4 Things to Know Entering the Laundromat Business
Entering the laundromat business is a great investment with minimal operating costs in a recession proof industry providing consistent cash flow. Whether this is your fist business venture or you’re looking to diversify your portfolio, understanding some of the important factors of owning a vended laundry is essential to maintaining longstanding and profitable business.
Location, Location, Location
The location of your vended laundry is imperative to its success. An ideal store is located in a high traffic area and has prominent signage that potential customers can see from the road. It’s important to find an open space to avoid added expenses from knocking down walls and a space with enough power to run numerous washers and dryers without tripping the breaker. If the property was not previously a vended laundry you’ll have to look into installing new water pipes, electrical outlets and sewer access.
Above all else you want to make sure your vended laundry is located in a high traffic area in a neighborhood with a lot of other retail.
Material and Personnel Costs
Whether you decide to purchase or lease equipment to outfit your new space it can cost between $150,000 to $450,000+ for the latest commercial washers and dryers. You’ll also need to be in compliance with city and state licenses and fees like a sign permit amongst others depending on your city.
One of the best things about owning a vended laundry is the machines do the work and hiring an attendant is only necessary if you plan on offering additional services or 24-hour availability.
Creating the Optimal Layout
Every store layout is different and important to its success. There are a very specific reasons why a successful laundromat is laid out the way it is including workflow, creating space for additional revenue spaces and marketing. BDS vended laundry experts can help with the ergonomics and design of your laundromat.
Consider Additional Services
Another way to add additional revenue streams are offering extra services to customers. Depending on the demographics of your area you may find a demand for a full wash, dry and fold service and some vended laundries are even offering delivery services to customers’ homes. Another idea many vended laundries offer is laundry detergent and fabric softener dispensers if customers forget to bring their own. Check a nearby vended laundry to see what kind of services they provide customers to either match or top their additional services.
BDS Laundry Systems has a vended laundry team dedicated to helping you find the perfect space, connect you with the best contractors to complete any renovations and equip the space with the latest washers and dryers for premium performance and efficiency. We also offer flexible financing services for new investors, learn more by calling us at 1-800-688-0020 or contact us online to start a conversation today.