Owning a laundry business can be a great way to make money as there will always be a need for people to wash and dry their clothes. There may also be a demand to wash and dry blankets, comforters and anything else that might get dirty. Let’s take a look at some ways in which you can capitalize on this need.
Calculate Your Profit Per Machine
To make the best use of your property, make sure that you know how much profit you gain from each washer and dryer that you install. For instance, if you determine that you make $100 a day per unit, you can justify purchasing several commercial washing machines as well as more than one commercial dryer.
Knowing how much each washer and dryer costs can be helpful at tax time. It might be possible to deduct the purchase price as a business expense that reduces your taxable income. It might also be possible to depreciate an asset if it is used for business purposes. That can further help to reduce your business tax burden and keep more money available to reinvest in the company.
Make Your Machines Accessible
Be sure that you have room for customers to walk around or otherwise access each unit before you decide how many to put in a given space. When you buy a washer or dryer for laundry business, measure it to see how well it fits in your building or laundry room. In some cases, it may be necessary to purchase a washer and dryer that stack on top of each other to overcome any space limitations you may have.
What Types of Machines Will You Buy?
No two washing machines are alike when it comes to how much laundry they can hold, how much water they use and how long it takes to complete a cycle. The same is generally true for dryers as well. For instance, the LG Giant C Platinum is one of the best dryers on the market because it can hold a large volume of clothing and works in an efficient manner.
This allows you to keep electrical costs down while ensuring that additional loads can be done each day, which increases revenue. When shopping for laundry equipment, read reviews from former customers to learn more about any maintenance issues that it may have had. The less likely a machine is to need repairs, the less likely it is to cost to operate overall.
Consider Related Commercial Laundry Business Ideas
In addition to offering customers the ability to wash and dry their clothes, you could offer snacks, drinks or other items for purchase. Those who have just come home from work may be in the mood for a soda or a candy bar while their laundry is being washed or dried. They may also be willing to purchase gift cards good toward future trips to your commercial laundry site. These ideas can generate revenue for the business while also making each trip more convenient for customers. Therefore, they are more likely to come back on a regular basis.
Operating a laundry service can help meet a person’s needs while also helping to generate income from an unused or underused space. Assuming that you know your costs and profit margins, there is no reason why you can’t be successful in a relatively short period of time.