Laundromats offer local business opportunities in towns and cities of every size. It’s a relatively easy industry to enter; owners don’t need extensive training or college degrees. While many kinds of businesses have come and gone in recent decades, everyone still has laundry to wash. This industry also continues to evolve in ways that provide greater comfort and convenience to customers. There are three major benefits to owning a laundromat:

1. Automation

Unlike most businesses, coin-operated laundries can be largely automated. This allows owners to spend some of their time performing other jobs or running separate companies. In addition to washers and dryers, various vending equipment serves customers without frequent human intervention. It includes soap, food, soda, juice, arcade and pinball machines. Vending company employees can refill some of these units. Owners of profitable laundromats may also pay appliance repair professionals to maintain their equipment. Some proprietors benefit from automation because they have time to make extra money by providing additional services to laundry customers. Examples include preparing food in a laundromat snack bar or washing, drying and delivering clothes for an extra fee.

2. Stable Income

Many industries depend on specific seasons or types of weather. On the other hand, most coin-operated laundries remain popular throughout the year. They provide a basic service that people continue to use during recessions. Although some customers cut costs by drying their clothes on racks or clotheslines during sunny weather, IBISWorld reports that washing machines normally generate a larger portion of laundromat income. Revenue may vary by season in a few places, such as tourist destinations and college towns. Nonetheless, laundromats provide far more predictable earnings than other small businesses like campgrounds, restaurants or gift shops. Laundry pickup and delivery services make them even more stable by attracting a mix of wealthy and low-wage customers. This helps these establishments remain prosperous in economic downturns as well as more prosperous times.

3. Often Lucrative

A coin-operated laundry business can produce considerable income if the owner maintains it well and doesn’t have too many nearby competitors. Well-run laundromats tend to achieve profit margins of around 35 percent, according to Entrepreneur magazine. Net earnings often range from about $10,000 to $350,000 in profitable establishments. Automation makes it possible for some people to own and operate several locations without hiring numerous employees. Since many customers spend substantial amounts of time at laundromats, owners can often gain significant revenues from snack and beverage sales. This is a more versatile business than many people realize. It’s also feasible for attendants to sell a range of related items, such as laundry baskets, lint rollers and used clothing.

The bottom line is that laundromats steadily yield low to moderate revenues with comparatively minimal labor needs. When the equipment is working properly, many owners only need to clean floors, collect coins and refill soap machines on a regular basis. Although the coin-operated laundry industry may seem old-fashioned, it continues to serve a vital need and deliver greater convenience with the help of modern technology.