Laundromats provide washing, drying, and folding. They are places open 24 hours for people to wash clothes. Self-service ones have coin/card-operated washers/dryers. Full-service offer washing, drying, and folding.
People without a washer/dryer at home come to clean large items. Laundromats get busy during the day with long wait times. Morning or after midnight are best since some have peak pricing.
Laundromats generate $5 billion gross yearly revenue in the U.S. The average laundry customer spends $1.50-$4 per load. They make 20-35% cash-on-cash ROI with the value of individual laundromats ranging from $50,000 to over $1 million, generating $15,000 to $300,000 yearly. With flexibility, low labor costs, and customers providing labor, laundromats have been expanding by 9.4% yearly.
Laundromats fail without nearby customers — they need locations where people need the service. Some fail within a year. Ways to help them succeed include good management and funding.
Laundromats in the U.S. see an average cash-on-cash ROI of 20-35% – much higher than most alternative investments. They offer the benefits of a profitable investment without the high risks typically associated with such returns. Marketing and strategic management are vital to attract and retain customers.