Owning a laundromat is a beautiful thing; it really is. You get to meet members of your community, and you provide a truly valuable service. Now, while this may be the case, have you ever asked yourself if you could do more with all of the space you have?
Making money with a laundromat is a fairly simple concept; it just works. While this may be the case, having the right vending machine for your laundromat can earn you some extra cash; maybe even make some of your regulars happier to hangout for a little longer.
Therefore, I’ll be showing you how a vending machine can be a profitable tool for your laundromat. Plus, not only is it a great way to make extra cash, but you’ll also find that the right vending machine can be the perfect amenity to draw more customers in.
So let’s take a look at the options you have, and how to exploit them for some extra income.
If you want to make some extra money with your laundromat, you can always lease a vending machine. This is a bit different than buying your own vending machine, because you won’t have to handle any of the day-to-day.
What does that mean?
It’s simple, whoever owns the machine handles the hassle. They’ll choose the machine, maintain the machine, and even fill it with the product selection that they offer. All you need to do is rent out the space, and plenty of vending machines companies will jump at the chance to throw some coin your way.
Also, an important thing to be aware of with leasing is that there is no liability. If something is expired, or if someone injures themselves, you’re not held accountable.
What’s the downside to laundromat vending machines?
The only real downside here is that you won’t earn a large share of the profits. This is a set it and forget it type of deal, so just make sure you know what you’re getting into.
While leasing a vending machine may be hassle-free, I would definitely consider buying one if you own a laundromat. I’ll have more on that for you in just a moment.
Now that we’ve taken a look at the leasing option, I want to show you why buying a vending machine is very lucrative. It might seem like they don’t draw in a lot of money, but it’s actually quite the opposite. When you buy a vending machine for your laundromat, it will definitely pay for itself.
How much do laundromat vending machines cost?
The price can really range. This is due to the fact that older machines can be as inexpensive as $500, while a brand new machine may cost you up to $4,000 (top-notch).
While a new machine will look flashy and have more appeal, it’s not a bad idea to look at an older machine. Why? Because they all perform the same exact function anyway.
Pro tip: save some money upfront and dress it up yourself!
How profitable are laundromat vending machines?
Laundromat vending machines are a very solid way to make some income. You can even finance most new ones for less than $500 per month, and you’ll likely see an ROI of around $1,000 per month. So when you think about it, choosing the right vending machine can be highly lucrative.
What laundromat vending machines offer the best ROI?
This is really up to you, the owner, but I do have some tips to make sure that this is worth it. For example, the average combination vending machine (both food and drink), can make you up to $50 to $100 per day. Of course, this all depends on the location; which is why your laundromat is an excellent spot for a vending machine.
Let me break this down for you. At a laundromat, people spend quite a bit of time there. Not only are people coming in quite often, but when they’re spending 20-30 minutes waiting around, they may be tempted to grab a snack.
Here is a quick look at some of the best laundromat vending machines based on the upfront price and profit expectation:
- Food and drink machines: more expensive upfront, but more profitable over time
- Bulk candy vending machines: very inexpensive, and a good way to make consistent money; albeit a bit less
At the end of the day, I can’t make this decision for you. I know that you may have a lot of expenses already, but when you consider the easy money that you can make with laundromat vending machines, it’s definitely worth it.
Personally, I would start with a small machine. Maybe go with a bulk candy machine to get your feet wet. See how that machine does, and if you like what you see, grab yourself food and drink machine to go with it.
Also, keep in mind that a lot of this has to do with your clients. Obviously, you know your clients best, so go ahead and stock whatever you think they might like the best.
If you’re feeling bold, why not ask around to see how your customers would respond?
Now that you know the facts, do you think that laundromat vending machines are right for you?