|
|
|
Four Critical Success Factors for Business Results
Scenario One
During a recent presentation, a business owner was given the following challenge. If 10 of his 100 employees were asked to name the top 3 organizational goals for the current year as they perceived them to be, would he receive the...
Google AdWords and AdSense - A Dynamic Small Business Marketing Duo
Unless you have been living under a rock for the last year or so, you probably know that Google has become the king of the search engine hill. There are many reasons for this but number one in my opinion is that above all else they put value on...
How Do I Get My Business On The Internet?
This is one of the most frequently asked questions by small business owners. They are feeling the pressure from their customers and competitors, yet for many business people it is a daunting task, as they don't understand the whole process.
...
How To Capture Leads For Your Business with Classified Ad
There are many free online/offline classified ad out there. Some people thinks that it doesnt really work to get the prospect with that service. The fact is that many new marketers using it, posting their offer over and over again. Why?...
Online Business Broker: Stress Free Help Selling Your Business
You've spent several months, perhaps years, putting everything you have into building a thriving, high-demand online business and now you have decided to sell your baby.
Thousands of businesses change hands everyday, oddly enough the...
|
|
| |
|
|
|
|
|
|
IS THE BEST RETIREMENT BUSINESS RIGHT FOR YOU?
IS THE BEST RETIREMENT BUSINESS RIGHT FOR YOU? By Ilene Fudim.
According to the Coin Laundry Association, laundry centers and coin laundries average a powerful 20 to 30% return on investment. A successful laundry owner offers 6 powerful insights on why you too can and should achieve great financial rewards with part- time effort. Are you ready to join the ranks of the many successful entrepreneurs like Dan King who are "cleaning-up" in today's commercial laundry industry?
With stock market fluctuations and an uncertain economy, many Americans have a difficult time finding investments that can survive recessions and economic downturns. However, the commercial laundry business with its 20 to 30% ROI is almost recession proof. In fact both Dun and Bradstreet and the SBA have cited it as one of the 10 top safest business investments one can make. Believe it or not, that?s just one of the many powerful reasons so many retirees are looking to invest in their own laundry stores. The fact is that coin laundries and vended laundries are one of the most advantageous part-time and retirement businesses that exist.
AN OWNER LISTS THE BENEFITS
According to Dan King, owner of several coin laundries in Southern California, ?I highly recommend investing in this industry ? it has worked wonderfully well for me and it can for you. Before I invested I considered 6 major benefits that Laundry Center ownership offered and that no other investment provided."
1. First, I didn?t have to give up my regular job. I found that Coin Laundries basically run themselves, which was great for me because I was looking for an absentee manager situation. The fact is they require just a couple of hours a week and are so easy to operate that basically anyone, anywhere can own one or more.
2. I also liked the fact that this is a ?turn-key? business, where you don?t need staff on the premises. You can set your laundry to stay open 24 hours a day, or you can have an automatic door-locking system on a timer set to open and close when you choose. I personally keep my laundry stores open full-time and that works well for my customers and for me.
3. Another benefit is that you can own a laundry near your home or further away. They thrive in every state of the union. Coin laundries can be placed in virtually all neighborhood shopping centers and perform exceptionally well in renter-occupied, densely populated, lower-income areas. Your average customer will be the estimated 89 million people who live in rental housing, which is the fastest-growing housing segment in the nation.
4. Even better, this is an ?All Cash? business with no inventory and no accounts receivables. You can expect a high return on investment, liquidity, tax benefits, and
fast growing equity. Whatever your cash down payment is at the time of purchase, you can typically expect to get back within seven years, or sooner. Like buying a house, equity builds and you ultimately can expect a substantial profit.
5. Once set up, I found that coin laundries paid off like a ?cash machine? week in and week out. Let?s face it: people will always need to wash their clothes, which is why laundry centers thrive in periods of both growth and recession. In fact, when times are slow and homeownership decreases, the self-service laundry market thrives as more people are unable to afford to repair, replace or purchase new washers and dryers, or as they move to apartment housing with poor or nonexistent laundry facilities.
6. Finally, I loved the fact that I could purchase an existing coin laundry to fit my budget, available investment dollars and personal requirements. Coin laundries generally require between 1,500 and 5,000 square feet of retail space, depending on the market size. Most laundries occupy retail space that is rented on a long-term lease of 10 years to 25 years, including option periods. The cost of buying a vended laundry can range from less than $50,000 to more than one million dollars, depending on size, age and net income.
Bottom line, Dan King is one of many successful entrepreneurs in our dynamic industry. In fact, there are over 35,000 coin- and card-operated laundries in the United States, generating more than $3.5 billion in annual revenue and these numbers are growing! Millions of families use laundries every day. But most people don?t realize that those same laundries offer even better ways to ?clean up? than with water, soap and bleach. With the primary customer representing the fastest growing segment in the nation -- the laundry business is amazingly stable, and dependably profitable. After all, families need clean towels and sheets whether the stock market is up or down. They need clean clothes in summer and winter, on vacation or working, whether they?re newborns, teenagers or retired.
About the author:
Ilene Fudim is a nationally recognized expert in the coin operated laundry industry and a contributing editor to the Laundry Center Marketwatch newsletter. She has been instrumental in helping launch many successful coin laundry businesses. For more information and a free copy of the
Laundry Center Marketwatch newsletter, visit the site at: laundrycenter.info or call toll free 1-877-45-Laundry.
About the Author
Ilene Fudim is a nationally recognized expert in the coin operated laundry industry and a contributing editor to the Laundry Center Marketwatch newsletter. She has been instrumental in helping launch many successful coin laundry businesses.
|
|
|
|
|
|