How to Increase Your Laundromat’s Revenue

November 3, 2022

How to Make Money 24/7 With Your Laundromats

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How to Make Money 24/7 With Your Laundromats

Unconventional Acquisitions

November 3, 2022

We are obsessed with laundromats, and we’ll never quit screaming it from the rooftops. 

Try and stop us.

You may be wondering… Why are you hyper-fixated on cleaning other people’s dirty underwear?

Well, that part definitely doesn’t tickle our fancy, but what does is that this *very* blaaaah business is a recession-resistant cash-flowin’ cleaning machine with low risk, low start-up costs AND high rewards.

Aka the exact investment type we recommend you add to your portfolio.

If you’ve been here at Unconventional Acquisitions for a while, you’ve heard us ramble on about this boring small biz long enough that you may have already gone out and bought a laundromat.

Whether you completed our Laundromat Masterclass or fell into a deep dark TikTok ‘how to make passive income’ rabbit hole, you took the bull by its horns and did the deed. 

Go you. 

Now that you’ve closed the deal and acquired the biz, the real fun (and work) begins.

How to Increase Your Laundromat’s Revenue

It’s time to maximize your earnings to keep the passive money flowing while you’re fast asleep or doing whatever you decide to do instead of wasting away at a 9-5. 

Here are some things you can implement in your laundromat to increase your profits.

1. More Services = More Money.

Laundromats usually run at about 30% capacity, leaving a whopping 70% available for you to play with and figure out how to use in other ways.

Time to get creative. You gotta suss out how to put these extra machines to work and make you even more moula.

Let’s take our friend Mark, whose laundry delivery business is projected to bring in a cool $3M this year. 

Mhmmmmm, yes, we’re talking multiple 7 figures for doing other people’s laundry. So now you get why we’re so obsessed.

Mark’s machines work at 100% capacity, 24 hours a day, 7 days a week. They don’t stop, ever. They are quite literally money-making machines. 

He saw what was missing in the laundry game and decided to fill that gap by offering a laundry delivery service. Essentially the business picks up people’s laundry, cleans it, folds it, and then delivers it right back onto their doorstep. 

Simple enough.

This straightforward service is incredibly convienent, saves people hours, and puts cash straight into Mark’s pocket. 

Everyone is winning here. 

2. Add Technology to Streamline Processes.

Most of these laundromats are stuck in the dog’s age, which is something we love about them. So it’s the perfect opportunity to give things a little facelift and up the ante.

Start by upgrading processes by adding technology into the mix. 

When we think of laundromats, we usually think of quarters and dimes, but it’s time to enter the 21st century and offer mobile payments. 

Let’s be real. Ain’t nobody carrying around cash these days. I bet Gen Z hasn’t seen a penny in real life before. 

By offering a cashless option, you’re giving people convenient options. They’ll know your spot is the place on the block they can go to with only their dirty undies and credit card. 

If you want to take things to the next level, laundromat-specific apps are available for your customers to download. These apps allow them to pay on their phone and select the machine they want to use before leaving their homes. They’ll also be notified when their loads are finished.

Could it get any easier than that?  

3. Got The Munchies? We Have You Covered.

Who doesn’t like grabbing a snack while waiting for their cycle to finish?

Like laundromats, we’re big fans of vending machines and what they can offer to make some extra coin. 

Vending machines require little to no time or effort to maintain, mainly cause they’ll be located right there in your laundromat. 

This is even better if you hire an operator and aren’t involved in the day-to-day of the business. The operator will be in charge of stocking and refilling the machine while you count the dollars in your bank account.

Most vending machines run between $500 to $3000, depending on whether the machine is new or used. Not such a crazy expense for what it can offer you. You’ll want to buy the inventory in bulk to save on costs and increase your profit margin. 

Hello Costco.

Another great idea is to stock your vending machine with laundry products and supplies… Single-use detergent, dryer sheets, fabric softener, bleach pens. Things people usually forget when they go out to do their laundry. 

4. Upgrade Your Machines.

Before you purchased the laundromat, you would have done your due diligence. This would have included inspecting all the machines in the space to make sure they’re in top-notch condition or close to.

If they weren’t, upgrade them to high-quality machines to maximize your profits in the long run. 

People want fast and efficient, always. So when you provide that service consistently, they’ll come back for more and probably bring a few friends along with them.

Hot tip…Look for machines with cycle modifiers that allow customers to tailor their cycles. You can offer premium washes (think…hot water vs cold water), which you can charge more for. 

Ringing out that extra cash flow from wherever we can. 

Interested in finding out the exact steps you need to take to buy your first (or next) laundromat? We got you. We will walk you through exactly what you have to do to find the deal and close it in our Laundromat Masterclass

…or if you’re really serious about investing in the boring small business game, then our mastermind is the right place for you.

Yours Unconventionally,

Codie & Ryan

Co-founders – Unconventional Acquisitions

If you want to learn more about how to find and buy businesses, check out these articles👇

You can also register for the course here OR if you are serious about buying a small business, join our Mastermind.

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