A Simple Explanation Of The Coin Laundry Business

A Simple Explanation Of The Coin Laundry Business

In San Francisco, there are some laundry services such as Laundry Locker that allow you to put your laundry in a locker, pay online and pick it up in a day or two cleaned and folded.

I have talked to the owners of Laundry Locker and their business model works great in their market and they are expanding to other markets. It appears to work best in the high density, higher income areas.

In my attended store I installed some Drop Off lockers but I’ll go into details on them in another post.

What I wanted to cover here is a video based on the failure of a laundry service in San Francisco called PRIM.

Now it seems PRIM did not actually do the laundry but “partnered” with other companies to do the work while they provided the pickup and delivery. They were the topic of an article in TechCrunch.com not so much because of the service it seems but because the founders were actually working on a tech project that didn’t get off the ground so they entered the laundry business. Six months later they were closing up and moving back into the tech field.

All that was said so you are not distracted from the actual value in the video. This guy, though some colorful language, actually sums up what it means to invest in coin laundry’s.

I do need to mention this video is Not Suitable For Work and has strong language but aside from that he is spot on with his analysis.