Is buying a laundromat a good investment?
Here is some basic information about self-service laundries:
Self-service laundries are a growing industry. According to industry statistics, there are over 35,000 coin and card-operated laundries in the United States, generating more than $3 billion dollars in annual revenue. For more information, check out www.coinlaundry.org.
Laundries perform especially well in densely populated and lower to middle-income areas. However, middle-class areas are also proving to be a strong market. The primary customer base includes people who live in rental housing, college towns, and immigrant-dominated markets.
Coin laundries also appeal to a broader array of customers because of their convenience, time and cost savings, and a full range of services not found in the home or most apartment dwellings.
Business is strong during recessions regardless of a slow-growth or a no-growth economy. The self-service laundry market is a recession-proof industry because people will always need to wash clothing. Even during economic downturns, the outlook for the coin laundry business is positive.
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