Have you been thinking about starting a laundry business in your city or state but you’re not sure if it’s the right time due to the recession? If so, you’ve come to the right place!
There’s no denying that the economy is in a recession, but the good news is that a laundry business is recession proof because of one reason, everyone needs to do laundry and there are more people than ever before who are doing laundry at a laundromat.
A $5 Billion Recession Proof Industry
The economy has been hit hard in recent years following Covid-19 but, laundry businesses continue to enjoy steady growth nationwide because clean clothes is a commodity that people need, and the average consumer knows that they must budget for laundry expenses each month.
When other industries nationwide have seen a decline in recent years, laundromats continue to enjoy steady cashflow and ROI because there are also more renters than ever before nationwide who will be doing their laundry at a laundromat.
This is a win-win for investors because it doesn’t matter how long the economy stays in recession, if an investor owns a service that’s always in demand, they will continue to make steady cash flow each month.
Low Operating Costs and High ROI
Another HUGE benefit that comes from investing in a laundry business is the fact that they have low operating costs and high ROI.
Why? The answer is simple, when you own a laundry business your primary operating costs are electricity, water, and your employees.
Once employees are fully trained, it’s not uncommon for a laundromat to enjoy ROI as high as 20-35% and most new laundromats are still in businesses after 5 years!
What’s even more ideal is that you can keep your primary business or job while outsourcing the day-to-day management of your laundromat to your employees.
Yes, a laundromat is one of the best businesses that you can invest in this year since it’s a recession proof business with plenty of growth potential in 2023 and the years to come!
By Jeremy Raglin, Content Writer for LaundryBizCenter.com