If you’re a laundromat owner or operator you likely know that your revenue doesn’t just come from people doing their laundry. There are multiple different revenue streams in a laundromat and a savvy business owner will tap into these streams to maximize ROI and have a successful, lucrative business. With laundromat businesses averaging between 20-35% ROI, it’s important to find ways to increase your bottom line. In addition to laundry revenue, we’ve broken down the best other sources of income in laundromats below.
Food and beverage vending machines
Doing laundry is often considered a chore or errand and people who are on the go love convenience. Regardless of if your laundromat is designed for people to come in and out or if it is designed with chairs and tables for people to wait and then to fold their laundry when it’s done, vending machines are a great way to bring in extra money. Food and drink vending machines are easy to manage and are a secure way to bring additional revenue without needing an attendant. Profit from these machines vary based on location and volume but can be a game changer in adding valuable revenue to your business.
Vending machines with laundry items
Not all vending machines are designed just for food and drink but there are also vending machines that can sell products. At laundromats, vending machines that sell dryer sheets, detergent, fabric softener, and other items used in laundry are a great added amenity that customers will love. Not only do you make money from customers who forgot these necessary items at home, but they may come to rely on this convenience and purchase them from your establishment every time.
Services for customers
Depending on your volume, you may want to consider providing services like pickup and delivery, especially if you’re in an urban market. High volume stores really benefit from having this option as you may be able to reach more people simply by offering a service that they need in a way that’s convenient for them. In addition to pickup and delivery, you may also consider adding folding services or drop-off services.
If your laundromat is designed for customers to wait for laundry to be done, you may want to add a few entertainment options to keep them busy. In addition to free Wifi and television, arcade games are a great benefit that can also help you diversify your revenue. By encouraging people to stay at your store for a while and offering options for them to stay entertained, you may be surprised to see how this additional revenue stream boosts your sales.
Use ESD® equipment to help maximize profit
At ESD® we are proud to be experts in creating high-quality and efficient products and we pride ourselves in offering solutions that make your business run seamlessly. With fully engineered and manufactured products in-house, we are meticulous about testing every product before it hits the market and have created systems like a mobile app and customizable SmartCards that make your job easier and more profitable. If you are looking to add an advanced payment system to your business or are curious about how ESD® can help you run your laundromat with ease, give us a call today at 800-523-1510!