Laundromats

[tomdawg]

Anyone on here own laundromats?
Successful? Dying industry?
Always have been interested in them. Talked to a speed queen rep and seems to be very knowledgeable.

 

[launderess]

IIRC at least one member is in the laundrette business. Maybe he will see this thread and chime in with comments.

OTOH can tell you owning a laundromat is not the easy quick way to riches laundry equipment vendors would have people believe.

SQ, Wascomat and others have those seminars with slick promotions, glossy handouts all about how one can build wealth and financial security owning a mat. That may be true, but it is very hard work and not everyone succeeds. Equipment companies want to get people on the hook for leasing washers, dryers, etc...

FWIU in many urban areas like NYC, SF, LA, etc... self serve laundromats are a dying business. Influx of new construction housing for higher income people most always either includes washer/dryer in apartments (or at least connections), or there is a central laundry room on site. Our local laundromat says they make most of their money doing wash and fold service.

Service washes, laundry services also are cutting into laundromat business. People just don't want to bother so they either drop things off at local laundromat (service wash), or use one of the various collect and delivery services/apps.

https://www.theatlantic.com/busines...ne-american-laundromat-gentrification/535257/

All this being said for someone with a good head on his shoulders, and is willing to roll up his sleeves a laundromat can be a good business.

https://napavalleyregister.com/busi...cle_17a8ed0a-a8a6-57ac-9f7b-f88b78cb8783.html

Probably best way to get started is by buying an existing laundromat (again with eyes open wide), but as noted in above linked article owners of good ones often aren't interested in selling. However if homework is done and spot a diamond in rough (a place that has potential), things can different.

 

[sudsmaster]

Here's one in Oakland, California that appears to be on the right path: Lake Merritt Laundromat

https://lakemerrittlaundromat.com/

.

https://www.yelp.com/biz/lake-merritt-laundromat-oakland-2

 

[pro104]

I'm a Laundromat owner.

 

[iheartmaytag]

Maybe a little off topic

I'm sorry if so. The little Mom and Pop laundries seem to be dying in our area, but the large Mega-washtown type of laundry centers are popping up in several areas.

Having a laundry was always my dream. I wrote for my economics paper the benefits that laundries are to the community. In those days, 30 years ago, You plop a laundry next to an apartment complex, a trailer park, you have it made. The lower income neighborhoods, are the better sites, as many can't afford home laundry equipment. There is also the event when the washer breaks down, and the laundry is needed for an emergency as you can't afford to have the washer repaired.

What seems to have changed that trend. Apartments with Laundry Hookups. Those rent to buy places that make Laundry equipment affordable, and Used reconditioned appliances.

It is still my dream to have a laundry, but with the cash outlay that is required now it is just prohibitive.

 

[bradfordwhite]

Probably be better off offering pick up and delivery service ONLY and operate from a lower cost warehouse rather than having the overhead of a prime retail location.

More people will likely use that service as well.  You'd also have less liability issues and more flexibility in your schedule.

 

[sudsmaster]

I relied on laundromats until about 1979, when I moved into a rental house with a washer in the garage. Cold water only, but it was a nice old Maytag. The place was sold and I had to move out, and I sort of kick myself for not taking that Maytag with me. But the new place had a belt-drive Whirlpool top loader, right next to the water heater. It worked well, and I put a little WCI gas dryer in the kitchen next to the gas range and vented into the (unused) chimney port near it. Again, I kick myself because 12 years later when I bought this place, in 1997, I donated the old belt drive Whirlpool to Goodwill - this place had a matching GE Filter Flo set. The GE was an electric dryer, and I replaced that with the WCI gas unit I brought with me. Donated the matching Filter Flo electric dryer as well (another mistake). Finally replaced the Filter Flo washer with the Maytag Neptune 7500 set (gas) but hung onto the Filter Flo washer which I still have, but is stored in the workshop. Along with other classic washers I picked up along the way.

 

[launderess]

From a commercial/business prospective

App based laundry services have grown over past decade or so; but nearly all these places have basically same issues that have long plagued industry.

First and foremost keeping track of people's laundry so everyone gets back exactly what was sent.

https://www.yelp.com/biz/cleanly-brooklyn-2

Other issue is people just don't like their laundry washed and dried with all and sundry. I mean you don't know where they've been and what you'll catch do you?

One of major selling points for home washing machines was that Madame could safeguard the health and safety of her family by controlling where and how her laundry was done. Yes, risk of contagion from wash is low, but still many are bothered.

Laundromats with multiple washers/dryers at least can do each order individually. However they are paying dearly for all that equipment.

Run the sums; processing "X" pounds of laundry per day using one washer and maybe two dryers; versus multiple machines.

 

[peterh770]

I happened to be in the neighborhood...

I too am a laundromat owner...

Mega laundries are on their way out. The trend is to smaller laundries with fewer machines, but the machines that are in there will be large (more profit per square foot). The mix seems to be 10 or fewer doubleloads, then right into the 40#, 60#, 80#. And there will be more #50 dryers than the typical #30.

It is a good business, but you need to give it a lot of attention. As soon as you start slipping, it all goes to hell pretty quickly.

And the secret of the business: sell it when business is GOOD!

 

[askolover]

There are two good sized laundromats near me and both are managed by the same man, but I don't know who actually owns them.  They are well-maintained.  The one on the north side of town was recently renovated...it used to be full of Maytag Neptunes!  Now it's all SQ.  The other one is next to an apartment complex.  It has a couple of 100# washers, a few 80#, a few more 60 and 40# washers, as well as a row of SQ like the residential machines.  There are still a few top loaders in there.  They have multiple choices for dryer size...I use the largest one to dry my 5x7 area rug.  My only gripe when I have to go there is that the water never gets hot.  I think it's so far away from the machines I use it's just never hot, so I quit paying for a hot wash!