On the other end of the spectrum, running a fully-staffed store requires more of your time.
More Time And Employees: Own An Attended, Full-Service Laundromat
You can use software like LaundryPulse - a digital laundromat management tool from Laundrylux - that allows you to run your store (or multiple stores) remotely from your laptop.
If you plan to run your laundromat as a side business, or you plan to open multiple stores, there are ways to minimize your time and staff requirements. You will still need to manage the business, collect revenue (choose electronic payments to avoid this task), clean the store, keep the environment safe and monitored, maintain the machines, and of course open and close daily. The unstaffed store, as the name suggests, requires fewer on-site hours. Less Time On-Site: Own An Unattended Laundromat The weekly hours you dedicate to running your coin laundry business will depend on the type of store you plan to open and the number of staff you plan to hire. Time Dedicated To Your Coin Laundry Business The number of hours, types of skills, and level of investment required to open and operate a fully-staffed versus a self-service coin laundry business may be very different, and it will be useful to think about the hours, skills, and investment needed for your preferred type of store. This type of store is popular in high-density areas like city centers and university campuses. If you want a simple, hassle-free business that only offers one type of laundry service, owning an unattended, self-serve coin laundry business could be right for you.
Unattended, Self-Service Coin Laundry Business This type of store typically provides different sizes of coin-operated washer and dryers and a range of specialty services like wash & fold, dry cleaning, and delivery services that support the laundry needs of their customers. If you like the idea of employing staff and providing a range of laundry services, a staffed laundromat may be right for you. Fully-staffed, Full-service Coin Laundry Business But in general, laundromats will fall into two broad categories: the fully-staffed/full-service store and the unattended/self-service store. In particular, we will explore the growing trend of hybrid laundry cafes and laundry-bars. Learn more: Financing Your Laundromat BusinessĬoin laundry businesses come in many shapes and sizes, and in future blog posts, we will look at the benefits of the different types of stores. The amount and ratio of these elements (time, skill, investment) will depend on the type and number of stores you plan to open. Owning a coin laundry business certainly has many benefits, but, like any business, building and running a successful laundromat will require time, skill, and monetary investment. The Different Types of Coin Laundry Businesses Key Factors For Owning A Coin Laundry Business 1. Investment Required to Start Your Business.And, with successful laundromat businesses achieving an ROI of 20 – 35%, owners can expect to earn a healthy profit from their endeavors. Once a laundromat owner has had success with one store, they can easily reproduce their coin laundry business in a second location, and may eventually own and run a number of thriving laundromat stores. The longevity of laundromat investments and high survival rate - 95% of stores are still open after five years - may be explained by the recession-proof nature of the business after all, whether an economy is booming or not, people will always need clean clothes. Starting a coin laundry business is a great option for anyone looking to build a steady, profitable business that can be run for many years and even passed onto future generations.
How to Start a Laundromat Business: Part 1