Industry Analysis & Industry Trends
The Laundromats industry includes companies that offer on-premises coin- or card-operated washers and dryers, as well as companies that operate self-service laundry and dry-cleaning equipment in apartments, dormitories and similar locations. Increased disposable income has led to increased competition from both household laundry machines and dropoff and pickup laundry and dry cleaning services. Over the next five years, industry revenue is expected to decline as more consumers purchase personal laundry appliances. This decrease will be compounded by rising rental vacancy rates, as more individuals purchase homes amid the housing market's recovery, thereby obtaining sufficient space for a washer and dryer... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Laundromats industry is in the declining stage of its industry life cycle. Industry value added (IVA), which measures the industry's contribution to GDP, is projected to rise at an average annual rate of 0.5% over the 10 years to 2021. By contrast, GDP is projected to rise an annualized 2.2% during the same period. Low IVA relative to the economy as a whole reflects the industry's falling contribution to the economy, a key indicator that this industry is declining. Other industry characteristics, such as fewer companies and declining employment over the 10-year period, firmly establish this industry in the declining life cycle stage.
The number of laundromats in the United States has also been declining steadily over the past decade... purchase to read more