Commercial Laundromat business can be easily launched anywhere, with a minimum investment and maximum return on investments (ROI). Research reveals that Laundromats render an ROI of 20 – 30%.
Laundromats – Weigh Your Options
Different types of Laundromats are available in the market such as coin operated, card operated, automatic or partially automatic. You may determine the best option that suits your business depending on the services you offer such as dry cleaning or ironing.
You can instantly start a Laundromat business by buying a Laundromat for hire or sale, depending on your budget and services offered. Laundromats are essential necessities and your business will be recession-proof as everybody needs to do their laundry. Before starting a Laundromat business, the following factors need to be taken into consideration:
- Location: For a Laundromat business to thrive, it is vital to choose a location that has maximum renters. A place near a college would be ideal, as students are always looking for places to do their laundry. A high profile location on a busy street with good visibility and plenty of parking will guarantee success. If you can add a coffee machine or baked goods to lure in customers, it will prove to be an added advantage.
- Services: Conduct a research on the demands of the market you are catering to. Ensure that you provide all the services that has maximum demand in the locality
- Competition: Learn more about what your competitors are offering. After you determine their offerings, try to provide a competitive price as compared to theirs and add more facilities to overcome competitive challenges. For example, you can offer environment friendly laundry facilities.
- Hygienic Outlet: Ensure that you operate the cleanest Laundromat in town. Clean and hygienic surroundings always attract a large number of customers.
- Good Rapport: Maintain cordial relations and build a good rapport with the locals and establish contracts with the local companies. Over a period of time, you can expand your operations to cater to corporate client’s employees in the city.
Laundromats are easily available for sale or rent and a Laundromat business is a very profitable business that is easy to start, minimum investment and with a constant demand in the market.