Retire Into the Self Laundry Business

More folks are retiring earlier for a variety of reasons, either by choice or motivated by the ever-more-common "Golden Handshake" retirement incentives. Because of their relative youth they end up stuck in the middle; too young to stop working completely, but advanced enough in age to not be looking for another serious career.

If this sounds like you, think about putting your "nest egg" up to start a coin operated laundry. This can be a very profitable opportunity to explore for a person who wants to stay somewhat retired. No attendants are present in the majority of self-service laundry facilities. Because they need no inventory or receivables, laundries are a perfect small business.

As of the 2000 US census, about 86 million people were renters. That’s almost a third of the population. Many have laundry facilities which are either inadequate or non-existent. Even homeowners sometimes don't have washing or drying facilities of their own, requiring the use of a self service laundry. When the overall economy is down, more homeowners will find themselves unable to fix or replace broken appliances. But you can't cut corners on clean clothes, much like food or a roof over your head. Potential customers for your business include all of those who don't own their own washer and dryer.

Your main sources of income will be from washing and drying. Laundry detergent, bleach, fabric softener, and dryer sheets can be sold in the facility offering you additional ways to earn income. A steady cash flow occurs when you install vending machines for sodas, chips, and other snacks.

Choosing a proper location is just one of many points to think about when planning a new coin operated laundry business. The ideal place to locate a laundry business is in a densely populated, urban area where a high percentage of those living in the area rent their housing.

Both the brand name and reliability of the appliances should be taken into account. Big name companies like Whirlpool and Maytag can provide you with energy-efficient commercial-grade machines certified with the Energy Star rating. This keeps more money in your pocket and even helps the environment.

You must make a vital choice, whether to buy your own equipment and be stuck with the usual maintenance issues or contact a company that will do the upkeep for you. The advantage of contracting with an existing company to supply your appliances is simple; they ensure your main sources of income are always working at their best under the strain of a busy self service laundry.

Correct maintenance techniques include regularly cleaning dryer vents and exhaust hoses to keep them working at top efficiency. Staying on top of maintenance keeps your machines running at full power and extends their life span, maximizing your revenue.

If you decide to use a laundry service company, make sure their equipment uses revenue-saving loss prevention features like non-resetable coin counters. Your contracted company should be ready to provide service calls at a moment's notice. A company with good credentials should be able to give you plenty of evidence from other satisfied customers to confirm their reputation.

Whichever method you choose to own and maintain the equipment, the self service coin operated laundry business can be the part time job and full time income you need for the retirement you deserve.