|PWS Laundry, which has developed more than 3,000 laundromats and at one time operated in 17 states, is expanding. The company seeks to open 30 to 50 new locations across the U.S. in the next 12 months, maximizing its expertise building state-of-the-art retail laundromats and selling them to independent operators.
In addition to developing laundromats, PWS is the nation’s largest distributor of laundry equipment and parts for laundromats, commercial laundries and multifamily landlords.
“Our company has been around for three generations,” said Brad Steinberg, Co-President of PWS, whose grandfather started the business with two partners in 1968. “My business partner, Brad Pollack, is a second-generation owner and we both see an incredible opportunity to accelerate the development of new laundromats.”
Steinberg said current market conditions favor the business type, including an increasing number of renters who are the primary customer of self-service laundromats; the availability of prime neighborhood retail real estate locations; increased flexibility on the part of landlords who often cover the cost of build-outs; and demand for the operating businesses by entrepreneurs.
PWS has built, owned and operated laundromats under recognizable brand names including Launderland, Lucy’s LaundryMart, Sudz and most recently SpinCycle Laundry Lounge. The laundromats the company develops today feature modern materials and fixtures and are extremely energy efficient.
Steinberg points out that Laundromats are in many ways an ideal tenant for a neighborhood shopping center or inline retail strip. They’re stable, consistent performers operationally; recession-, virus- and Amazon-resistant; and they’re a magnet for local traffic.
Here is the criteria for a new PWS Laundromat location:
• 2.5k sf – 6k sf (for lease) / 2.5k sf – 15k sf (for purchase)
• High density
• High percentage of renters
• Great parking (at least 4:1)
• Good exposure / visibility
• Landlord willing to build out laundromat space; PWS will provide all laundry equipment
• Always interested in second-generation laundromat space
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