Laundromat Terminology
Laundromats are known in the United Kingdom as launderettes or laundrettes. They are known as laundromats in the United States, Canada, Australia, and New Zealand. The term laundromat originated in the 1950s from the words laundry and automat. Laundromats make money by charging customers to use washing and drying machines. This allows customers to clean clothing and fabrics.
Financial Aspects of Laundromats
Laundromats generate about $5 billion in combined nationwide gross annual revenue per year. Coin laundries range in market value from $50,000 to more than $1 million. They generate cash flow between $15,000 and $300,000 per year. The average net profit each month is reported to be between $5,000 and $7,000 despite expenses.
History and Development
In the 1930s, self-service laundry facilities were originally called washaterias. The first washateria opened in Fort Worth, Texas. Although the personal washing machine had been invented earlier, most people in the Depression era could not afford their own. Quickly catching on, laundry stores gained popularity.
In the UK the term laundry refers to the washing of clothing and fabrics. A stand-alone laundry business is referred to as a self-service laundry or launderette. Laundry also refers to the material being washed or that has been laundered.