4 tips for laundromat investors new to the business

You’ve done all the business research and have come to one conclusion – laundromats are the way to go. Investing in this business will deliver the ROI you seek and enable you to operate it as you want.  So, why not take the advice and tips of veteran store owners to avoid pitfalls and get off to a good start.

Pick a rockstar distributor. While it seems like the natural flow is to pick an equipment manufacturer first, experienced owners say choose the distributor first. If they are a great, experienced, full-service distributor, they likely represent a high-quality equipment brand.

Absentee owner? Most owners will tell you the hands-off idea investors have of laundromats isn’t reality – if you are doing it right. Off-site management systems and cameras certainly help owners stay current, but the industry’s most successful owners spend time in their stores or have a manager(s) heavily involved. The point is, being there matters.

Give customers space. When approaching the layout of your laundromat, don’t occupy every square inch of space with equipment. Today’s popular laundromats focus on a floor plan that gives customers space to move around and not bump into others. A great customer experience means you can charge more.

Don’t cheap out. High-quality equipment with flexible, user-friendly controls makes a huge difference in terms of upsell opportunities, maintenance, and, of course, resale value when you sell the business.