There are many benefits in owning a coin operated laundry business. However, as with all businesses, this has its up and downsides. That said, you need to assess your personal and professional goals against the different advantages and disadvantages of this particular business model.
To help you decide, here are 4 Benefits of Coin Operated Laundry.
- Steady Source Of Income
Laundry, though tedious, is one of life’s great necessities. Now that most people are accustomed to renting their living spaces, there is a burgeoning demand for on-site laundromats and laundry services.
A coin laundry appeals to students, renters, and people living in small spaces. Moreover, homeowners also resort to Laundromat services for handling large items such as comforters, car seat covers, or even formal suits and long gowns. If you do your service well, these people can become your patrons and regular customers.
It helps, though, to be in the right area, preferably one with a lot of residents and restaurants around.
- High Return on Investment (ROI)
As mentioned above, laundry is a basic need for every household. Regardless of your level of income, you need to do your laundry. As such, demand for this service will not go away anytime soon.
Provided you are using high-quality coin operated washers, while performing the necessary maintenance checks and paying attention to your customer service, you can almost expect to see a high return on your investment.
- Minimal Labor Costs And All-Cash Transactions
Because your customers will be operating the machines on their own, there are almost no labor or training costs involved in running this type of business (aside from your cashiers and security, of course). The business practically runs itself. You can have zero to two employees and still run a successful coin laundry. Talk about passive income!
In addition, your customers will be paying cash upfront, which means no deliverables (and less hassle). You’ll have full control over your money, which eliminates and costs and needs for accounting and inventory.
Looking to run a coin laundry? Start with the right machines. Continental Girbau offers a wide variety of high-quality coin operated washers and dryers. They offer innovative laundry equipment run by the latest systems and backed by industry-leading warranties. What is more, these machines are made to be energy efficient and environmentally friendly.
- Adaptive To Your Lifestyle
Want more flexible work hours? You can run a full-capacity coin laundry service while spending less than 40 hours at work. The workload is so light that you can opt to maintain your current job while still enjoying the benefits of running your own business.
What is more, it doesn’t take much additional work to scale to multiple branches. There are really so many ways to go about this.
Like any other businesses, you need to have a realistic assessment of your goals and resources before you decide to jump into any business. If you see that this business fits your goals, you should be up for the positives and negatives that come with it.