Hi there,are coin operated laundry still profitable in the uk?

Question

Hi there,are coin operated laundry still profitable in the uk?

Answer 1

Depends widely on the condition of the store and the audience it caters to. Profit margins (which in this business go from 35% to -(minus)15%) have less to do with the size of the store than with its owner. An owner who runs his or her store well—who keeps it clean, repairs its equipment quickly, uses energy-efficient systems and offers good customer service—will see profit margins of about 35 percent. However, since most laundries in the UK are old, dirty and not maintained, most of them run at break-even.

The steady income that a laundry generates is a plus for many people. If you’re looking for a business that will keep the cash flowing no matter what the rest of the economy is doing, you’ve found it in laundries. Clean clothes are a necessity, not a luxury, so people are going to use laundromats no matter how the stock market is performing. The business is also fairly steady month in, month out. So unless you draw on vacationers’ dollars in a place with seasonal tourism, you’ll find that you can count on a fairly steady income throughout the year. The best consumers are those who have no intention or means of buying their own washing machines (i.e. tourists, students, council estates etc)

Hope this helps!

Answer 2

it all depends where it is situated. we own a narrow boat and any of the laundrettes that are in walking distance from the canal are always well used. i wouldnt like to say anywhere else though.

Answer 3

no not really theres 1 in my town and it got closed in the first year