Do you have a passion for starting your own dry cleaning business? If so, it may be a lucrative opportunity for you, as the market size for the industry in America was estimated to be $10.82 billion in 2021. With a predicted compounded growth rate of 4.5% from 2022 until 2030, owning a dry cleaning franchise could be a profitable venture.
The first dry cleaning businesses appeared in the U.S. in the early 1820s. Today, the industry continues to see growth, with laundry services and smart laundry technology driving its expansion. However, industry publications, such as American Drycleaner, have predicted a shrinking market, so it’s important to be both automated and innovative to make a successful go of it.
Currently, there are 28,592 active dry cleaning companies in the USA. Although this number has declined slightly, there are still many profitable franchises that have stood the test of time. Consider some of the following top-performing franchises in the industry:
1. Speed Queen: With over 1,200 franchise units globally, the initial franchise fee for Speed Queen is $15,000, with an ongoing royalty fee of 2-4%.
2. Lapels: This company specializes in eco-friendly solvents and offers shoe repairs and leather processing. The initial investment needed to get started ranges from $91,502 to $710,122.
3. WaveMAX Laundry: With an initial franchise fee of $49,950, the owner of this franchise is Dennis Mulgannon, who owns other successful businesses such as Junk King.
4. Martinizing Dry Cleaning: Founded in 1949, this franchise offers a variety of services such as alterations, wash-and-fold, and wedding gown cleaning. The initial investment needed to get started is between $419,650-$730,525.
5. Tide Cleaners: A well-known brand and a subsidiary of the Procter and Gamble Company, Tide Cleaners was founded in 2008 and has an ongoing royalty fee of 6.5%.
6. Comet Cleaners: This family-owned franchise has been around since 1947 and has an initial investment ranging from $15,000 to $30,000.
7. Zoom Express Laundry: Full-time attendants are staffed seven days a week, for 16 hours a day.
8. ZIPS Dry Cleaners: This franchise uses 100% biodegradable plastic bags and has a high initial investment ranging from $745,700 to $1,300,000.
9. DryClean USA: With over 400 global units, this publicly traded Envirostar franchise requires an initial investment between $261,500 and $606,500.
10. The Eco Laundry Company: Founded in 2010, this eco-friendly franchise charges an ongoing royalty fee of 6% and an initial franchise fee of $30,000.
11. OXXO Care Cleaners: With over 50 franchises globally, this franchise requires an initial investment of $475,500 to $667,000 and has a small ad royalty fee of 1%.
Choosing the best dry cleaning franchise for your needs requires consideration of factors such as brand reputation, franchise support, fees and other costs, the franchise agreement, assessments of market demand and competition, the location and accessibility of the laundry business, the proven business model, training and support in laundry services, and the types of dry cleaning services available.
In conclusion, owning a dry cleaning franchise can be a lucrative and potentially successful business opportunity. With the right mindset and careful consideration of the above factors, you can make a profitable investment in the industry.
