According to the latest Coin Laundry Association’s economic report of Feb 2015 the U.S. leading indicators signal steady growth through late 2015. Multi Housing starts are up 16.5% over last year suggesting upward momentum in the vended laundry business and annual personal consumption expenditures for laundry and dry cleaning services are up 3.9% indicating a willingness of consumers to spend more.
Now may be the perfect time to look at your vend pricing and consider price increases. Don’t ignore advertising to promote your competitive advantages and study weaker neighboring competitors to purchase them. Successfully owning and re-tooling an under achieving laundry will protect the “flanks” of your exiting store and dramatically increase your profit margins.