Laundromat Business vs. Wash-and-Fold Business: Which is Best?
If you’re considering a new business venture, you may be thinking about the laundry industry. After all, it’s an established industry, with opportunities for growth. According to a report published by Research And Markets, the global dry-cleaning and laundry services market is expected to be worth $180 billion by 2022.
Should you open a standard laundromat business or a trendy wash-and-fold business? Here is a breakdown of each so you can pick which is best for you.
A laundromat, or coin-operated laundry, is a staple in almost every community. They are popular among renters and people without washing machines, and they typically offer straight-forward wash services. The concept is simple: come here to do your laundry!
Pros and Cons of Owning a Laundromat Business.
There will always be a need for laundromats. No matter the condition of the economy, people will always need clean clothes. Customers depend on the services of a laundromat business if they don’t have the money or space for their own washing machines or dryers.
As the owner of a laundromat business, you don’t need to worry about having a large staff. The machines do all the work, so you mostly need to worry about maintenance.
The convenience of a laundromat is the biggest appeal to most of its customers. Often open 24/7 and completely self-service, many locals find comfort in a place to sit and take care of their laundry needs themselves.
Conversely, there are others who are actively looking to spend more money for more personalized services. Today’s busy parent, young professional, or college student often actively seek services which cost a little more but mean less work and time on their part.
This isn’t to say that the simple service of laundromats is not profitable. According to incfile.com, a typical coin-operated laundry will generate yearly revenues of between $15,000 and $300,000 depending on size, location, usage, and services.
Wash-and-fold businesses are taking the laundry industry by storm. Already a popular option for apartment dwellers in big cities, today’s customers also include busy suburban parents and young professionals. The concept is also simple: drop off your clothes, and they will be washed and folded for you!
Pros and Cons of Owning a Wash-and-Fold Business
More and more customers are leaning toward this trendy option as a way to take care of their clothes. But, this trend is becoming a staple. Customers prefer the ease and time saved with this type of business.
Tide Cleaners offers wash-and-fold laundry services (depending on location) to provide more care for its customers. This includes washing, drying and immediately folding customers’ pants, shorts, shirts, undergarments, socks, and sheets. This wash-and-fold laundry service includes all garments that don't need to be pressed.
Some Tide Cleaners locations may also offer home and office pickup and delivery. Tide will pick up and deliver finished garments at a designated space and time.
Offering these services, of course, means more time and employees. However, these services may mean a higher return on your investment. Customers are willing to spend more money for the convenience of wash-and-fold laundry services and delivery.
Which One is Right for You?
Don’t let the idea of additional services overwhelm you. Tide Cleaners will help you set up your dry cleaning and laundry business in your community.
Submit your contact information to learn more about operating a Tide Cleaners franchise.