The new year brings a wave of change that has people considering their health, their finances and most importantly their goals for the year. If 2017 has you considering diversifying your business investments, the folks at T & L Laundry Equipment have come up with a list of reasons you should be considering adding a coin-op laundromat to your business portfolio.
For those of you who are new to the vended laundry industry, T & L has been proudly serving Charlotte and Raleigh for over 40 years. Our experienced and dedicated staff are knowledgeable beyond our extensive product lines and believe that service after the sale is key to success. Haven't considered the vended laundry industry before? No worries! Read on and then give the folks at T & L a call and see how we can help you make your goals a reality in 2017. From financing to coin operated washers and dryers in North Carolina - we do it all!
The Best Investments For 2017
One of the most attractive features of owning a laundromat is its high rate of success. Studies show that vended laundry businesses are 94.5 percent successful. This success rate coupled with an almost 35 percent return on investment has laundromat owners everywhere smiling.
Laundromats are a great option for people who are looking for a source of passive income. Most laundromat owners estimate that they spend 10 to 15 hours a week actually working on their business. This includes things like marketing and addressing issues around the property - like maintenance and customer service issues. The coin-op business is completely adaptable to your lifestyle - you can work when you want. Almost one third of laundromat investors or owners consider their business a part-time job.
Additionally, there are some significant tax benefits to owning an equipment based business. Year after year laundromat owners enjoy the ability to write off the depreciation of their machines. This creates significant opportunities for you to retain revenue in your business. Many new owners figure this into their initial investment return when they choose to buy new, energy efficient machines from top rated brands like Speed Queen and Dexter. T & L Laundry equipment also offers large capacity water heaters, bill changers, folding tables and laundry carts. All of the equipment used to run the day to day business of a coin-op laundry is eligible for tax benefits.
It is also important to note that the vended laundry business can be an all-cash business. Your customers will be paying upfront. This eliminates the time and costs that most businesses spend on accounting. Adding additional services to your business - like wash, dry, fold and corporate laundry services - can only increase your bottom line. Studies have shown that the vended laundry business is recession proof and that a whopping 90 percent of laundromat customers become repeat customers within 3 months of their initial visit. Even more great news for your bottom line!
Staffing your laundromat with high-quality, service minded individuals ensures that your labor costs stay low. After all, your machines and your customers do the majority of the work for you. Without the need for a large staff, that means more money in your pocket. It is estimated that the average coin-op is operated with fewer than four total employees. Choosing quality employees and giving them the right skills and training also allows you an even greater amount of flexibility within your business.
Ready to learn more about owning your own vended laundry business? Let the professionals at T & L Laundry Equipment answer your questions and help you begin your journey towards coin-op ownership. Keep reading to learn more.
Searching For Coin operated washers and dryers in North Carolina?
Are you ready to start shopping for new equipment? We have top load and front load coin operated washers, single load dryers, stack dryers, and stack washer/dryer combos. We can find something to work in your laundry room that will benefit your tenants, save you money and make it profitable to have coin operated washers and dryers in North Carolina. Call T & L Equipment today so we can help you make a purchase. We have been in business for 40 years, so we are the experts when it comes to commercial laundry equipment.
