Did you know that more than 80% of your laundromat patrons will live within a mile of your laundry business? If you’re looking to invest in the laundry industry, we can’t stress the importance of picking the right laundromat location enough. Determining a spot for your new laundromat business is not a decision you should take lightly.
Demographics
The demographics surrounding a potential laundromat location are a key indicator of whether or not your business will be successful. If the majority of your laundromat customers are going to be living within a mile of your laundry facility, then it only stands to reason that the people living nearby will be the ones using it. Take stock of who’s living in and around the area. Industry research has shown that the people who use laundromats most frequently are:
- Renters
- Students
- Low to medium income level
- Part of large households/families
Consider population growth trends in the area, new construction projects that may bring people to town, and up-and-coming neighborhoods as well. Understanding the demographics surrounding a potential laundromat location can help determine if a coin laundry business would be a good fit and help guide your overall strategy.
Neighbors
Nothing says community like neighbors helping neighbors. When looking at potential laundromat locations, you’ll want to take a good hard look at other businesses in the area. The surrounding businesses can help drive foot traffic to your laundromat or even be potential business partners down the line. Researching local businesses can also help you determine untapped opportunities in the area, and help you avoid potential conflicts with competitors.
The following “need driven” businesses have been proven to make good neighbors for laundromats:
- Grocery stores
- Convenience stores,
- Gas stations
- Dollar stores
As you’re getting to know the area, don’t forget research any potential or soon-to-be neighbors that may impact your laundromat’s success down the line. Franchise locations and city building plans are often rumored or announced months in advance of construction. Special events that happen nearby, like annual parades and festivals, can also have a short-term impact on your laundromat.
Size/Shape of the Building
While the location may be perfect, the building itself has to be right too. The size, shape, and overall building specifications will determine everything about the day-to-day operations of your laundromat. You want to be sure the building will be an easy-to-use space for you and your patrons. The average size of a laundromat is about 3,600 sq. ft., but they statistically run between 1,500 and 6,000 sq. ft.
Whether you’re building a new facility or revamping an existing structure, there are some major things to consider:
- Is it big enough to fit the number of commercial washers and dryers you need?
- Will the existing water and electric hookups work for your commercial laundry equipment?
- Is there adequate parking for your patrons?
- Would the location work to grow and expand in the future?
Kickstart Your Laundromat with OEM Laundry Parts
If you’re ready to take the plunge into the lucrative and exciting laundry industry, we’re here to help. Our team of laundry experts has been providing industry advice and reliable laundry equipment to hundreds of coin laundries around Florida and southern Georgia. We can help you find the perfect location and stock it with high-quality commercial laundry equipment from top brands like Tolon and Speed Queen.
Learn more about how we serve coin laundries or contact us to discuss your laundry needs!
Happy laundromat location hunting!