How much can you make owning a laundromat?

Laundromats generate about $5 billion in combined nationwide gross annual revenue. Coin laundries can range in market value from $50,000 to more than $1 million. Coin laundries generate cash flow between $15,000 and $300,000 per year.

Is owning a laundromat a good investment?

Laundromats in the U.S. see an average cash-on-cash ROI of 20-35% (9)—much higher than most alternative investments. And when you factor the flexibility and low labor costs, laundromats just make sense. All the benefits of a profitable investment––without all the risks.

Can you get rich owning a laundromat?

Laundromats can be extremely profitable. With low expenses and reoccurring revenue, laundromats can be an excellent way to build passive income. Your most expensive costs as a laundromat owner is your rent or building costs and utility expenses.

Are laundromats a dying business?

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.

Why do laundromats fail?

The Main Reasons Laundromats Will Fail

If it is located in an area where no one needs the service, or if it is in an area that is considered dangerous, it is not going to do well no matter what the owner tries. A laundromat needs to be in area with people nearby who will use it.