Making money in today’s economy can be a bit of a challenge for entrepreneurs. Consumers are making tougher decisions about where to spend their money. Things that were once considered necessity are being re-categorized as luxury. Some businesses will not be done away with no matter how great the recession. Coin laundromats are one of those businesses. Long gone are the days of scrubbing clothing on a washboard. Consumers don’t have time or posses the skills to clean clothing in any other way but with machines. A growing number of consumers do not have access to washers or dryers within the home. Even if they have a washer and dryer on their premises, the majority machines are not able to handle the size of large bedspreads. At some point or another, most people have to take a trip to the laundromat, because they are out of town, have an over-sized comforter, or suffer from a broken washer or dryer.
Getting Started:
Begin by visiting a financial lending institute that helps small business owners secure loans. Once the pre-approval process has taken place, you can locate a coin laundromat that is for sale. Try to find one that is what you consider to be, a drivable distance from your home. Purchasing an established business allows you to use your capital to invest in marketing, improvements, and repairs.
If buying a laundromat is not feasible, meet with a company that is professionally tasked to find a suitable location for establishing a new laundromat. Select a licensed commercial contractor with high reputations for good and effective work. Locate a reputable laundromat equipment distributor to purchase quality machines from.
How to be successful:
Laundromats that are open by 7:00am and close no earlier than 10:00pm, are highly effective. Those that use laundry services on a regular basis are in need an establishment that offers a variety of hours. These consumers are working around job situations and family needs. Staying open 24 hours a day offers the greatest benefit to customers, but will require additional safety measures to be put in place.
Hiring on a staff that will take pride in working at the store is not easily accomplished. Offering competitive wages will bring in a higher quality of working class. Having clean facilities, courteous employees, and informed prices will cause your laundromat to stand out.
So, if you are looking for a company that will stay steady with business, coin laundromats are a viable income source. You won’t be left to wonder if your business is going to make it if consumers take another hit to their pockets.
- Joanna P.
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