demographics - for starters

[slechols]

I realize many of you think demographics studies and census figures are a complete waste of time, but right now, I believe for me, it is the best place to start. With that said, for those of you that have used these studies for one reason or another, what trends do you look for in the various areas, such as age, gender, family size, etc? Do you look for younger or older, large families, low income, smaller houses, mobile homes, apartments, etc? Don't most apartment complexes have their own coin laundry?

I have heard this (can't remember where), but more people are buying their own washers and dryers lately, sometimes one of their first major purchases. Any validity to that notion?

I just need to get some ideas. In my area, there are two laundromats that I know of and they are not in the best condition and are on the small size. Our side of town is growing at an astronomical rate and I don't know why there are no other laundromats in the area. Just speculating.

[CharlieS]

Do a thread search for demographics. All the details are there. Lots of prior discussion. CLA also had an article.

Charlie

[BWJR]

Why do you think most of this board thinks that demographic studies are a waste of time? Also as far as I know the Apt rental industry is still doing well. Most people who live in an Apt do not buy a washer and dryer. That's a fact! Find your Demographics and use them, but remember to take the time to study them carefully and possibly ask someone who knows your area what he or she thinks about a particular area of interest. It might be a good idea to call a local distributor for laundry equipment. Make sure you check them out first.

BWJR

[ajay]

I believe demographics are only a starting point, knowing competition, conditions, etc.. will help...but still very uncertain when looking at a new store.

While it's hard to predict future, you can certainly build your future by learning what it is today. Your distributor should be able to give you quick facts of the area.

You'll need to concentrate on renter versus owner occupied for .25, .5 and .75 mile radius of your location. Assume $500 per/year/household spending. So, for population of 2000 with renters of 1000. you'll use (2000(1000/2000)*.25)*500= . For each radius.

ajay

[pete f]

Get in your car and drive the area you are wanting to put a mat in. We have discussed this many times. Nobody here is going to tell you the secrets of reading demos for a mat. There really isn't any we have not already posted.
A fast growing area to me means a bad mat area. Single family homes, newer rental apts with washers, not the best way to go, unless you have full service and offer w/d/f, dry clean, tan beds, etc, not looking for coin revenue as a core income stream.
Most of the best places for a laundromat are areas you probably don't normally drive thru, and there is probably a l'mat already there.