If you're looking for a low-risk business, consider starting a Laundromat. Studies show that 66 percent of people don't start a business due to fear of failure, but about 95 percent of Laundromat businesses succeed within 5 years. It is an automated business. The machines handle the washing and drying, and customers do the rest. You just sit and collect money from the machines.
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Laundromat Business
- Thread starter Kane
- Start date
Laundromat's sounds like very profitable businesses, but you really need to be in a heavily populated area to make good money. Most laundromat's near me, I doubt make the money for their owners to live. But if you are in a big city, or location, then you have a potential for making a lot of money.
I don't know how profitable laundromats usually are otherwise. I can't imagine them drawing in tons of money, but maybe I'm wrong.
I don't know how profitable laundromats usually are otherwise. I can't imagine them drawing in tons of money, but maybe I'm wrong.
If there is a lot of competition and if there is no demand, there is no business that can generate profits. However, if there is a demand and less competition you can make money. In order to make profits from this business, your business of course need to be in populared area and there should be less competition.
A Laundromat business is what we call dry cleaning services. It's a business of washing and ironing other's clothes. It's a profitable business because there are many people in the line of business in my state. It's only the ironing that's the difficult part of the business, but the rest is very easy.
I have actually seen a lot of people who are currently in this line of business and I believe that it is something profitable for them to be invested in this particular business. Unfortunately, I am not sure if it is something that I am going to do personally but if there is a possibility of starting a business for someone to manage for me, it is something that I can actually consider doing.
Good-Person
Captain Junkie
Such kind of businesses are very popular in developed countries. Landromats are not that common in here. However, there are many alternative businesses that are very similar to landromats and they are quite popular in here. For example, here we have many online businesses that may wash clothes for you. You have to place an order and pay them for that. You can say that they are laundries, not landromats.
People making a laundromat business for you can work as long as they are people that you can trust to get things done. I have seen some people complain that those that they asked to look after their businesses ended up squandering money. So, if you have the capital to start the laundromat business, why not consider being there always?
Yeah, that's very correct. When it comes to getting those who are going to work for you in any business that you own, it's very important to make sure that you evaluate them very well to know they can be reliable and trustworthy. If they cannot, it's not going to be a good decision to hire them.
Good-Person
Captain Junkie
Unfortunately, businesses such as laundromat have now lost their popularity. Perhaps this is due to inflation and high charges of laundromats. We do not have laundromats. However, we have alternatives to such kind of businesses. We have washermen.
Over here in my country I don't really think that the business have lost its popularity. This is because I can tell you that there are still so many people who are starting the business. Over here in my estate, someone just recently started the business and he is getting a lot of customers who are bringing clothes for him to dry clean for them.
Good-Person
Captain Junkie
The popularity of the business depends a lot on the supply and demand of any kind of product or the service. However, there are many other factors that may play a role as well. As far as laundromat business is concerned, its supply and demand also matters a lot.
Everything about any business is affected by the law of supply and demand. It's not just specific to a laundromat business. The most important thing about being into a laundromat business is for you to set up the business close to residential homes. This will definitely bring in more businesses for you.
Good-Person
Captain Junkie
Even though laundromats are not that much popular in here, there are many similar kind of services that tend to be popular here. Many companies have started online laundries and this involves giving away your clothes so that they could be washed. I think this kind of service is also quite popular in countries where laundromats are popular.
One thing that is very common about any kind of business including a laundromat business is that you have to find the right place to setup the business. This is where you will have more chances of getting those that are going to be interested in patronizing your business services. The moment you have this perfect spot, you will definitely be making a lot of sales.
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