Is a Laundromat a Good Business?
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I’m frequently asked why a laundromat is a good business. Well, in one of my other articles, I cover the advantages of a coin laundromat business over other traditional businesses. If you have not read this article, it covers the key advantages of owning this type of business.
In this article, I’d like to expand on why a coin laundromat is a stable, profitable business. Below are several additional points to consider.
Fact #1: This industry is stable.
The coin laundromat business is a $5 billion a year industry in the United States. Most people would not know this though. Instead, the popular misperception of laundromats is that they are poorly run and do not provide an attractive return for potential investors. If you were going to start a business, would you invest in a brand new market that is not proven or a mature industry with a solid track record?
Fact #2: Customers will always need a laundromat.
The reason why coin laundromats thrive is because customers will always need the service. The commercial washers and dryers allow customers to clean more clothes in less time. Some laundromats also provide a fluff and fold service which provides added convenience.
Fact #3: Buying an existing Laundromat makes sense.
If you purchase a laundromat for sale and perform the proper due diligence, you are buying an existing business that will make you money on the very first day you take over the business. In addition, you don’t have to deal with franchise fees, lots of employees, and other headaches typically associated with other businesses.
Fact #4: Favorable trends make this a great business.
The renter population in the United States is expected to grow by 2015. This is a good thing because the typical customers of a laundromat business are renters. This trend is a Laundromat business owner’s friend!
These are just a few reasons why a coin laundromat is a good business. This is not just my opinion either. Check the facts for yourself and you’ll see why I chose to become a laundromat business owner myself.
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About Brian Brunckhorst
Brian Brunckhorst is one of the top experts on laundromats. He is dedicated to teaching entrepreneurs how to find, evaluate, analyze, and buy a coin laundromat. Brian is also the author of the best-selling eBook, “Secrets of Buying and Owning Laundromats”, and the Laundromat Teleseminar System.
