The Wayback Machine - https://web.archive.org/all/20050104064200/http://www.businessseek.biz:80/article-directory/article-439.html
BusinessSeek.biz Business Directory & Search Engine
Tsunmani Earthquake Donate Online - http://www.dec.org.uk/   Questions? Click here to chat.
Advertise | New Sponsors | New Listings | Top Referrers | New Articles | Site Map | Sponsor Accounts
Search for in Advanced
Business Directory >> Business & Finance >> Article
Featured Links

New Articles
Pros & Cons of Refinancing
All About Credit Card Balance Transfers
How to Meet Quality Standards with ISO 9001
7 Ways to Stop "Selling" and Start Building Relationships
Things You Need to Know Before You Book a Hotel Online
How You Can Learn to be a Better Manager
Is the Coin Laundry Business Right For You?
Successfully Adding A Service To Your Business
Expect Success to Stay Self-Motivated and Get Great Results
Tips that Increase Revenue for an Attractive Fee Schedule


Is the Coin Laundry Business Right For You?
Category: Business & Finance
  New     Submit An Article

Is the Coin Laundry Business Right For You?

According to the Coin Laundry Association, laundry centers and coin laundries average a powerful 20 to 30% return on investment....

by Ilene Fudim

According to the Coin Laundry Association, laundry centers and coin laundries average a powerful 20 to 30% return on investment. A successful laundry owner offers 6 powerful insights on why you too can and should achieve great financial rewards with part- time effort. Are you ready to join the ranks of the many successful entrepreneurs like Dan King who are "cleaning-up" in today's commercial laundry industry?

With stock market fluctuations and an uncertain economy, many Americans have a difficult time finding investments that can survive recessions and economic downturns. However, the commercial laundry business with its 20 to 30% ROI is almost recession proof. In fact both Dun and Bradstreet and the SBA have cited it as one of the 10 top safest business investments one can make. Believe it or not, that’s just one of the many powerful reasons so many retirees are looking to invest in their own laundry stores. The fact is that coin laundries and vended laundries are one of the most advantageous part-time and retirement businesses that exist.

An Owner Lists the Benefits

According to Dan King, owner of several coin laundries in Southern California, “I highly recommend investing in this industry – it has worked wonderfully well for me and it can for you. Before I invested I considered 6 major benefits that Laundry Center ownership offered and that no other investment provided."

  1. First, I didn’t have to give up my regular job. I found that Coin Laundries basically run themselves, which was great for me because I was looking for an absentee manager situation. The fact is they require just a couple of hours a week and are so easy to operate that basically anyone, anywhere can own one or more.

  2. I also liked the fact that this is a ‘turn-key’ business, where you don’t need staff on the premises. You can set your laundry to stay open 24 hours a day, or you can have an automatic door-locking system on a timer set to open and close when you choose. I personally keep my laundry stores open full-time and that works well for my customers and for me.

  3. Another benefit is that you can own a laundry near your home or further away. They thrive in every state of the union. Coin laundries can be placed in virtually all neighborhood shopping centers and perform exceptionally well in renter-occupied, densely populated, lower-income areas. Your average customer will be the estimated 89 million people who live in rental housing, which is the fastest-growing housing segment in the nation.

  4. Even better, this is an “All Cash” business with no inventory and no accounts receivables. You can expect a high return on investment, liquidity, tax benefits, and fast growing equity. Whatever your cash down payment is at the time of purchase, you can typically expect to get back within seven years, or sooner. Like buying a house, equity builds and you ultimately can expect a substantial profit.

  5. Once set up, I found that coin laundries paid off like a “cash machine” week in and week out. Let’s face it: people will always need to wash their clothes, which is why laundry centers thrive in periods of both growth and recession. In fact, when times are slow and homeownership decreases, the self-service laundry market thrives as more people are unable to afford to repair, replace or purchase new washers and dryers, or as they move to apartment housing with poor or nonexistent laundry facilities.

  6. Finally, I loved the fact that I could purchase an existing coin laundry to fit my budget, available investment dollars and personal requirements. Coin laundries generally require between 1,500 and 5,000 square feet of retail space, depending on the market size. Most laundries occupy retail space that is rented on a long-term lease of 10 years to 25 years, including option periods. The cost of buying a vended laundry can range from less than $50,000 to more than one million dollars, depending on size, age and net income.

Bottom line, Dan King is one of many successful entrepreneurs in our dynamic industry. In fact, there are over 35,000 coin- and card-operated laundries in the United States, generating more than $3.5 billion in annual revenue and these numbers are growing! Millions of families use laundries every day. But most people don’t realize that those same laundries offer even better ways to “clean up” than with water, soap and bleach. With the primary customer representing the fastest growing segment in the nation -- the laundry business is amazingly stable, and dependably profitable. After all, families need clean towels and sheets whether the stock market is up or down. They need clean clothes in summer and winter, on vacation or working, whether they’re newborns, teenagers or retired.


About The Author

Laundry Center MarketWatch

Ilene Fudim is a nationally recognized expert in the coin operated laundry industry and a contributing editor to the Laundry Center Marketwatch newsletter. She has been instrumental in helping launch many successful coin laundry businesses.

 
Rating: 0.00 (0 votes)
Comments: 0 - Write a comment - Posted: 2/1/2005 - Updated: -
 
Category: Business & Finance | New Articles | Page Top
 

Rate it

Is the Coin Laundry Business Right For You?

Please rate this article between 1 and 5 with 5 being top.









Directory Categories
Automotive
Business & Finance
Computers & Software
Education & Research
Employment
Entertainment
Government & Law
Healthcare & Beauty
Home & Garden
Industry & Engineering
Internet & Online
Real Estate & Development
Retail & Shopping
Science & Environment
Small Business
Society & Culture
Sport
Telecommunications
Travel & Tourism
World

Article Categories
Business & Finance
Computers & Software
Employment
ERP Systems - Reviews
Healthcare & Beauty
Industry & Engineering
Internet & Online
Investment
Marketing Strategies
Retail & Shopping
Search Engines
Small Business
Travel & Tourism
Web Development

Advertise With Us
Advertise with Business Seek .biz

Partner Program

Traffic Rank by Alexa




Advanced
Home | Refer A Friend | Affiliates | Link To Us | Submit A Site | Submit An Article | Web Submit | Contact Us
Copyright © 2003 - 2005 BusinessSeek.biz - Business Directory & Search Engine. All rights reserved.