Karl Hinrichs of HK Laundry Equipment with over 35 years of experience in the Laundromat industry talks about the Pros and Cons of owning Laundromats.
Laundromats are a great profitable, part-time business that only requires 1-2 hours a day in labor. HK laundry’s President, Karl Hinrichs, a laundry veteran with over 30 years experience in the laundry industry discusses the advantages of being a Laundromat business owner.
The advantages of owning Laundromats are that washing clothes is a basic necessity of life and therefore provides a very stable and reliable revenue stream. Laundromats require very little labor because the customers supply their own labor to wash their clothes and they pay in advance in cash. There are no checks in the mail and no account receivables. There is no huge inventory expense because the only inventory is a couple of cases of soap. There is also no spoilage and loss of inventory. Laundromats are a very "Clean" business.
The challenges of getting into the coin Laundromat business are the high initial cost (typically over $100,000) and finding the ideal Laundromat location. HK Laundry has been building successful Laundromats since 1967. Put our experience to work for you.