You think that the coin laundry business is right for you?You can make easy money by collecting coins once per week. The place runsitself? These are the factors to consider when you look at the coin laundry industry HotelLaundry Equipment.
Coin laundries that are reliable and efficient use changemachines. Customers who cannot change their money are advised to move on. Whatnumber of change machines does the shop have? A standard brand change machine can hold approximately $3000. The specifications can be viewed on the website. A change machine is a sign that the owner is in control of his business. Two change machines mean the place is busy. If there is no change machine, peoplewill have to ask the gruff guy behind the counter if the laundromat is actually a laundry facility.
Take a look at the store sign. Is it lit? Is it half empty?Is it clear that it is a coin laundry? Or does it simply say "Bob"?You can find everything about the store's management by looking at its store sign. A great store will have a great sign.
3. Top Load Machines
It is difficult to make money using Top loaders with today'shigh utility costs. If you see them in a store, and they are busy, you shouldbuy them cheaply and replace top loaders with front loads of 3x-5x. Although you'll need to spend money on new machines, you'll be able to increase your profits and prices. If you see top loaders in the store but they are empty, it is worth driving around to find a competitor that has new front loaders. Avoid this store
4. Brand of Equipment
You should visit Maytag-equipped coin laundries to avoid theMaytag man falling asleep on TV. Although Maytag is a household name, theydon’t manufacture all their commercial laundry equipment. Quality has also suffered. Wascomat is the top brad in this industry. Wascomat: Who are you? Have you heard of Electrolux before? A Wascomat-only store is a good sign. Look at any Wascomat alongside any other brand, and you'll likely want to use it. It's worth it!
5. Utility bills
It is common to understand that utility bills represent 14%of your sales. This is a dangerous assumption as older equipment could accountfor 20% of your sales. If you are not calculating consumption, I do not recommend that you look at utility bills. To calculate wash revenue, you will need to divide the laundry load by the water used. This calculation is possible if you are able to do it.
It is possible to have a very different approach to runninga store than the owner. Are you approachable and friendly? Are you kind andcaring about your customers? Are you going to fix the shop sign? Will you make sure that you have washers and change available at all times? Conversion is influenced more by the owner of the store than any other factor, but it's not te only factor. Although newer equipment is a plus, your personality will be the driving force behind the business. You should be consistent in your personality. If you lose interest in the business, you should sell it before it is too late.
7. Neighborhood
Find out the population demographics for your city. A goodmix of ethnicities is important. The more children (the more dirty laundry),the better. Retired people are bad news for a neighborhood. A neighborhood with a high household income is not good. Because they have less laundry facilities, low rise 8-plex and 24-plex buildings are better than giant high rises. Rentable properties in the area are better than condos when it comes to coin laundries.
You should ensure that there is ample parking and plenty ofpeople within walking distance. Think about how far you'd have to carry yourlaundry to get to the laundromat. If you can, make sure there is plenty of parking. Parking in front of the store is a must. You won't likely have a drop-off laundry service if you don't.
Side note: If the island directly in front the store istraffic-separated, you'll need to watch the traffic flow into the store fromoutside. Traffic islands can be a killer for small businesses.
9. Wash and fold
Anyone looking into the laundry business should askthemselves what the benefits of having a drop-off laundry counter.
