Information on Laundromat Franchises
Laundromat franchises generally require less hands-on daily maintenance to operate compared to other franchises. For example, fast-food restaurant franchises require continual interaction with consumers in order to be profitable. Therefore, if you are looking to operate a business with the least amount of maintenance and customer contact, a laundromat franchise may be worth looking into. But there are several types of laundromats to consider.
Types
There are three types of laundromat franchises. The first is a coin-operated establishment where customers insert coins into either a washer or dryer in order to use it for a limited time frame. Employees of the laundromat typically can come and go as they please and just check in periodically on the facility to make sure everything is running smoothly. Another type of laundromat is one that houses debit card-operated machines, where customers input their debit card to purchase services for a limited time frame. A commercial or corporate type of laundromat franchise has corporate accounts and on-staff employees for the most customer-centered interaction. Some facilities also incorporate a mix of coin-operated machines and drop-off service to serve a variety of clientele.
Coin-Operated Laundromats
Coin-operated machines are typically the least expensive to own and operate compared to their newer debit-card counterparts. They require more hands-on work for both the owner and customer. The customer must input the coins into each machine before use. The owner or his staff must empty the coin bins regularly in order to count the profits.
Enabling customers to complete their laundry in comfort can be a competitive edge. According to the Coin Association 2003 Survey, 80 percent of laundromat owners have some kind of vending machine in their facility. These vending machines may hold laundry supplies, snacks or cool drinks for customers to purchase, if desired.
Debit Card-Operated Laundromats
Debit Card-Operated Laundromats are convenient for both the owner and the customer. Smart-card washers and dryers are installed instead of the coin-operated variety. Since the cost is substantially higher for these units, limiting the quantity of units in the start-up phase may be a reasonable option.
Corporate Laundromats
Corporate or commercial laundromats are the most customer-oriented because they take drop-off and pick-up service, thereby catering to the special needs of all kinds of customers. They typically keep accounts for regular customers who depend of them for their cleaning service. Depending on your goals, this may or may not be the best franchise option for you. For example, if you are looking for an absentee franchise, either a coin-operated or debit card-operated business may be a better choice, as it requires less immediate maintenance and staff to run. If you are looking to cultivate long-term clientele in a particular neighborhood, a corporate or commercial laundromat is ideal.
Location
High-traffic areas are usually the best geographical places for laundromats. College students need to do their laundry conveniently, for example, so placing a facility near a university may be profitable. Also, consider shopping centers where there are lots of shoppers and well-lit buildings and parking. This will help customers feel safer if they choose to do their laundry in the evening.
Warning
If you are considering a coin- or debit card-operated franchise, equipment still must be maintained in order to keep customers coming back. The building should be also be regularly cleaned inside and out. The cost of water consumption as well as electricity usage are all part of the cost of doing business. Thorough research conducted well in advance of making your decision will serve you wisely.
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