It isn’t easy to develop a profitable, efficient and attractive coin- or card-operated laundry. That’s why investors often turn to Skyline Equipment for assistance. We are experienced developers of successful self-service laundries, equipped with energy-efficient equipment and specialized services designed to attract a wide array of customers.
A Recession Proof Business
Card/coin laundries are often buffered from fluctuations in the economy because clean clothes, like food, water and shelter, are a basic human need. When the economy is slow, there is often a greater need for self-service laundries because ownership of washers and dryers decreases. Moreover, it’s often less expensive to launder clothes at a coin laundry than it is to do them at home!
There is a bright future for the storeowner, because homeownership is just 63 percent of the population in Texas. That means renters occupy 37 percent of the state’s 9.2 million households. Historically, renters have been major contributors to self-service laundries.
Popular with Homeowners
Coin laundries are also appealing to non-renters. With the average American workweek extending to more than five days, using a card/coin laundry saves time. It also saves money. Customers can save on their utility bills by doing their laundry at a card or coin laundry. With new highly efficient equipment and high-speed technology, storeowners are successfully decreasing utility costs by as much as 30 percent, as well.
Coin laundries are also drawing families with washers in their homes, professionals and singles. Families visit laundries to clean rugs, comforters, drapery and tablecloths, for example. And professionals and singles take advantage of services such as wash/dry/fold and drop-off drycleaning! All can contribute to the coin laundry volume and profit.
Locating Your Store
Store location is key to the success of your store. That's why it's critical to locate your store in a demographically appropriate area. There are many factors to consider, including traffic density, population, competition, availability of utilities, store visibility and even parking! Skyline works hard to locate and evaluate potential laundry sites to ensure they have business potential.
Card- and coin-operated laundries can make excellent business investments. The typical store operates on a cash-in-advance basis with little inventory; thereby eliminating risks such as a control shrinkage, theft or spoilage. Plus, a card or coin laundry is an owner-controlled business, creating a great degree of management control.
Card- and coin-operated laundries most often pay for themselves in only a few years and can be sold at top dollar, according to the Coin Laundry Association (CLA), a non-profit, coin laundry trade association. In fact, most card and coin operated laundries enjoy higher resale values, even though laundry equipment depreciates. CLA research indicates that coin laundries typically sell for between three and seven times their net cash flow – with average historic returns exceeding 40 percent. With today’s new high-speed laundry equipment, which saves laundries significantly in utility costs, profits and resale value improve even more!