Your future Speed Queen laundromat will have a limited field of operations in its neighborhood—up to 10 minutes walk from downtown or the city center. On the outskirts, the field of operations can be summed up as 5 minutes by car, provided there is a nearby car park to park in. Location is therefore the main success factor in this type of investment. But that’s not all: here are the key steps to a successful laundromat.
What are the success factors of a laundromat?
To become profitable, a laundromat needs traffic: it must attract a substantial clientele. Location is the primary driver of growth—your premises must be located in a busy area with plenty of footfall, with other stores nearby.
However it is also essential that, once visible, your laundromat meets customer expectations. To this end, Speed Queen offers a modern, welcoming concept which positions your laundromat at the core of the facilities in your area, thanks to its top quality equipment designed to provide an efficient wash and fast dry without damaging your customers’ laundry.
Other success factors: the complementary services that you offer, as well as the premises themselves, which should be comfortable and visually attractive. Your overall success will depend on the customers’ experience.
Would you like to invest in a laundromat?
What is the ideal location?
Finding the ideal location isn’t easy, but it is crucial to pick a highly visible site (e.g. a large store front) with plenty of footfall, easy access (near a parking lot for example), in an area of high population density. Peaks of activity at a laundromat tend to be in the evenings and in particular, at the weekend: this should be kept in mind in your business model (Speed Queen Investor teams will support you in developing a solid plan). Here are a few promising locations:
1. Shopping streets
A shopping street lets you attract numerous customers. Neighborhood life is organized around stores and boutiques, including your premises. In large cities, preferably choose neighborhoods where homes are on the small side: the lower the average size of apartments, the less room there is for domestic washing machines and the more customers you have.
2. Apartment buildings
Setting up a laundromat in a large apartment block may be a good idea. However, we encourage you to contact the Speed Queen teams to check the true business and sales potential of any apartment blocks you are considering.
Malls often bring ‘neighborhood’ life to a more industrialized urban environment that has fewer stores than downtown.
4. University campus
Students make up a large part of your client base. It might be a good idea to open a laundromat within a student area.
DISCLAIMER: The above information is purely theoretical in nature and does not constitute a guarantee. Only the expertise of Speed Queen can help you to develop a profitable business.