A laundromat is one of the best cashflow businesses to own because of one reason, everyone needs to do laundry, and more people than ever before are doing their laundry at a laundromat.
Although laundromats are essential, the reality is that the location of the laundromat is equally important because if there’s little to no demand, that location will fail.
Therefore, in this article we will share with you several tips for choosing the right location for your laundromat.
Choose A Location with A Lot of Renters
Let’s face it, more renters are going to use laundromats versus homeowners. Why? The answer is simple, the average homeowner owns a washer and dryer and they won’t think twice about doing their laundry at home.
When choosing a location for your laundromat, you need to identify the type of community, and confirm if more renters live there than homeowners because, it the location has a high percentage of renters, it’s likely that there will be a demand for your laundromat.
Ideally, the location that you choose should be on a busy street, have plenty of parking and if it’s close to a convenience store, dollar store, or fast-food restaurant that’s even more ideal because people can start their loads of loads of laundry and have something to do while the wait.
Review Your Competitors in The Area
Once you decide on a location for your laundromat, it’s equally important to review your competition in the area because you don’t want to start that new location without knowing the other laundromats nearby.
Some laundromats may have been in the area for years and people often get used to going to the same laundromats more than once even though there may be newer laundromats in the area.
After learning more about your competition, you should visit those locations during peak hours to determine how they are being used.
- Is there space in the parking lot?
- Are there available washers and dryers?
If the answer to either question is no, that’s good news because the neighborhood will most likely benefit from having another laundromat in the area.
Partner With a Company to Help You Find the Right Location
Need help on your laundromat journey? Laundrylux can help, they have decades of experience in the laundry industry and can assist you with choosing the right location, financing, marketing your business and more.
Source: Laundrylux, visit their website today at https://laundrylux.com.