Is coin laundry a good business to start?

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  • 8 months ago
    Best answer

    Can be. But location location location. You need to do proper market analysis to find a location where there will be regular customers to use your laundry service.

    Near a large university, for example, where the students would have laundry needs but live in apartments or dorms that have no coin machines.

    Chances are that someone has already set up a coin business so it would be your competition. But you can learn from it by seeing if there are enough machines to handle the demand.

    If the customers backlog and have to wait long minutes to get a machine, you might want to put your place close by and those who would stand in line can come to your place instead. On the other hand, if half the machines are empty and not working most of the time you wouldn't want your place close by at all.

    Low rent tenements are also good prospects as many if not most of those residents would not own their own machines. Another possibility is around vacation rentals where the renting residents would need to do laundry mid-vacation for example.

    If you are truly interested I recommend you find a successful laundry machine place and take notes on what makes it successful. Find out what the customers look for and use...and what they don't use too.

    And work out the service rate: how many machines are needed to service how many customers per hour for example. You'll need that to figure out how many you'll need to start your business.

    • oldprof
      Lv 7
      8 months agoReport

      Thanks. But I failed to mention the security issue. Coin laundries are often vandalized; so you'll also need to consider security as a necessary additional cost of operation. That'll include insurance, video cameras, and maybe a guard/manager.

  • Anonymous
    8 months ago

    Poor people don't mind being smelly and everyone else has a washer and dryer.

    The only time I use a coin op laundry is when I'm washing something i don't want to put in my own washer.

  • Huh?
    Lv 7
    8 months ago

    Coin laundries require a fairly large capital investment in equipment and must be in an appropriate location. A coin laundry in an affluent area where most residents have their own washer and dryer, wouldn't make sense, so choosing a location is important.

  • 8 months ago

    Yes, after the suggested analysis given above. Like convenience stores, in the right conditions, they can stay in business for a long, long time.

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  • 8 months ago

    Only if there are a lot of apartments in the area. Homes generally have their own washer and dryers.

  • nt
    Lv 6
    8 months ago

    For someone with no experience & limited funds? NO WAY.

  • 8 months ago

    Coin laundry?

    What are you chinese??😂😂

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