Are you thinking of a profitable laundromat-related business idea for a new startup?. Do you want to know which laundromat business ideas you can explore as an intending entrepreneur? If yes, we’ve got you covered.
This article will give you a list of laundromat business opportunities you can start as a full-time business or a side hustle.
The best part of the business is that you can begin without having a special skill.
Moreover, the skills needed for this business are elementary to master.
There are various unique and profitable laundromat business ideas that we’ll reveal in this blog post.
We’ll also share insight into the business’s benefits, limitations, and future relevance.
Before we begin our listing, it will be helpful if you have a glimpse of the type of business you are about to venture into.
Introduction To Laundromat Business Ideas
Let’s start with a definition of a laundromat business.
Just so you know, the term laundromat comes from the root word laundry, which refers to washing and drying clothes or other textiles.
Laundry could be done manually or with a machine, and anybody can carry out the activity.
Also, note that laundry can also be clothes and lines that must be washed.
While laundry is the act of washing dirty clothes, a laundromat is a building or room with washing machines and other cleaning materials where people come to do their laundry.
This could be in their homes or commercial space.
A laundromat owned by an individual or group to generate income by providing laundry services is a laundromat business.
Laundromat is also known as self-service laundry, meaning anyone can use these washing machines and dryers to do laundry.
As a laundromat owner, you provide the equipment and facilities your customers will use.
Meanwhile, there will have to be a standby operator that will help your customers.
This will be in case they have difficulty operating the machine.
Furthermore, you will get to charge your customers according to the weight of their clothes and issue receipts.
You can also spice your laundromat business so your customers won’t be bored while they do their laundry.
However, this will be discussed in the laundromat business ideas.
Let us see the benefits of the business.
Benefits Of Laundromat Business
There are quite some benefits of owning a laundromat.
The following benefits should encourage you to start your laundromat business.
Return On Investment (ROI)
Laundromat is one of the most profitable businesses in the business industry.
The ROI for laundromat owners cannot be compared to restaurant owners.
Also, the ROI for laundromat owners in the first year can reach 25-35%.
Meanwhile, the ROI of a restaurant generally reaches 3-5%.
Easy To Start
Laundromat is one of the businesses that have a low barrier to entry.
Unlike other businesses, you might need a professional degree before starting.
The laundromat has only a few barriers which include;
- Inventory or warehousing.
- Regulatory or compliance.
- Education or certification as a business owner.
Also, you will need a solid plan with an entrepreneur mindset to run the business.
One of the uniqueness of the laundromat business is its resistance to recession.
It’s one of the businesses that continue to grow even during a recession.
People would rather patronize a laundromat than purchase laundry equipment for their homes.
Can Be Operated As A Side Hustle
Furthermore, the laundromat can be a side hustle due to its uniqueness.
Technology has made the business easy to handle for people.
Therefore, the owner does not need to be present to see the activities of the business.
You can manage your laundromat from your laptop while in your comfort zone.
Easy Access To Finance
Laundromat is one of the businesses with fast access to finance, even if it’s a loan.
According to a study, small businesses usually take up to 60-90 days to access loans.
However, this does not apply to laundromats.
You can get your loan to start your laundromat as soon as you apply for it.
Limitation To Laundromat Business
One major limitation to the laundromat business is competition.
The return on investment has it quite a popular business venture in most regions, making it a saturated market.
Moreover, these businesses are in almost the same area or location.
Hence, the business owners will need unique ideas to stand out and get more customers.
Regardless of this limitation, it does not stop you from starting your laundromat business.
If you are ready to start your laundromat, you should look for a neighborhood with more population and ensure your laundromat is of a good standard.
Also, provide excellent customer service to outshine your competitors.
Future Relevance Of Laundromat Business
As you know, the laundromat is one of the most profitable businesses in the business industry.
Also, the success rate of the laundromat is about 95%.
The success of the laundromat business can be seen in statistics gathered by MartinRay Laundry Sysytems LLC.
The following was garnered from the study carried out.
- Laundromats are currently about 35,000 in the world.
- Also, the gross annual revenue is about $5 billion.
- Every year, the laundromats generate a cash flow of between $15,000 and $300,000.
- The laundromats do not exceed employing two staff.
To this end, the laundromat is a very lucrative business with tremendous growth potential.
5 Laundromat Business Ideas
Here are five profitable business ideas you can explore aside from establishing a laundromat.
1. App Development For Laundromat
If you are a tech-savvy individual, you should consider this business idea.
Developing apps for laundromats is one of the laundromat business ideas that can yield profits if you invest in it.
Developing apps for laundromat owners will help them operate their businesses easily and reach a wider audience.
Laundromat owners use these apps to operate, organize, and manage their business from their comfort zone.
Furthermore, it will help new owners to launch their businesses successfully.
You can also offer your service to those already operating their business by offering to upgrade the app.
You could help laundromat business owners create an app for collecting customer reviews.
The app could also be useful to help customers book appointments and/or make payments.
Additionally, if you can build an app to meet the need of the market, you might as well make a name for yourself in the laundromat industry.
The required equipment for this business is a personal laptop for app development and a good internet connection.
There might also be some software you will need to get started.
2. Washing Machine Repair and Maintenance
If you want to start a business relating to laundromats, you should consider this business.
This is also one of the profitable laundromat business ideas.
Although, before you can start this business, you need specific skills.
You need good technician skills since you will fix and maintain washing machines and dryers.
The laundromat equipment is always used time-to-time, so the machines will likely develop faults along the line.
For this reason, regular service and maintenance will be beneficial for the machines to last longer.
Also, the already faulty ones will need repair.
Consequently, your services as a certified technician will be in-demand as laundromat owners want to get their business equipment in good shape to keep their business running.
Your target market should be laundromat owners and households with washing machines.
In this business, you don’t necessarily need a physical store for this.
Your smartphone is an excellent way to start your business.
You can deliver your service to your client’s homes or business locations.
This will help reduce your startup capital.
Furthermore, you can create an online presence to reach a wider customer.
You can also offer your service to laundromats, washing machine retailers, or wholesalers.
3. Selling Laundromat Equipment
If you are not interested in the above ideas, you can consider selling laundromat equipment as a business.
A standard laundromat house consists of different laundry equipment.
These pieces of equipment include;
- Clothes drying rack
- Iron board
- Waste basin
- Detergents, and so on.
You can open a physical store and start selling the laundromat equipment.
Furthermore, you can start selling as a wholesaler or retailer.
Meanwhile, you will need to promote your business effectively to get customers.
Also, you should stock up your store with quality equipment.
4. Manufacturing Laundry Detergent
Another laundromat business idea you can dive into is to start manufacturing laundry detergent.
This is undoubtedly a suitable means of making money through the laundromat business.
Detergent is one of the essential materials in laundromat service.
It is used for most of the work done during the laundry process.
This business may be just right for you if you have good knowledge about mixing chemical materials to make detergents.
However, this is one business with different manufacturers, resulting in competition.
Therefore, you should look for a way to make your product more unique than others.
You can manufacture detergent for wet laundry machines or produce the ones used in eco-friendly washing machines.
Furthermore, to start this business, you will need to register your business with the appropriate office.
Also, you will need a warehouse where you will be able to carry out the business activities.
It will help if you get a license and business permit.
This is because it is not a business that anyone can dive into without basic knowledge or training.
5. Manufacturing Laundromats Washing Machines
One of the laundromat business ideas is manufacturing laundromat washing machines.
This is one of the most profitable and lucrative laundromat business ideas.
Although, you will need to invest a lot of capital into the business.
You can focus on manufacturing industrial washing machines.
You can also manufacture household washing machines.
Meanwhile, your manufactured laundromat washing machines should be of high quality.
You should produce quality and affordable machines to obtain a good image in the market.
Unique Ways To Level Up Your Laundromat Business And Increase Profitability
As you know, the laundromat business is a business that customers operate by themselves.
However, customers might get bored while waiting for their clothes to get ready.
You should devise a means to keep them active while they do their laundry.
Well, if you want your laundromat to stand out and be more competitive.
Then you should consider the following tips on how to promote your business.
Furthermore, these tips will help your business grow and attract more potential customers.
Laundromat With A Hair Salon
Starting a hair salon with your laundromat is one of the tips on how to promote your business.
Your customers might also need to make their hair while they do their laundry.
Merging a hair salon with your laundromat will be a profitable idea.
Furthermore, this will help save your customer time.
Meanwhile, the hair salon does not have to be for a specific gender.
This is because both males and females patronize laundromats.
This means the hair salon should be a unisex hair salon.
You can partner with a hair salon business within your area to achieve this.
Laundromat With A Coffee Shop
Another tip for promoting your laundromat business is starting a laundromat with a coffee shop.
This is another profitable way to maximize your profit.
You can open a coffee shop in your laundromat business.
It doesn’t have to be a big shop.
Although, the coffee shop should be able to accommodate like ten people if they want to sit.
Your customers can even go through their business while they sit to enjoy their coffee and wait for their laundry.
Laundromat With Bar
Another way to promote your laundromat business is by including a bar.
A bar is a business where alcoholic and non-alcoholic drinks are being sold.
This is another unique way to spice up your laundromat and maximize your profit.
It can also be called laundromat bars.
Laundromat With Bakery
This is another unique way to promote your business.
You can rent out a space in your store to someone who’s into the baking business.
Alternatively, if you like baking, you can set aside a space in your laundromat to sell your baked goods.
You can sell baked products like bread, cakes, cookies, etc.
Laundromat With Car Wash Business
Furthermore, you can start a car wash business with your laundromat.
This is one of the best ways to promote laundromat.
Meanwhile, according to Coin Laundry Association statistics, many laundromat owners merge car wash into their operations.
Therefore, featuring a car wash and laundromat is one of the best options.
Laundromat With Grocery Store
Another unique way to level up your laundromat business is having a grocery store.
You can merge with a grocery store to run the operation of your business.
However, you can open a grocery store with your laundromat if you have the capital.
This way you will make a double profit.
Your customers will be able to do their laundry and get their groceries.
Laundromat With Game House
If you need a way to promote your laundromat that will be fun for your customers, you should consider this.
Featuring a game house in your laundromat is one of the best ways.
There are different games you can make available in the game house.
These games could be educational, such as sudoku, crossword puzzles, books, etc.
Other games are pinball, crane games, pool and billard, video games, and so on.
Overall, there are different ways you can promote your laundromat.
Be sure to choose the right one for it.
Also, you should consider the business’s location before making any move.
Conclusion On Laundromat Business Ideas
Now you have various laundromat business ideas you can work on.
Every laundromat business idea is profitable in its way.
However, none of the business ideas is a get-rich-quick scheme.
Therefore, you should work hard to get the profit you deserve.
Also, you should invest in the business for it to grow.
You should also apply marketing strategy to your business.
Also, it is essential to have a good business plan.
The keys to a successful business are patience, persistence, commitment, and consistency.
Make it work!