Are Laundromats Good Investments?
Often in conversations with intrigued investors I’m asked, “Are laundromats good investments?” I own multiple laundromats and can speak with experience to that question. My answer to the question might seem to be semantics. This is one instance where I think semantics are very important and will save you money and heartache.
As a business, the laundromat industry is competitive, demanding, and requires all of the basic business fundamentals that any other business requires. You will still need to hire and train employees. You will have to do accounting, maintain your equipment, stock supplies and inventory, market your business, and more. From my experience and observations, the owners who enter the business with a set it and forget it mentality usually watch their business slowly decline in condition and profitability. They end up wanting to sell it to get rid of their headache when it is worthless and dilapidated.
So, in order to make your laundromat work as a sustainable business, it will require some elbow grease and some business know-how. That’s the bad news if you were looking for an easy way to consistent cash flow with good returns.
The good news is that Laundromat Resource is committed to showing you ways to run your business close to the passive end of the spectrum by developing systems, using best business practices, and learning from each others’ mistakes. We also provide management services to make your investment nearly passive.
Now that I have crushed your easy cash flow bubble and hopefully convinced you that laundromat ownership is a business that can provide good cash flow, let me bring some of you back around.
0 Comments