means you’ll be reaping profit the whole year round. More or less, income will be steady and predictable.
According to Citylab, demand for laundry is steady every month. That way, you’ll be able to plan ahead water, electricity, maintenance, advertising, among others. Not only that, taxes and accounting will be so much easier.
Besides, operating expenses aren’t even that big. Once you’ve purchased your machines, there’s no need to deal with inventory and labor. Talk about stress free!
Convenient
Did we mention that you only need one employee–two at most? No need for cashiers, store clerks, and other employees.
Since most laundry today is automated, all your customers need to do is swipe a card or insert a coin and just grab a book while the magic happens.
Aside from being extremely convenient, laundromats very easily build loyalty. Yes, there are horror stories of immaculate white polos turning blue or beautiful dresses getting completely destroyed. But with today’s shops, all the liability is transferred to the customer, making it so much easier on business owners.
Conclusion
Profitable businesses are usually the ones with that not only earn money but also supply a need. A laundromat easily ticks off both boxes.
Rather than invest in some complicated unproven venture, start simple with a laundromat. It isn’t the most glamorous business but it sure is underrated.