4Questions and Answers You Should Know Before Buying a Coin-Op Laundry
Why should I invest in the coin laundry business?
A coin-operated laundry is a smart investment, particularly in today's economy. It's an all cash, self-service, low labor, recession-proof business with a high return on investment. You have no inventory and no receivables to worry about. An attendant can add an additional profitable wash, dry and fold service. Self-service laundries have been a growth business in the 8O's and will continue in the 90's. Since women make up 65% of the work force today, their time is valuable. Their use of self-service laundries will increase. And with today's wash-n-wear clothing, you'll find more and more people turning to self-service laundries for their laundry needs.
Who should buy a coin laundry?
People from all walks of life, inducing retirees, should invest in coin laundries. It is a basic, common-sense, vital service business requiring minimal labor.
How much can I expect to earn on my investment?
Much of what your coin laundry will generate depends on how well you manage it. Some important factors in the success of a modern coin laundry are its location, the size of the store, the mix of equipment, the hours of operation, advertising and promotion. Depending on these variables, especially its size, a coin laundry can gross from $1,500 to $10,900 a week or more. The 1993 average return on investment nationally was 48% as per industry trade publications.
How much should I expect to pay for utilities?
If your machines are water and energy efficient, and designed for heavy-duty commercial use, the utilities cost will average 15-20% of your monthly gross income depending in which part of the country your laundry is located.
What is a good location?
Your coin laundry should be located in a high-traffic, densely populated, low-to-medium income area, with parking availability. Coin laundries also do well in middle-to-high income areas with single family homes because many two income families find it more convenient time and cost efficient to use the local coin laundry with its wash, dry & fold service. They do not wish to be tied up with laundry chores at home. Furthermore, in today's mode of life, many young couples do not have the desire or need to buy a washer or dryer, they use coin laundries.
Can a equipment dealer help to find and evaluate a location?
Among the many services Fabric-Care Industries provides is a free evaluation of your location, store design, and equipment recommendations. We also provide assistance in negotiating a lease.
What type of washers should I buy?
Front load professional washers, since a modern coin laundry is a
professional laundry where the customer supplies his own labor and the coin meter is the
cash register. The equipment you install for your customers to use is the most important
factor in the success of your business. Customers must be more satisfied with the wash
results they get in your laundry than with the wash they get in a laundry down the street
or at home using an appliance washer. Customers appreciate being able to choose from a
wide range of machine sizes to wash items like bedspreads, rugs, curtains or big family
bundles. Your equipment must be dependable and easy to maintain and have a long useful
Fabric-Care Industries has 38 years of experience in the professional self-service laundry equipment market with an unmatched reputation for quality, reliability, water and energy efficiency. Providing washers in sizes and models for every laundering need.
Why not install appliance-type toploading washers?
Toploaders are inappropriate for a professional coin-laundry because they use up to 60% more water and energy. Topload washers don't wash as well since they are primarily designed for home use, are not built for heavy coin-op use and therefore last an average of only 3 to 5 years in a busy coin laundry (compared to 20 years and more for Heavy Duty Front Load Professional washers). The result is that you'll earn much less money with toploaders and spend much more money on repairs and replacement. Once your customers have used a professional front-loader, they'll never go back to using a toploader again.
Where do I get financing?
Fabric-Care Industries can arrange, through several credit sources with prime-rate-based, low-cost financing for your equipment. Credit approvals can be obtained in 7 working days.
The Fabric-Care Industries Peace of Mind Guarantee!
When you build a new or retool an existing coin laundry with Fabric-Care Industries washer/extractors and dryers, you're making a smart investment in the best money-making coin laundry equipment from a company which provides the best customer service and the best financing.
You not only buy the best laundry equipment and customer service, you buy a company with over 38 years experience in the laundry industry. You can be assured that Fabric-Care Industries a authorized dealer will be there whenever you need assistance in financing, laundry design, location or turn-key installation.
For more information and a free consultation on how you can own a coin laundry business or make more money with your existing coin laundry, call Fabric-Care Industries today at (914) 463-1622 or Contact Us!