The Coin Laundry Association has collaborated with American Marketing & Publishing, LLC (AMP) to offer affordable and practical digital marketing programs for laundry owners to help promote and grow your business. These OPTIMA™ programs include complete and up-to-date business listings on sites such as Google My Business, Yelp, and Bing; mobile-optimized websites; positive reviews being automatically featured on your website; and they provide a dedicated Account Manager to do all the work for you as you get started…
As the new Vice President of Sales, John will be calling on Vended and On Premises Commercial Laundry needs for Star Distributing which covers Tennessee, Kentucky, northern Alabama and northern Georgia. Star Distributing is based in Nashville, TN and has been in the Commercial Laundry business for 62 years. Star Distributing originated in Atlanta, GA, and migrated to the Tennessee and Kentucky markets in the early 1990’s. Star Distributing fulfills all the needs for commercial laundry equipment, installation, parts and service.
In his role prior to Star Distributing, John was a Regional Sales Manager for 15 years with Electrostim Medical Services, Inc. EMS is based in Tampa, FL, and represent the medical device space. John was in charge of hiring, training and managing a sales team of 28 in an 8-state territory in the northern Midwest. John now owns a coin laundry, which gives him hands on experience to give to customers.
Michael Davis, President and CEO of Star Distributing said “I am very proud to have John with all his experience in customer service and sales. He is going to be a great addition to the Star Distributing team. We look forward to working with John for many years to come.”
Investing in your own laundromat business is a big decision. Like any potential businesses investor, you’ve probably started researching the ins and outs of the industry. However, with all the information available, it can be hard to know where to turn or who to trust. If you’re considering investing in a laundry business, here are some key laundromat industry statistics you should know:
There are currently about 35,000 laundromats nationwide.
Laundromats generate about $5 billion in combined nationwide gross annual revenue.
Coin laundries can range in market value from $50,000 to more than $1 million.
Coin laundries generate cash flow between $15,000 and $300,000 per year.
Success Rate/Return on Investment
The laundromat industry sees about a 95% success rate.
Laundromat businesses average between 20-35% ROI.
An Average Laundromat Business
The average laundromat facility is 2,170 square feet, but businesses range from 1,000 to 5,000 square feet.
Laundromats are typically open between 6 a.m. and 11 p.m., while some choose a 24-hour model.
70% of laundromats have two employees or less.
There are no major laundromat chains or franchises.
About 36% of laundromat investors consider their store a part-time job, while 63% consider it a full-time job.
Start-up cost range between $100,000 and $300,000.
Most facilities have between 40 and 100 washers and dryers.
Most commercial laundromat equipment will last about 10-15 years.
Low income renters are the primary users of coin laundries.
More than 60% of laundromat patrons are women.
87% of customers live within a mile of the facility.
Laundromat customers’ median household income is $28,000.
90% of patrons become repeat customers.
If you’re interested in taking the next step to turn your laundromat dreams into a reality, contact Star Distributing today!
The most recent trend in payments in North America and around the World is the emergence of contactless credit cards (Tap & Go). Contactless credit cards allow you to “tap” your credit card on the payment terminal rather than swiping or inserting it. In an April 2020 study by Mastercard, 79 percent of respondents worldwide say they are now using contactless payments, citing safety and cleanliness as key drivers. This has become especially important during the COVID-19 pandemic, where consumers are taking unprecedented measures to limit physical contact in public.
Visa has stated that there are now more than 175 million Contactless Credit Cards in the United States alone. Mastercard data shows 40 percent growth in contactless transactions globally in the first quarter of 2020. Furthermore, 80 percent of contactless transactions are under $25.00, a range that is typically dominated by cash.
Laundry owners and customers have been looking for a clean, fast, safe, and secure payment method and finally, they have a solution. With SpyderWash, customers can use their Contactless Credit/Debit Cards directly at the washers and dryers, just like they would at grocery stores or any other retail shop payment terminal. Additionally, SpyderWash accepts Mag Stripe Credit/Debit Cards, Loyalty Cards, NFC/Smartphone payments via Apple/Google/Samsung Pay, as well as being EMV chip insert capable.
We have carefully studied payment trends worldwide and SpyderWash is the ONLY laundry payment system to incorporate both current and future forms of mainstream payment directly on the washers and dryers. With the Pandemic as well as a Nationwide shortage in quarters, now is the perfect time for your customers to consider adding SpyderWash to their laundromat. Please contact us to learn more about payment trends and how SpyderWash can maximize revenue for store owners.
A laundromat, like any other retail business, needs to be run and managed properly if it is going to be successful. As a store owner, you can spend your days worrying about your business’ success or feeling secure that your business is running smoothly because you are providing top service that keeps your customers coming back. Overall, a better customer experience means a healthier bottom line.
Here are other top reasons to consider replacing your equipment:
Higher Income Potential
Increased Retained Income
Higher Bank Balances
Increased Customer Satisfaction
Lower Utility Costs
More Free Time
Lower Maintenance Costs
Fewer Maintenance Problems
Excellent Tax Benefits
Improved Value of your Business
Why Speed Queen?
Replacing your equipment with Speed Queen lets you give your customers the convenience they want, and it makes running your business hassle free. New Speed Queen machines can also significantly reduce your annual utility costs. Combined with advanced controls, they’re designed to conserve more water and use less energy, maximizing cost-savings per square foot of laundromat space.
FREE REPLACEMENT ANALYSIS
If you are looking to upgrade your laundry equipment to better serve customers with advanced features and continue to provide an essential service during the current crisis, we’d love to provide you a free replacement analysis upon your request.
The laundromat industry, led by owners and their employees, has stepped up to the challenge of the COVID-19 crisis by increasing disinfecting procedures and applying new approaches aimed at social distancing in laundromat facilities. The Coin Laundry Association has released a video recognizing these efforts and thanking the tens of millions of customers who rely on laundromats for the essential service of clean clothes each week.
From the start of this pandemic, the laundry industry has embraced its essential status and the responsibility that goes along with it.
Even before the formal guidance emerged from the CDC and other experts, laundry owners instinctually began to build on their already-strong cleaning and disinfecting procedures. Laundromat workers began cleaning more often and paying more attention to high touch surfaces, store owners added a disinfection procedure for laundry carts and folding tables – and much more.
Brian Wallace, President/CEO of the Coin Laundry Association, taped another brief video to share the latest news and resources regarding the coronavirus (COVID-19) pandemic and its effects on the laundry industry.
Cleaning Best Practices
We wanted to re-up the best practices and guidelines shared by CDC, EPA and the American Cleaning Institute. Let’s make sure that we are doing all we can to follow this good advice. Please read the most recent guidance on keeping your facility clean, choosing the right cleaning products and the best ways to keep your employees and customers safer.Download the CDC Guidance Document
The next component is to put your disinfection plan in writing and train your employees to follow it to the letter. The CDC has provided guidance on this. Once you have your updated procedures in writing, make sure that you are training your attendants and documenting that training.Download the Disinfectants Guide
The most important part may be to communicate and market to your customers and potential customers. In-store signage is critical to sharing key messages with your customers about the new rules of engagement for using the laundromat.
Don’t forget to include your clean routine in your advertising and social media – now is the time to show off all the steps you are taking to keep your laundry clean. We’ve seen some inspiring media coverage of laundromats and their cleaning regimen. In fact, CLA has created a press release template you can use to let local media know how clean your laundromat is – customize all you like and use this tool to draw more attention to all of your hard work.
Treasury and the U.S. Small Business Administration (SBA) released new Paycheck Protection Program (PPP) guidance Friday night that provided some clarity on several loan forgiveness questions, but didn’t address the two parts of PPP that arguably have generated the most concerns among the millions of small businesses and other entities that have received funding.
Two new interim final rules issued late Friday build upon the loan forgiveness application and instructions released May 15, but they don’t make changes to either the eight-week period during which PPP funds must be spent to qualify for forgiveness or the rule requiring PPP borrowers to spend at least 75% of the funds on payroll costs to qualify for full loan forgiveness. Those two issues are the focus of multiple bills being considered in Congress.
The Senate could vote as early as this week on a bill that would double the loan forgiveness period to 16 weeks. The House is expected to vote this week on standalone legislation that would extend the loan forgiveness period to as long as 24 weeks and also eliminate the rule requiring PPP borrowers to spend at least 75% of the funds on payroll costs to qualify for full loan forgiveness. A separate Senate bill would also expand the loan forgiveness period to 24 weeks and eliminate the 75% rule.
Critics of the eight-week loan forgiveness period argue that it isn’t flexible enough for businesses that have dealt, and in many cases continue to deal, with state and locally mandated stay-at-home orders that have kept many types of businesses closed or operating at significantly reduced capacity. Critics of the 75% rule argue that it does not do enough to accommodate businesses whose employees haven’t been able to work because of government-imposed business closures.
Through May 23, the SBA approved more than 4.4 million PPP loans totaling more than $511 billion. About $138 billion in PPP funds remained available for additional lending as of May 23.
This coming Thursday, May 28 at 2 p.m. CT will be our last virtual master class, “Self-Care Is Not Self-Ish” with Michael Angelo Caruso. Register for this event today. You don’t want to miss this event!
CLA members can have access to all three master classes for only $99. We’ve recorded each prior session, and they are all included in your package as a convenient download. Register at www.coinlaundry.org/masterclass.
Town Hall Meeting for CLA Members
CLA members can register for our Town Hall Meeting event, which will be held this Friday, May 29, 2020 at 2 p.m. CT. Every CLA member should have received an email with the registration instructions for this Zoom meeting. Join us to chat about what’s going on in today’s business environment.
Not a CLA member? Be part of our essential industry’s association by visiting www.coinlaundry.org/joinclanow. Get a free video “Laundromat Lifecycles” (a $25 value) with your purchase of a new membership. Join for as little as $27 per month.
Join the LaundryCares Network
The LaundryCares Foundation is building a database of stores that are community friendly and can be called upon as potential sources of help. Get listed in our directory by including your store locations. Join for free today. We have a goal of adding 500 stores to the LaundryCares Network by July and 2000 by November. Call 800-570-5629 for more info.
Signage and procedure information have been continuously added to the resource page. Wash-Dry-Go app is now available at www.washdrygo.com. BCC Payments has developed this software, which they are offering at no cost to help the laundry industry.
The new coronavirus has made many people stressed about clothes and cleanliness, especially those living in cities.
Now that millions of Americans are being advised to stay at home as much as possible to help limit the spread of the new coronavirus, people are re-evaluating how to manage daily tasks and chores while sticking to social distancing measures.
That includes laundry. Whether you have a washer/dryer in your home or rely on your local laundromat, there are several ways to reduce your risk of viral exposure or spread. Here are some common questions and answers, based on interviews with three experts.
(Keep in mind that as researchers discover ore about the new coronavirus, best practices may change.)
The Coin Laundry Association has continued to monitor the coronavirus (COVID-19) situation across the country. Please visit our COVID-19 resource article for other information including helpful resources and downloads.
We hope that you’re well and that your family is doing well. The CLA staff has been busy all week fielding many calls and emails, and we’re doing our level best to answer all questions.
Our number one objective has been to work with states across America to keep laundromats on the essential-business list. As you are probably aware, a number of states are considering, or have executed, more restrictions and the general public.
Brian Wallace, President/CEO of the CLA, recorded the following video with the latest information about the pandemic and its effect on the laundry industry. Click below to watch.