If you are looking for an additional revenue stream that affords you some flexibility and a guaranteed income, a coin-operated laundry facility is a great option. We have compiled a quick list of the top 7 reasons to consider entering the commercial laundry business by opening a coin store.
- A laundry operation is inherently resistant to recession. Despite shifts in the economy, the need for clean clothes and bedding is considered a necessity, not a luxury. Your business will always be needed.
- You will have flexibility with your current career. Many coin-operated laundry owners have other full-time jobs and enjoy maintaining and owning their laundry as a part-time endeavor.
- Coin stores do not require high labor costs. On the contrary, you will not need expensive or highly skilled labor to keep your laundry in operation. You can hire full or part-time employees to attend to customers at a reasonable cost.
- There’s no inventory. Unlike other retail operations, your coin store has one purpose: to wash and dry clothes. You do not have to track or maintain inventory.
- As the owner of an all-cash business, you retain control over your money. There’s no need for a cash register; instead, you can have a coin box.
- Coin-operated laundry facilities are highly valued. If you want to sell your business, you will benefit from traditionally high demand from new investors as well as existing laundry owners.
- You will benefit from a high ROI. Coin-operated laundry facilities offer a high rate of return on your investment with low effort required, unlike any other new business venture.
The experts at Lakeside Laundry Equipment can help you throughout the process of becoming a new coin store owner and operator. Call today to learn more.