According to the Coin Laundry Association, coin-operated laundry centers and laundromats have an average return on investment of 20-30%. A Successful Laundromat Owner offers 6 powerful insights on why you, too, can and should achieve great financial rewards with a part-time effort. Are you ready to join the ranks of many successful entrepreneurs like Dan King who are “cleaning up” today’s commercial laundry industry?

With stock market fluctuations and an uncertain economy, many Americans struggle to find investments that can survive recessions and economic downturns. However, the commercial laundry business with its 20-30% ROI is almost recession-proof. In fact, both Dun and Bradstreet and the SBA have cited it as one of the 10 safest business investments one can make. Believe it or not, that’s just one of the many powerful reasons many retirees are looking to invest in their own laundromats. The fact is that self-service laundromats and laundromats are one of the most advantageous part-time and retired businesses out there.

AN OWNER LISTS THE BENEFITS

According to Dan King, owner of several coin-operated laundromats in Southern California, “I highly recommend investing in this industry – it has worked wonderfully for me and it can do it for you. Before investing, I considered 6 top benefits of ownership of a laundry center and that no other investment provided.

1. First, I didn’t have to quit my regular job. I found that Coin Laundries basically works on its own, which was great for me because I was looking for an absentee manager situation. Fact is, they only take a couple of hours a week and are so easy to operate that basically anyone, anywhere can own one or more.

2. I also liked the fact that this is a turnkey business, where you don’t need on-site staff. You can set your laundromat to stay open 24 hours a day, or you can have an automatic door locking system with a timer set to open and close whenever you want. I personally keep my laundry shops open full time and that works out well for me and my customers.

3. Another benefit is that you can have a laundromat close to home or further away. They thrive in every state in the union. Coin-operated laundromats can be placed in virtually every neighborhood shopping center and work exceptionally well in low-income, densely populated, and tenant-occupied areas. Your average customer will be the estimated 89 million people who live in rental housing, which is the fastest growing housing segment in the nation.

4. Even better, this is an “All Cash” business with no inventory or accounts receivable. You can expect a high return on investment, liquidity, tax benefits, and fast-growing capital. Whatever your initial cash payment is at the time of purchase, you can typically expect to pay it back within seven years or sooner. Just like buying a home, you build up equity, and ultimately you can expect a substantial profit.

5. Once installed, I discovered that self-service laundromats paid like an “ATM” week after week. Let’s face it: people will always need to wash their clothes, which is why laundry centers thrive in both growth and recession periods. In fact, when times are slow and home ownership declines, the laundromat market thrives as more people can’t afford to repair, replace, or buy new washers and dryers, or move into apartments. with poor or nonexistent laundry facilities.

6. Finally, I loved the fact that I could purchase an existing laundromat that fit my budget, available investment dollars, and personal requirements. Coin-operated laundromats typically require between 1,500 and 5,000 square feet of retail space, depending on the size of the market. Most laundromats occupy commercial space that is rented on a long-term lease of 10 to 25 years, including option periods. The cost of purchasing a laundromat can range from less than $50,000 to more than a million dollars, depending on size, age, and net income.

Simply put, Dan King is one of many successful entrepreneurs in our dynamic industry. In fact, there are more than 35,000 coin- and card-operated laundromats in the United States, generating more than $3.5 billion in annual revenue, and the numbers are growing! Millions of families use laundromats every day. But most people don’t realize that those same laundromats offer better ways to “clean” than soap, water, and bleach. With the core customer representing the fastest growing segment in the nation, the laundry business is incredibly stable and reliably profitable. After all, families need clean sheets and towels whether the stock market is going up or down. They need clean clothes in summer and winter, on vacation or at work, whether they are newborns, teenagers or retirees.