Laundromat industry is somewhat unique in that there is no inventory or receivables. They typically operate in retail space on a long-term lease.
They can present an interesting option because the income they provide is fairly stable. Only a few have any employees. Some also are attached to convenience stores and generate extra revenue in that way.
The industry has two different segments: stand-alone locations, and coin-op machines in rental properties. Both perform the best in renter-occupied and densely populated areas.
As populations have shifted to more stable locations, the industry has experienced stable growth. If you are looking for a low-risk way to start your own business, this may be it.
If you are looking for a laundromat business for sale, you are looking at a great investment in most cases.
The industry, however, is changing. What used to be dingy, boring, and irritating locations are now becoming vibrant entertainment centers.
Many offer video games, dry cleaning pick-up and drop off, and snack bars. While scarce, attendants are being added more and more often.
Some are even expanding their services to offer drop-off and pick-up only. The entire rest of the process is taken care of by the company. Many also offer free wireless internet access.
Some areas have competition involving local chains, but most are independently owned. Owners who do everything right ? keep the place clean, perform repairs quickly, and use energy-efficient systems see profit fast.
In fact, profit margins can run near 35%. As clean clothes are a necessity, the cash flow these companies generate is relatively stable. You also won't experience any seasonal highs or lows.
Additionally, no experience is necessary to start. You might want to research your local market first. If you have good business skills, that will help you out the best.
Another great skill to have is the desire to talk to people. If you can engage your employees and customers positively, you'll have a thriving business.
You should also have very flexible times of operation. People like to come in on weekends, evenings, and mornings. Base your hours on the hours of nearby companies, such as gas stations.
If you are looking at buying a laundromat business, you should feel confident you will have a stable income. If you are looking at selling a laundromat business, keep in mind you should have many interested buyers.
About the Author
This Wiki was written by Andy White, CEO of Biz Trader .