The laundromat industry offers numerous opportunities for entrepreneurs wanting to enter a stable, potentially lucrative business with low risk.
There are many ways to enter the coin-operated laundry business and there are many ways to grow your business once you have started. Here are some of the top coin laundry business opportunities.
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Buy a Coin Laundry or Start Your Own?
Most entrepreneurs enter the Laundromat game by buying an existing business. If you do your due diligence and find a laundromat that is performing well then this is a great way to get started with a business that is already profitable. You can guarantee yourself a good return on your investment if you know how to value a laundromat and negotiate the right price.
Starting your own coin laundry can be a much more risky endeavor with the startup costs and considerations that are involved. It is hard to know if a location will be profitable if you have no sales records to prove it. However, if you start your own laundromat from scratch and know what you are doing then the potential for high profits is far greater.
A Coin Laundry Chain
Many selves serve laundry business owners only have one or two laundromats. However, there are excellent opportunities for savvy entrepreneurs to scale up to much larger operations that involve multiple locations.
The great thing about laundromats is that they can be left unattended for large parts of the day. One owner-operator can easily drive around and service a number of locations. A more likely scenario though is that after your first one of two coin laundries is open you would hire attendants or janitorial staff. You could then focus on growing your business even more.