5. Once set up, I found that coin laundries paid off like a “cash machine” week in and week out. Let’s face it: people will always need to wash their clothes, which is why laundry centers thrive in periods of both growth and recession. In fact, when times are slow and homeownership decreases, self-service laundry market thrives as more people are unable to afford to repair, replace or purchase new washers and dryers, or as they move to apartment housing with poor or nonexistent laundry facilities.

6. Finally, I loved fact that I could purchase an existing coin laundry to fit my budget, available investment dollars and personal requirements. Coin laundries generally require between 1,500 and 5,000 square feet of retail space, depending on market size. Most laundries occupy retail space that is rented on a long-term lease of 10 years to 25 years, including option periods. The cost of buying a vended laundry can range from less than $50,000 to more than one million dollars, depending on size, age and net income.

Bottom line, Dan King is one of many successful entrepreneurs in our dynamic industry. In fact, there are over 35,000 coin- and card-operated laundries in United States, generating more than $3.5 billion in annual revenue and these numbers are growing! Millions of families use laundries every day. But most people don’t realize that those same laundries offer even better ways to “clean up” than with water, soap and bleach. With primary customer representing fastest growing segment in nation -- laundry business is amazingly stable, and dependably profitable. After all, families need clean towels and sheets whether stock market is up or down. They need clean clothes in summer and winter, on vacation or working, whether they’re newborns, teenagers or retired.

About author:

Ilene Fudim is a nationally recognized expert in coin operated laundry industry and a contributing editor to Laundry Center Marketwatch newsletter. She has been instrumental in helping launch many successful coin laundry businesses. For more information and a free copy of Laundry Center Marketwatch newsletter, visit site at: laundrycenter.info or call toll free 1-877-45-Laundry.