Coin Laundry The Next Big Business in Australia
Coin Laundry: The Next Big Business in Australia!
There are few businesses that have managed to not only stand their ground, but also thrive during the pandemic. Self-service laundries are among these. Coin laundries, as they are also known, are a proven business model in Australia. Estimates by IBIS World peg the revenue of this industry at $2 billion annually. Despite the Covid-19 impact, this industry is geared for good growth in the years to come, partly due to the economic recovery and partly due to the increased demands from the health and hospitality sectors. It is no wonder then that there are so many entrepreneurs looking to invest in a coin laundry business for sale!
But there are more reasons that contribute towards making this an extremely exciting business, and here are the top ones:
1. Simple to Start
This business is relatively easier to start with as compared to other types, as the only capital investment that would be required apart from the retail location, would be the setup of Laundromats. You could practically get started with the business immediately after setting up. Our business brokers can guide you on how you can select the best equipment, and might even be able to help you score a deal or two here, from an existing coin laundry business for sale.
2. Easy to Manage
Once you have the right equipment, you are mostly set. Running a self-service laundry doesn’t require any specially trained staff on site. This makes it a whole lot easier to manage, as you would be saving on multiple costs. The day to day management here would be simple, and would primarily entail servicing the equipment regularly and keeping it in top shape. It is also possible to run this business independently, with minimal supervision.
3. Fast ROI
With a relatively low cost of investment, the coin laundry setup could start giving you very quick returns. You could practically start earning from the very next hour post setup, provided you have people who are already lining up to use the machines. It is a known fact that the breakeven point for such businesses can come as soon as within a year, and this itself, is a testimony for its speedy ROI, which could range between 20-35% annually.
Operating a coin laundry is no biggie, and once you get one it right once, you could replicate the same in any other location, and a third, and a fourth. This makes it extremely scalable and efficient from a business standpoint. The recession proof nature of this business gives it a high survival rate of over 85-90%, making it all the more attractive for those looking to be a part.
5. Steady for Long
Washing clothes will never be out of style, and neither will the concept of a self-service laundry! Be it economic downturns or pandemics, a business like this is sure to survive anything. Moreover, a coin laundry business is such that you could easily look at doing a lot more with your time even as you run the business. What’s more, once the business is established, you could also pass it on to your future generations.
At Absolute Business Brokers, we always have some great listings when it comes to coin laundry businesses for sale, in and around Australia. Not only can we get you the best deals, but we can also guide you through every step of the way when it comes to this industry.