Top Tips for Laundromat Buyers & Owners: Practical Insights from Industry Experts

Thinking about buying a laundromat, or already own one and want to stay ahead of the curve? In a recent episode of the Laundromat Resource Podcast, industry veterans Andrew Cunningham and Jordan Berry dove deep into the critical strategies and trends shaping the laundromat business right now. Below, we’ve distilled the main takeaways into actionable tips—so whether you’re searching for your first store or looking to grow your current operation, you can hit the ground running.

1. Act Fast When You Find the Right Opportunity

Takeaway: Great laundromats are extremely competitive in today’s market, often selling at higher multiples and not staying on the market long.

How to Apply:
If you find a good laundromat, “tie it up” quickly—make an offer subject to due diligence like lease review, equipment inspections, utility verification, and financing. Don’t wait for a “better deal” that might not come. If you hesitate, someone else will buy it, and you may look back in six months wishing you’d made the move. Work with a knowledgeable broker who can help you move decisively without skipping important steps.

2. Be Prepared to Pay More (and Know Why That’s Okay)

Takeaway: Multiples are rising—deals at 5x–6x net income are the new normal, compared to the “mythical” 3x–4x of the past.

How to Apply:
Adjust your expectations. Focus on overall ROI and the growth potential of the location, not just the initial purchase price. Look for ways you can add value—like updating equipment, improving operations, or implementing new services—even if you pay a premium. Remember, the opportunity cost of missing a deal often outweighs the price difference.

3. Future-Proof with Wash, Dry, Fold & Pickup/Delivery

Takeaway: Service businesses like wash, dry, fold and pickup/delivery are becoming essential for profitability—sometimes even outpacing self-service.

How to Apply:
If your location allows, create space for a drop-off counter, order processing, and efficient storage. If retrofitting is impossible, consider partnering with or opening a wash/dry/fold facility in a nearby industrial space. Invest in staff training, reliable logistics, and robust marketing for these services. Adapting now puts you ahead of competitors who are slow to diversify.

4. Treat Repairs and Maintenance as Mission Critical

Takeaway: A lack of reliable service and repair technicians is one of the industry’s biggest bottlenecks. Too many owners lose revenue waiting for repairs.

How to Apply:
Develop relationships with trustworthy technicians and keep their contact info at hand. Consider joining forces with other laundromat owners to share resources or even sponsoring technician training. If you’re hands-on, develop basic repair skills. For larger operators, having in-house maintenance staff can be a game-changer for uptime and customer satisfaction.

5. Upgrade to Card or Cashless Payment Systems

Takeaway: The days of coin-only laundromats are numbered. Card/cashless systems offer better revenue tracking, customer convenience, and even higher multiples when you sell.

How to Apply:
Investigate hybrid or full cashless systems for your store. Budget for installation, but also factor in the reduced labor/fraud risks and the marketing opportunities (think bonus credits, loyalty programs, and easy refunds). Don’t let traditionalism or fear hold you back—tech-enabled payment is what today’s and tomorrow’s customers expect.

6. Maximize Security, Automation, and Customer Satisfaction

Takeaway: Safety, operational efficiency, and convenience drive business. Security cameras, remote monitoring, and automation are now best practices.

How to Apply:
Install high-quality surveillance with cloud access and consider voice-down features (that let you speak to people in your store). Automated door locks can let you open/close without being on-site, saving time and reducing risk. These touches not only deter crime, but also reassure customers and can lower insurance rates.

7. Don’t Go It Alone—Leverage Experts and Community

Takeaway: Buying or running a laundromat is complex. Borrowing years of industry know-how can prevent costly mistakes.

How to Apply:
Invest in consulting or mentorship when you’re searching for or buying your laundromat. Experienced advisors like Andrew Cunningham and Jordan Berry can spot red flags you’ll miss and negotiate better terms. Join owner communities online, attend seminars, and keep learning to stay competitive.

8. Embrace Change—The Industry Is Evolving Fast

Takeaway: Utilities, rents, and wages are rising; customer preferences and technology are shifting rapidly. Success means staying agile and curious.

How to Apply:
Review your pricing, expenses, and technology stack regularly. Don’t wait for competitors to innovate—lead the change by upgrading machines, testing new services, and keeping your store modern and spotless. Stay connected to industry podcasts and events for future trends.

Final Thoughts

Whether you’re just starting your laundromat journey or looking to make your existing business more resilient, these practical strategies can save you time, money, and endless headaches. The laundromat industry is changing rapidly—but with the right approach, it’s still an incredible opportunity.

Ready to level up your laundromat business? Check out free resources, more podcasts, and connect with the experts at LaundromatResource.com.