Having a vending machine or two at your laundromat is a great way to add profits and improve your service to customers. Think about how many people come in during mealtimes to wash and dry their clothing. Even more, people often bring their children with them, as well. Everyone could use a snack and something to drink while they're waiting. You might be wondering if owning or leasing these vending machines would be the best bet for your business. While the answer may lie within your budget and how much you're willing to spend, we have a few tips that can help you make the best decision.
Startup costs are probably the biggest worry for laundromat owners. It can be quite expensive to buy vending machines outright. If you do not have the finances to invest in this type of addition, leasing could be your best option. However, you will be limited when it comes to product selection and also profit margins. Because the company you lease from will choose set prices for snacks and drinks you won't be able to have much of a markup. You'll also be limited in what types of products you sell.
If you're more interested in purchasing the machines outright despite your budget, there are ways to finance. There are also programs from companies like PayPal that offer a buy now pay later plan with 0% interest as long as you pay within six months.
Those who chose to own their own machines will also risk the chance that the machines will need to be repaired from time to time. There will also be maintenance steps needed to ensure they are working properly at all times. When you own your own machine you will be responsible for the cost of repair and maintenance. If you are leasing, the company will be responsible for these charges.
Honestly, deciding whether or not owning these machines is best for your company is a matter of taking a look at your finances and deciding whether or not it's possible.
There are advantages and disadvantages to owning and leasing. To learn more about each of these pros and cons be sure to visit with our previous blog post. We go over the ins and outs of each advantage and disadvantage. We hope this will help you make the best decision for your laundromat.
Ready to buy new laundry equipment? Do you have an interest in opening a new laundromat location? If you're interested in learning more contact T & L today.
Need help planning or designing your new laundromat? Looking for the best laundry equipment on the market? Stop wasting time looking for Wascomat dealers in Charlotte, NC! Trust T & L instead. We're the top Speed Queen and Continental dealers in the state. We also have engineers on staff that are familiar with the designs and needs of laundromats. In addition, we have architects that have extensive design experience, plus we offer attention to detail in the planning of your business.
When you combine this with our location finding assistance and evaluation of demographics for the area, you’ll find that we go above and beyond to help you open your business as smoothly as possible. Even more, we strive to analyze the competition, including their equipment and location. Our goal is to make your business successful. For more information or to ask any questions, contact T & L today.
