5 Reasons to Consider Going Into the Laundry Business
In today's workforce, it's easier than ever to move along to something bigger and better. In fact, 2021 is being described as The Great Resignation as workers, entrepreneurs, and even business owners consider opportunities that are profitable, provide flexibility, and don't run into traditional staffing issues.
This is the perfect time to consider going into the laundry business. Not only is it profitable and provides flexibility, but there are also numerous other reasons, as well.
The laundry business is profitable.
The U.S coin-operated laundry market is expected to grow from $1.9 billion in 2018 to $2.3 billion in 2025. Now is a great time to catch this growth wave that can achieve an ROI of 20- to 35-percent.
The laundry business has longevity.
People always need clean clothes, and the coin-operated laundry business is considered to be recession-proof, something everyone considers when thinking about stable careers and employment. Operations have a 95-percent chance of being open after five years.
Laundromats are scalable.
By their nature, creating a second laundromat follows the same processes as creating the first. It's a scalable business model that simplifies growth and encourages expansion.
Labor issues aren't as big in the coin-laundry business.
One brilliant thing about coin-operated laundromats is the actual exchange of money, the point of sale, does not require staffing. Sure, the staff is needed to manage, maintain, clean, restock, and other functions, but coin-operated businesses require less staffing than traditional business models.
The laundry business provides flexibility.
For owners and operators, reducing the need to have someone onsite at all times, monitoring every aspect of the business, and accepting cash from customers means it provides a more flexible lifestyle than other types of operations or professions.
Looking for more insight on the coin laundry business? Curious to know if it's right for you? Download our free eBook that goes in-depth as to what's required and what you should consider before taking the laundromat leap.