n175h
02-09-2005, 11:41 AM
Did you guys read the article in Coin Laundry News (Feb. 2005) written by Pamela Marks which paints a glowing picture of the coin laundry business.
By glowing, I mean it is the "sexiest", "safest", "easiest", "highest return" business on the market today. It goes on to say that laundries are recession proof, and provide a return of 20 to 30%.
The article paints the picture of a market way under utilized and has room for thousands of locations all over the country. After reading that, I had the idea a laundry should be on every corner like a convenience store. One gets the impression that this business can be managed in a couple of hours or less per week, reaping milk and honey from the promised land of overflowing coin boxes.
The bio on the author says, "Pamela Marks is a noted marketing and communication consultant with expertise in a broad spectrum of national industries." I did a search on "Pamela Marks", journalist, and only 7 hits came up, none of which I could find any relevance to her expertise. Hey Pete, you always end your posts with, "If it were that easy, everyone would do it." I think this article takes that adage to the next level.
Now, one has to read this with caution as most of the information came from PWS, the same company that bought Spin Cycle, right? Isn't that the laundry chain that went bankrupt? oops, laundries never go broke, right?
The article says nothing about oversaturation, soaring utiliity rates eating away profits, and pricing competition that makes our product almost have commodity status. It certainly doesn't reference the pages of repossesed equipment that grace the classifieds in the back of the "Journal" each month.
I've got to hand it to PWS, however. It was a great two pages of advertising and marketing.
David
By glowing, I mean it is the "sexiest", "safest", "easiest", "highest return" business on the market today. It goes on to say that laundries are recession proof, and provide a return of 20 to 30%.
The article paints the picture of a market way under utilized and has room for thousands of locations all over the country. After reading that, I had the idea a laundry should be on every corner like a convenience store. One gets the impression that this business can be managed in a couple of hours or less per week, reaping milk and honey from the promised land of overflowing coin boxes.
The bio on the author says, "Pamela Marks is a noted marketing and communication consultant with expertise in a broad spectrum of national industries." I did a search on "Pamela Marks", journalist, and only 7 hits came up, none of which I could find any relevance to her expertise. Hey Pete, you always end your posts with, "If it were that easy, everyone would do it." I think this article takes that adage to the next level.
Now, one has to read this with caution as most of the information came from PWS, the same company that bought Spin Cycle, right? Isn't that the laundry chain that went bankrupt? oops, laundries never go broke, right?
The article says nothing about oversaturation, soaring utiliity rates eating away profits, and pricing competition that makes our product almost have commodity status. It certainly doesn't reference the pages of repossesed equipment that grace the classifieds in the back of the "Journal" each month.
I've got to hand it to PWS, however. It was a great two pages of advertising and marketing.
David