Have you been thinking about buying a laundromat but you’re not sure if it’s a smart investment for you to make or not?
It’s understandable that you may be “on the fence” about buying a laundromat because it’s a brick-and-mortar investment, and there’s equipment involved. Thankfully, there are a wide variety of reasons to buy a laundromat including the following:
Easy To Get Started
A laundromat is by far one of the easiest business models to understand and when you buy an existing laundry business, it’s going to be even easier because you will be investing in a business that’s already producing revenue, while offering a valuable service to the community.
It Has A Built In Customer Base
Another reason to buy a laundromat is that it has a built-in customer base. This is true regardless of if you’re buying an existing laundry business or investing in a new laundromat. A laundromat is a business that’s always needed by residents of the community, or people who are vacationing in the area, since everyone needs clean laundry.
No delays On Getting Paid
Cashflow is king in any business and the same is true when you own a laundromat. You can expect to earn regular cashflow and avoid delays getting paid especially if you retain a group of consistent customers who use your laundromat on a weekly, or bi-monthly basis.
Besides earning cashflow from regular customers, you can also generate additional revenue streams by offering a laundry pickup service in the community and dry cleaning.
Not A Seasonal Business
So far, we’ve offered you several great reasons to consider investing in a laundromat; another excellent reason to add to the list is that laundromats are steady businesses that are not impacted by seasonal trends, tourisms, economic declines, or other factors.
That’s right, with a laundromat you can expect consistency because it offers a valuable service that people need and that demand is only expected to grow as more people will be doing their laundry away from home.
A Business That Fits Into Your Schedule
Last of all, a laundromat is a business that will fit into your schedule, and you can easily train employees to manage it while you’re away focusing on growing your other business ventures.
Is a laundromat a good investment?
Laundromats make great cash-flowing investments. With an average, unleveraged return of 20-30%, the average laundromat investment is far superior to the average real estate investment, which will produce between 7-10%. The average dividend yield for the financial sector is just 4.7%.
By Jeremy Raglin, Content Writer
Also see: The Laundromat Start Up Ebook©, Laundromats For Sale,