This cashless laundry is suitable for customers who want clean laundry in a short time without leaving their social life. You don’t even need to wait for the laundry to finish at the location, because The Laundro has presented Cycle Complete Notification. The function of this feature is to notify you to pick up the laundry that has been washed, read here for more information!
Now let’s get to the core of the Cashless Laundry Business, namely the calculation part. Before starting the business, we need to calculate an estimate of how much capital we have to spend, what the variable costs are, how much income, what the margin is, then when will the return on investment be and so on. This is just an estimate. Therefore, things often go wrong here and there if we are not guided by experts or people who are experienced in this business.
Calculation Part
Expenditure
Laundro Subscription Package = (±) RM 7000
Rent place = RM 4000-15,000 / year
Monthly
Electricity, water, detergent, clothes freshener, etc. = (±) RM 1000
Sale
In one day he can sell 200 coins
1 piece is sold for RM 1
Z = 200 x 1 = RM 200
Per month = 200 x 30 = RM 6000
Per year = 6000 x 12 = RM 72,000
The washing process using a washing machine with a capacity of 10 kg for 25 minutes is usually set at 5 coins. Then the 5 coin dryer machine. Generally the price of one coin is RM 1. So, if you sell just 200 coins in a day, you can earn a turnover of around RM 6000 / month.
Profit per year is = Sales – Expenses
= RM 72,000 + 23,000
= RM 49,000
No more excuse to not open an outlet
Starting a cashless laundry business can indeed be a profitable venture, and here are several compelling reasons to consider:
Steady Income Stream: Cashless laundry businesses offer a consistent income stream as people need to do laundry regardless of economic conditions. This stability can provide you with a reliable source of revenue over time.
Minimal Staffing Requirements: Unlike other businesses that may require a larger workforce, a coin laundry business can often be operated with minimal staff. This reduces labor costs and simplifies management.
Passive Income Potential: Once the initial setup is complete, a coin laundry business can generate passive income. Customers do their own laundry, and the machines handle the cleaning process, allowing you to focus on other aspects of your business or pursue other ventures.
Recession-Resistant: Coin laundry businesses are relatively recession-resistant. During economic downturns, people may opt to use laundromats instead of purchasing new appliances, making your business a practical choice for cost-conscious consumers.
Diverse Customer Base: Your customer base can be quite diverse, ranging from apartment dwellers without laundry facilities to travelers and students. This diversity can help mitigate the risks associated with relying on a single demographic.
Low Overhead Costs: Operating costs for a cashless laundry business are generally lower compared to businesses that require ongoing inventory or extensive maintenance. This can contribute to higher profit margins.
Environmentally Friendly Option: Modern coin laundry businesses often invest in energy-efficient machines, water-saving technologies, and eco-friendly detergents. This commitment to sustainability can attract environmentally conscious customers.
Valuable Real Estate Investment: If you own the property where your coin laundry is located, it can become a valuable real estate investment. The property’s value may appreciate over time, providing you with an additional financial benefit.
Starting a cashless laundry business can be a smart entrepreneurial move, offering both financial stability and potential for growth. However, like any business venture, it’s important to conduct thorough market research, develop a solid business plan, and be prepared to invest time and effort into managing and promoting your business for optimal results. Don’t feel hesitate to discuss your plan with our team!
