PWS Inc. has announced that it will develop five new vended laundry locations across California, with another two locations in final lease negotiations.
The new stores will serve customers in Angels Camp, Citrus Heights, Modesto, Orange and Salinas. Most of them will operate under the brand name SpinCycle Laundry Lounge. PWS also is close to finalizing deals in San Francisco and Long Beach.
PWS Co-President Brad Steinberg noted that current market conditions tend to favor the laundromat business type – including an increasing number of renters who are the primary customers of self-service laundries, the availability of prime neighborhood retail real estate locations, increased flexibility on the part of landlords who often cover the cost of buildouts, and growing demand by entrepreneurs.
“Laundromats are stable, consistent performers as operational businesses,” Steinberg explained. “They are COVID-resistant as an essential business, Amazon-resistant and recession-resistant. These are all great locations.”
The new laundromats range in size from 1,440 square feet to 5,600 square feet. All of the leases run 10 years, with multiple five-year options.
Founded in 1968, PWS, Inc. maintains offices in South Gate (Los Angeles), South San Francisco and San Diego, with representation in Nevada.
(Photo courtesy of PWS Inc.)