Laundromat Resource › Forums › Financing › ROI on new equipment

last updated by Jordan Berry 5 years, 10 months ago
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    • June 3, 2020 at 5:11 am #1707
      Corey Kane
      Participant

        Hi, What is the best way to determine whether or not it is worth investing in new machines? Thanks!

      • June 4, 2020 at 1:18 pm #1724
        Jordan Berry
        Keymaster

          Awesome question Corey! I think a lot of it has to do with the trajectory of the business, and also customer trust. Here’s what I mean by that. If you have older machines and you see your business steadily declining, it would be worth looking into the role your older machines are playing in decreased business.

          If customers are playing washer roulette, not knowing if a machine is going to work or not when they put money in, they start to lose trust in those machines, and consequently, your business. It’s probably time to either get those machines on a more regular maintenance schedule or to replace them.

          But, machines aren’t cheap and you’re not guaranteed to increase your business by the amount of the loan payment if you finance them. So weigh the decision carefully. And hopefully you’ll hear from some others on this. I’ll shout it out on the next podcast and see if we can get some helpful answers here for you!

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      Laundromat Resource › Forums › Financing › ROI on new equipment