The laundromat industry is thriving today and is projected to continue to grow in the coming years. Self-serve laundromats are far from dying. However, the service side of the business is growing at an increasingly rapid pace through the addition of drop-off laundry services and laundry pick-up-and-delivery services.
Let's talk about how laundromats are expected to grow, the growth opportunities, and tips to grow your laundromat.
1. Laundromats are projected to continue to grow
Grand View Research did a study that shows that the laundromat market is $14.6 billion annually. That number is projected to grow at 9.4% per year until 2027. That's significant growth for an established industry that is almost entirely owned and operated by mom & pop operators. And the projections of growth are in both residential and commercial laundry.
2. New Laundromat Business Growth Opportunities
Although self-service laundromats are projected to continue to grow, there are opportunities to utilize those same assets, the commercial washing machines and dryers, to incorporate a service side of your laundromat business.
Companies like Cents, who provide a business-in-a-box solution for owners, make it easy to provide a high level of service to any owner, no matter what their business model. Cents has solutions for self-service laundromat owners up to full-service laundry drop-off and laundry pick-up and delivery businesses. And Cents grows with your business. So as your business grows and evolves, Cents can support you every step of the way.
3. Tips to Grow Your Laundromat
With no end to the laundromat business in sight, here are some tips to grow your own laundromat so you can get your piece of the pie.
First, provide amazing value for your laundromat customers. Second, price your machines appropriately. Third, reinvest in your business. Fourth, up your level of laundromat customer service by utilizing a business management system like Cents. Cents will allow you and your employees to provide a professional experience for your customers. It will also make managing your business easier and less time-intensive.
Book a free demo to see how it can help you run your laundry business better.