To say the laundromat industry has changed in major ways through the years is an absolute understatement. From the efficiency of equipment and focus on customer experience, to the additional revenue streams and management systems, operating and visiting a laundromat is vastly improved than 20 to 30 years ago.
Equipment flexibility is also at the forefront of making locations, that years ago wouldn’t be options, not just viable, but extremely profitable. Below are situations that have opened up opportunities for new investors and current owners pondering expansion.
Great location, but small square footage. Back in the days of cramming every square inch of floor space with equipment, small locations were non-starters. Today, unique products have changed that. Owners and investors can tap into stacked equipment to maximize available space. While small chassis washer/dryer combos are in option, it would be tough to get the vend to justify the return solely with such models. However, the advent of the stacked washer-extractor/tumble dryer changed the game by delivering exceptional multi-load capacity (30- and 50-pound options). A combination of stacks and perhaps a few 30- and 45-pound stack tumblers quickly make “small” locations profitable options.
Strong demographics and excellent location…but it has a basement. Softmount washer-extractors allow these sites to work. Because they don’t require the foundations that hardmounts do, their installation flexibility opens up location options that couldn’t work years ago.
So, if the demographic and traffic numbers work, there’s a good chance that equipment options are available to make the location viable. Current finance and equipment specials also could make investing or expanding a current business to multiple locations even more profitable.