Location, location, location. It’s one of the most crucial factors determining the success and profitability of a laundromat. You can invest in the best commercial equipment, design the most accommodating space, run the most effective marketing campaigns, and overall run an optimized laundry facility without seeing a return if you’re in a poor location. For decades, college campuses have been the holy grail of locations for laundromats thanks to the unique situations of students. Here, we’re going to highlight some of the primary reasons a college is the perfect place to run a laundromat.
You’ll have plenty of potential clients.
When you set up shop near a college, you never run into the problem of lacking potential clients. Whether you’re able to snag a spot near a small private college or a large state institution, you’ll easily have thousands if not tens of thousands of potential patrons. Of course, you’ll need to put in the work to encourage students to use your laundromat over the competitors, but there’s a nearly endless well of laundromat-seekers from which you can pull. It really doesn’t matter if the school is located in a city or small town since the students are your primary target audience.
College students don’t buy equipment.
There’s no reason for college students to purchase washers or dryers due to their temporary living situation, leaving them completely dependent on nearby laundromats. It’s simply not practical for undergraduates to spend thousands of dollars on equipment when they’re most likely going to move away after college in search of employment or back to their home state. Furthermore, the overwhelming majority of students don’t have the funds to spend on equipment or the space to accommodate it. This means your laundromat has the potential to become the hotspot where all students go to get their laundry done.
There’s no shortage of colleges.
The sheer number of colleges throughout the country is another reason these institutions are ideal locations for opening up a laundromat. It’s not like there’s a handful of schools for which all laundry facility owners have to compete and outbid each other. In fact, there are over 4,300 institutions of higher learning in the country, representing a plethora of opportunities for laundromat owners. You’ll have no trouble finding a location that meets your needs and parameters. Make note of the number of competitors in the area before buying a facility location, but you don’t have to avoid other laundromats altogether if the college is big enough.
You benefit from repeat customers.
Laundromat owners are always looking for better ways to attract more people to their facilities. While generating interest in your facility is critical to its success, it’s important not to overlook the value of having repeat customers. The more people you can convince to come back to use your laundromat consistently is less you have to spend on marketing to generate new customers which is always more expensive. Owning a laundromat near a college campus provides you with a fantastic opportunity to generate repeat customers as college students are going to need a place to do laundry for years and years.
College laundromats are profitable.
Finding a perfect location is perhaps the best way to maximize the profits of your laundromat. Of course, you still need to invest in the right equipment, create a comfortable space, attract new customers, and perform all the necessary tasks to run a profitable business to keep things running smoothly. But, having a college laundromat is bound to be a profitable endeavor if all essentials are checked off. It’s a tried and true location that has served laundromat owners well for decades.
Whether you’re currently running a laundromat or thinking about opening a facility, you need a local provider to help you source the right equipment and keep things running smoothly. At Cleaning and Laundry Equipment, we specialize in helping local laundromats throughout the PNW run successfully. Feel free to visit us at www.cleaninglaustg.wpenginepowered.com to see what we have to offer.