Is coin laundry a good business to start?
- oldprofLv 71 year agoFavorite Answer
Can be. But location location location. You need to do proper market analysis to find a location where there will be regular customers to use your laundry service.
Near a large university, for example, where the students would have laundry needs but live in apartments or dorms that have no coin machines.
Chances are that someone has already set up a coin business so it would be your competition. But you can learn from it by seeing if there are enough machines to handle the demand.
If the customers backlog and have to wait long minutes to get a machine, you might want to put your place close by and those who would stand in line can come to your place instead. On the other hand, if half the machines are empty and not working most of the time you wouldn't want your place close by at all.
Low rent tenements are also good prospects as many if not most of those residents would not own their own machines. Another possibility is around vacation rentals where the renting residents would need to do laundry mid-vacation for example.
If you are truly interested I recommend you find a successful laundry machine place and take notes on what makes it successful. Find out what the customers look for and use...and what they don't use too.
And work out the service rate: how many machines are needed to service how many customers per hour for example. You'll need that to figure out how many you'll need to start your business.
- Anonymous1 year ago
Poor people don't mind being smelly and everyone else has a washer and dryer.
The only time I use a coin op laundry is when I'm washing something i don't want to put in my own washer.
- Huh?Lv 71 year ago
Coin laundries require a fairly large capital investment in equipment and must be in an appropriate location. A coin laundry in an affluent area where most residents have their own washer and dryer, wouldn't make sense, so choosing a location is important.
- tek1intLv 41 year ago
Yes, after the suggested analysis given above. Like convenience stores, in the right conditions, they can stay in business for a long, long time.
- How do you think about the answers? You can sign in to vote the answer.
- Elaine MLv 71 year ago
Only if there are a lot of apartments in the area. Homes generally have their own washer and dryers.
- ntLv 61 year ago
For someone with no experience & limited funds? NO WAY.
- 1 year ago
What are you chinese??😂😂