Why Investing in Laundromats Is Your Best Option
When it comes to investing your money, there are numerous options available. Choosing the right one can be difficult, and a little bit nerve wrecking. If you're looking for a solid investment option, it's no surprise that laundromats top the list. But what makes the laundry industry a better use of your money than other investments, like franchises, the stock market, or another small business operation? Let’s take a look.
No slow season
Clean clothes are a necessity year-round. While similar industries, like car washes, may see down time during colder months or fluctuate during bad weather, laundromats never really have an off-season that owners have to prepare and budget for.
Profits don't fluctuate with the economy or trends
The fact that clean clothes are a constant need also means that your business is more stable long term. Unlike restaurants, convenience stories, and the stock market, rises and falls in the economy or the latest trends don't have much of an impact on your bottom line.
You don't need many employees
Hiring and retaining employees is no easy task. There's paperwork, scheduling, training, and all sorts of requirements that come with it. Not to mention paying them. According to Speed Queen, about 70% of laundromats only have two or fewer employees, meaning less hiring and management hassle, and more money for investors.
Laundromats are very hands off for owners in comparison to many other businesses, meaning you have the flexibility to set your own hours, adjust prices, and make your business everything you dreamed it to be. On the flip side, the majority of business decisions for franchises are made at the corporate level. While you may be getting a recognizable name, you often have little control over how you want your business to run.
Exciting new technology
Technology has had a huge impact on the laundry industry, leading to increased energy-efficiency, new business opportunities, and overall increased customer satisfaction. That technological trend will likely continue as innovative commercial laundry manufacturers develop new and exciting products. Unlike other businesses that seemed to have plateaued or lack innovation, there's never been a more exciting time to join the laundry industry. Don't believe us? Check out how Speed Queen Quantum Controls are changing the laundry game.
With many investments, you're on your own once you invest your money. That can be incredibly stressful and challenging, especially for new investors and business owners. That's why laundromats are so great! By partnering with a laundry equipment distributor, like Martin-Ray Laundry Systems, you'll receive ongoing business support, design help, equipment maintenance, financing options and more!
High success rate
Bottom line: The laundromat business sees nearly a 95% success rate, according to Speed Queen. You can't argue with success like that!
We know opening a coin laundry is a big decision, and not one to be taken lightly. We get that you want to make the best possible investment decision for you and your family. We're here to help! You can learn more about investing in a laundry business by contacting one of our experts!