The Pros & Cons of Owning Laundromats

Laundromats are a great part-time business as they can be very profitable with very little labor or attention. HK Laundry's Karl Hinrichs, a laundry veteran with over 30 years experience in the laundromat industry, discusses the advantages and disadvantages of owning a laundromat. Laundromats provide a steady reliable revenue stream, and are a recession proof business. On the other hand, laundromats are capital intensive, and consume a large amount of utilities. Watch this video to learn more about the pros and cons of owning a laundromat.
For more information, please visit HK Laundry Equipment online: www.hklaundry.com/

[@MmmmYah]

Example costs for prospective owners in your region would have been helpful (they can be extrapolated to other regions): 1) What's the typical cost of a washer (regular vs large) 2) What's the typical cost of a dryer? 3) what is a good bargain laundromat to buy i.e. price to net income/cash flow ratio? 4) What are some ways to increase business 5) How much does a plumber cost? 6) how often does a machine breakdown (one machine in ten every month or more?)? 7) what's the best brand of machine - huebsch, wastco, coinmach, other? 8) How often should a machine be typically replaced or what's average life? 10) How much do utilities run for an example ten machine setup 11) How much does a maintenance contract with the washer/dryer company cost versus plumber? 12) Some laundry equipment companies offer a profit sharing model instead - does that make any sense? 13) Is it more profitable to own versus lease - both property and machines - pros/cons 14) 5) What are some other options prospective owners can look into to increase revenue (e.g. vending machines, video games, fold n deliver, dry cleaning, seamstress services, etc) at the same location and what are their respective pros/cons?

[@jgc1077]

Thanks, Mayor Bloomberg!

[@carlmeg6265]

Thanks for the info Karl. Im looking into getting to the laundrymat business. Trying to research everything I can about the business. It helps that I have a brother that owns 3 of them.

[@martinmullican]

The Laundromat business model is described at the 30,000-foot-level in a clear, concise way - pro and con. “Cons” are more business operation observations while the “Pros” are true business model attributes.
A high-quality video - especially the high-quality audio (clear, crisp, little competing background noise).

[@tienluu9725]

Thanks for the informative video!! I want to start a business, but I don't know what yet. So I've been doing some research. :)