You have many options for investing in a business today. Some people want to start big by investing in something complex and grand. It is often better to be more practical and invest in something proven. This is where laundromats come into the picture. Here are three reasons why you should invest in a laundromat.

They Are In Demand Almost Everywhere

One of the first reasons to invest in a laundromat is that they are in demand almost everywhere. Some businesses like boutique clothing stores or pet grooming shops have a very narrow appeal. This means they might not do well unless a location is chosen where there is demand for those businesses. Laundromats are different because the storefront provides a basic service that many people need regardless of job, lifestyle or income. You could potentially gain many regular customers within the first week of opening.

An added bonus of investing in a laundromat is the possibility of corporate clients. Businesses often need to have uniforms, linens or other items laundered. You could potentially broker deals to handle commercial laundry loads during off hours at regular intervals. This could bring in income even during the slowest times of the year.

Automation Can Lower Overhead and Costs

Although there are over 199,000 laundry and dry-cleaning workers in the country, most locations require just one or two people to operate the business. A laundromat gives you the opportunity to automate nearly every part of the process customers must go through. A laundromat does not even have to be staffed if the right equipment is used. This has the major advantage of lowering overhead and providing you with passive income.

Automation also gives you the advantage of being able to open new laundromat locations fast to build the brand or franchise. You will not have to go through extensive hiring or training processes. The laundromat can just be filled with the right equipment and then left to operate by itself until you eventually check in. This can increase your revenue significantly.

Incredibly Simple Business Model

Laundromats earn around $3.4 billion annually. This is impressive since laundromats have an incredibly simple business model. If you invest in a laundromat, then you do not need to deal with many of the complex aspects of running other types of businesses. You need to be concerned just about the property and the equipment. There are no issues with inventories, complicated customer service transactions or intricate accounting.

This simple business model makes investing in a laundromat the right decision for people who want to try owning a business for the first time. The laundromat mostly takes care of itself. This gives you the opportunity to learn as the business grows and expands over time.