Laundromat Resource › Forums › Laundromats › Small Town–Rural Laundromats–Anyone experience or have information ? › Reply To: Small Town–Rural Laundromats–Anyone experience or have information ?
I just purchased a building, laundromat included in a town of 2400. Previous owners boasted $40k revenue annual. It seems fairly accurate though I’ve only been averaging $100/day so far. As the arrangement currently stands this laundromat may be underperforming it building. If I had to pay a lease I may not break even. But the store has also been neglected and almost half of machines don’t operate.
It probably would not be wise to buy such a place but I’ve seen the place succeed in the past and I know there are a number of way the facilities can be improved and attract customers. One major way I project to increase business is through offering wdf. We have manufacturing that employees about 3000 people and I intend to tap into people’s desire to not have to visit their local laundry after they get home from work.
All that to say, mine is underperforming based on laundromat standards, underperforming based on sustaining a standard that would profit if it had to pay a lease, and underperforming its own historical performance. It is however over performing the return I was getting on the money invested.
I believe a laundromat can succeed in most any town but the circumstances required may be impossible to find. I’ve scouted laundromats in the two surrounding towns that have them as well. The towns are similar size, largest may be 3000 and those both look nicer than mine so I assume they are doing ok.