Why Are So Few Laundromat Advances Made in our Equipment?
By: “Laundromat 123”
I am surprised by the number of potential Laundromat owners who don’t explore the advances in equipment used in the business they are considering for an investment. Some advances are minimal and some are significant. Lately, the preponderance of “advances” relates to computer control of existing equipment designs.
The Laundromat industry as a whole is not a large market. Various sources suggest the number of Laundromats range in number from 25,000 to 40,000 stores in the USA. This means that the potential profit dollars pursued by all the Laundromat equipment manufacturers currently being sold probably amount to less than the profits made by a single foreign automobile importer.
This translates to the reality that major investments in dramatic improvements are few and far between. What is available to our industry are minor improvements and electronic additions. A complete redesign and the introduction of a completely new design are limited. This is understandable.
Consider the Alliance company that owns the brands Speed Queen, Huebsch, Primus, Ipso, UniMac and D’hooge was until recently owned by a Canadian teacher’s retirement fund. A few steps down from when Raytheon was the owner. They realized making few more missiles for the iron dome equaled the profits obtained operating a laundry equipment manufacturer. At least that’s the explanation that was passed along to distributors a few decades past.
The point is that new product lines are seldom seen in our limited size marketplace. This doesn’t mean that small entities can’t produce quality products, it’s just that large bundles of corporate funds are not available to dramatically changing the equipment used in our industry. We are slowly given improvements because of limitations of economic realities.
This brings me to my suggestion that if you’re actually interested in seeing a significant advancement in Laundromat equipment, especially the washer line, you need to check your calendar to reserve September 28th to attend a Profit Symposium introducing the new Continental Girbau Genius line of washers. My information says this equipment will be instrumental to owners and potential investors who want to include Wash/Dry/Fold (Fluff ‘n Fold) services in their stores.
The top advisor of the CLA, experienced owners, the President of Continental Girbau USA and me are going to be there to observe and learn. Many people text me with requests that I write a book about my long history of success and other experiences in this business. Anyone wanting to speak and greet with me; I’ll be available to answer your questions. Of course, the featured speakers will be the most significant reason to attend. Hope I can see lots of you serious potential owners, investors and newbies who are able to attend.
P.S. There is a second presentation available in the Arizona marketplace the week prior. Give Continental GIrbau a call to make a reservation for that event sans Larry.