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 2015, 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 2020. 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 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 0.2% over the 10 years to 2020. By contrast, GDP is projected to rise 2.5% per year over 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