Coin Operated Laundry Equipment For Your Laundromat Business: A Brief Introduction
Are you considering investing in coin operated laundry equipment for your coin-op laundromat business…?
Choosing to invest in coin operated laundry equipment can develop into a reliable source of income. Many investors and entrepreneurs have become successful with their coin-op laundromat business.
There’s a customer base of 104 million people living in rental housing, the average coin-op laundromat can generate cash flow between $15,000 and $200,000 per year with a market value between $50,000 and $1 million. A laundromat business remain productive or improves during recession (due to an increase in the rental market). Coin operated laundry equipment occupy their retail space on long-term leases of 10 to 25 years.
There definitely must be something to this business since people are passing in and out, filling up laundromats during all business hours of the day. The success behind a coin operated laundromat starts with the stability of the industry.There are 35,000 coin-op laundromats across the US bringing in a total of over $5 billion in revenue annually. After 5 years of operation, the success rate of a laundromat is virtually 100%.
Coin operated laundromats are self-service businesses. They break down in only three categories: Janitorial, Maintenance and Money Handling. These jobs can be performed by a single person and with new technologies, maintenance and money handling can be almost entirely automated. Another advantage to this business is that customers can pay upfront. All they have to do is pre-pay for their services and go on their way once their laundry is finished.
It’s well known that coin operated laundromats businesses perform better in densely populated areas. Even during slow economic periods your laundromat business income can improve.
If you want to know more about coin operated laundry equipment and their advantages for your coin operated laundromat business, contact the team at Coin-O-Matic.
You can stay assured they are a team of professionals who share commitment to customer satisfaction, ensuring you get the quality equipment you want in the quickest and most cost-effective manner possible. You can find them in Miami, Miami Beach, Hollywood, Fort Lauderdale, Boca Raton, West Palm Beach and Florida Keys.