Industry Analysis & Industry Trends
The Laundromats industry includes companies that operate self-service laundry and dry-cleaning equipment in laundromats, apartments, dormitories and similar locations. Over the five years to 2014, industry revenue was hindered by rising rental vacancy rates, as a greater share of consumers pursued homeownership. Another trend that has adversely affected the industry is rising competition from laundromats and dry cleaners that offer pick-up and delivery services. The industry's declining sales over the past decade are forecast to continue in the five years to 2019. Heightened rental vacancy rates as the housing sector gains momentum and increasing homeownership rates will decrease demand for rental properties, which are the industry's largest target market... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Laundromats industry is in the decline stage of its industry life cycle. Indicators of this stage are: decreasing profitability, fewer companies and establishments, declining employment and decreasing industry value added. Industry value added, which measures the industry's contribution to GDP, is projected to decline at an average annual rate of 0.2% over the 10 years to 2019. By contrast, GDP is projected to rise 2.7% per year over the same period. Therefore, the industry's contribution to GDP is diminishing over time.
The number of laundromats in the United States has also been declining steadily over the past decade. IBISWorld projects that the number of industry establishments will decline at an annualized rate of 1.7% over the 10 years to 2019... purchase to read more