The laundromat industry has been thriving since the 1900s and is poised for even stronger growth. The COVID-19 pandemic proved the necessity of laundromats as they were considered essential businesses. Advances in technology have greatly improved the laundry experience, with smartphone users now able to connect with washers and dryers to monitor their laundry status and make payments through apps. Franchise designs have also evolved to include amenities like flat-screen TVs, Wi-Fi, and children’s play areas.
The laundry business is an attractive franchise option with a low failure rate – more than 90% of new businesses are still running strong after five years. There are different franchise opportunities available to suit each area’s needs, from self-serve laundromats to those that offer wash, dry, and fold services.
There are two main types of laundromat franchises: laundromat franchises that provide washers, dryers, and product inventory, while the franchisor helps with location, design, and marketing. The other option is a laundromat equipment franchise that focuses on providing commercial-quality equipment at a specific location.
Starting a laundry franchise requires liquid cash ranging from $100,000 to $300,000, with franchise fees ranging from $30,000 to $75,000. Franchisees benefit from brand recognition and access to quality equipment at a reasonable price. After the initial setup, owners focus on maintaining the equipment and utilities as few employees are needed, except in cases where additional services like washing, drying, and folding, or pickup and delivery are offered.
A traditional coin laundromat makes a net profit that ranges from $15,000 to $100,000 per year, while a laundry franchise performs much better, with some generating $10,000 to $40,000 in monthly earnings.
Several laundromat franchises are available, each with its unique offerings. The Eco Laundry Company uses energy-efficient machines and renewable energy and charges a franchise fee of $30,000. Speed Queen offers App-based payments and pick-up/delivery services, with a franchise fee of $300,000. Maytag’s commercial equipment is cashless, with remote monitoring capabilities and requires $75,000 in liquid cash. Supersuds and Zoom Express franchises focus on speedy wash and dry times while WaveMAX offers a detailed analysis of the potential for customers in the target area. Express Laundry Center, Martinizing, Statewide, and Laundrylux are other popular laundromat franchise options.
Location is the top priority when choosing a laundromat franchise; the facility should be conveniently located to customers. The industry is expected to evolve to meet customer needs, with more add-on services like washing, drying, and folding or pickup and delivery.
To make a laundry business stand out in a competitive market, the facility should be well-maintained, clean and comfortable, and should offer additional services that meet customer needs. Ultimately, investing in a laundromat franchise can be a profitable and rewarding venture.
