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2024 U.S. Industry Statistics & Market Forecast - Laundromats & Drycleaners
Market Size & Industry Statistics
The total U.S. industry market size for Laundromats & Drycleaners:
Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders.
In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.
Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.
| Statistics | 2019 2020 2021 2022 2023 | |
|---|---|---|
| Market Size (Total Sales/Revenue) |
Order at top of page | |
| Total Firms | ||
| Total Employees | ||
| Average Revenue Per Firm | ||
| Average Employees Per Firm | ||
| Average Revenue Per Employee | ||
Market Forecast
Market forecasts show the long term industry outlook and future growth trends. The following extended five-year forecast projects both short-term and long-term trends.
| Forecast / Industry Outlook | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|
| Market Forecast ($ millions) | ||||||
| Projected Industry Growth Rate (%) | ||||||
Industry Insights
The Laundromats and Drycleaners industry is experiencing various key trends that are shaping the market dynamics. Firstly, there is increased adoption of technology, where customers are demanding more digital solutions, such as online scheduling of services, mobile payments and automatic controls. Facilities that integrate technology and automation are more likely to attract and retain clients. Secondly, there is an increased focus on creating environmentally friendly services. The industry is moving towards the adoption of eco-friendly cleaning products, such as wet cleaning and liquid carbon dioxide cleaning methods, which are not only effective but also environmentally friendly. Thirdly, the industry is experiencing a shift in customer demographics, with younger generations becoming the primary target market. This demographic is more tech-savvy and environmentally conscious, and they demand flexibility, convenience, and high-quality services. Fourthly, the industry is experiencing increased competition due to the entry of new players in the market, such as app-based on-demand laundry services. This has caused traditional dry cleaners to diversify their offerings and adopt new technologies to remain relevant. Lastly, there is an increased focus on talent management, including staffing, staff training, and retention. This is because well-trained staff can improve the quality of services, resulting in customer loyalty and customer retention.Product & Services Breakdown
Research products and services in the Laundromats & Drycleaners industry generating sales. Note that products are broken into categories with different levels of classification.| Product Description | Number of Companies | Sales ($ millions) | Percent of Total Sales |
|---|---|---|---|
Industry Total |
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Maintenance And Repair - Garments |
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Coin-Operated Laundry And Drycleaning Operations |
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Washer Services |
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Dryer Services |
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Access To Laundry Machines |
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Dry Cleaning Services (Include Household Textiles.) |
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General Dry Cleaning |
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Specialty Dry Cleaning |
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Commercial Laundry Services |
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Retail Laundry And Dry Cleaning Services (Include Drop-Off And Pick-Up Services.) |
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Retail - Dry Cleaning Services |
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Retail - Commercial Laundry Services |
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Rental Of Uniforms, Linens, And Other Textiles |
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Rental Of - Linen Supply Garments, Including Gowns, Coats, Aprons. |
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Rental Of - Linen Supply Flatwork And Full Dry Linens |
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Rental Of - Industrial Garments, Excluding ""Clean Room"" Operations |
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Rental Of - Industrial ""Clean Room"" Garments |
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Rental Of - Industrial Wiping Cloths |
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Rental Of - Industrial Mats, Including Launderable And Unlaunderable |
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Rental Of - Industrial Mops, Cloths, And Miscellaneous Dust Control Items |
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Laundry And Dry-Cleaning Agency Services |
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Agency Services - Non-Commercial Laundry Services |
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Other Laundry Services |
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Resale Of Merchandise |
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All Other Receipts |
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All Other Operating Receipts |
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U.S. Geographic Distribution: Revenue Statistics by State
Market Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.
Income Statement (Average Financial Metrics)
Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.| Industry Average | Percent of Sales (Industry Benchmark) | |
|---|---|---|
| Total Revenue | Order at top of page |
|
| Operating Revenue | ||
| Cost of Goods Sold | ||
| Gross Profit | ||
Operating Expenses | ||
| Pension, profit sharing plans, stock, annuity | ||
| Repairs | ||
| Rent paid on business property | ||
| Charitable Contributions | ||
| Depletion | ||
| Domestic production activities deduction | ||
| Advertising | ||
| Compensation of officers | ||
| Salaries and wages | ||
| Employee benefit programs | ||
| Taxes and Licenses | ||
| Bad Debts | ||
| Depreciation | ||
| Amortization | ||
| Other Operating Expenses | ||
| Total Operating Expenses | ||
| Operating Income | ||
| Non-Operating Income | ||
| EBIT (Earnings Before Interest and Taxes) | ||
| Interest Expense | ||
| Earnings Before Taxes | ||
| Income Tax | ||
| Net Profit Net Income | ||
Financial Ratio Analysis
Financial ratio information can be used to benchmark how a Laundromats & Drycleaners company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.| Profitability & Valuation Ratios | Industry Average |
|---|---|
| Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the Laundromats & Drycleaners industry is performing. | |
| Profit Margin Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues. |
|
| Return on Equity (ROE) Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings). |
|
| Return on Assets (ROA) Return on Assets (ROA) is net income relative to total assets. The market research on Laundromats & Drycleaners measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets. |
|
| Liquidity Ratios | Industry Average |
|---|---|
| Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability. | |
| Current Ratio Measures a firm's ability to pay its debts over the next 12 months. |
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| Quick Ratio (Acid Test) Calculates liquid assets relative to liabilities, excluding inventories. |
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| Efficiency Ratios - Key Performance Indicators | Industry Average |
|---|---|
| Measure how quickly products and services sell, and effectively collections policies are implemented. | |
| Receivables Turnover Ratio If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections. |
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| Average Collection Period Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover |
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| Inventory Turnover A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort. |
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| Fixed-Asset Turnover Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue. |
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Compensation & Salary Surveys for Employees
Compensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.| Title | Percent of Workforce | Bottom Quartile | Average (Median) Salary | Upper Quartile |
|---|---|---|---|---|
| Management Occupations | 3% | Order at top of page |
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| Chief Executives | 0% | |||
| General and Operations Managers | 3% | |||
| Healthcare Support Occupations | 7% | |||
| Other Healthcare Support Occupations | 6% | |||
| Massage Therapists | 6% | |||
| Massage Therapists | 6% | |||
| Personal Care and Service Occupations | 72% | |||
| Personal Appearance Workers | 66% | |||
| Barbers, Hairdressers, Hairstylists and Cosmetologists | 39% | |||
| Hairdressers, Hairstylists, and Cosmetologists | 38% | |||
| Miscellaneous Personal Appearance Workers | 26% | |||
| Manicurists and Pedicurists | 19% | |||
| Skincare Specialists | 6% | |||
| Office and Administrative Support Occupations | 13% | |||
| Information and Record Clerks | 10% | |||
| Receptionists and Information Clerks | 9% | |||
| Receptionists and Information Clerks | 9% | |||
Laundromats & Drycleaners Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the Laundromats & Drycleaners industry and adjacent industries either have large market share or are developing new business models and methods that could disrupt the status quo. We look at leading and emerging companies in the Laundromats & Drycleaners industry and adjacent sectors:| Market Leaders: Direct Competitors Companies with the largest market share, focused in this industry |
Market leaders: Diversified Competitors Largest companies that have diversified operations in this and other industries |
| Innovators: Direct Competitors Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry. |
Innovators: Diversified Competitors Innovators and Disruptors in adjacent industries that may also affect the Laundromats & Drycleaners industry. |
Source:
Innovation News
- Dec 14, 2023: Unifirst trademarks "TO SERVE THE PEOPLE WHO DO THE HARD WORK" - Training in the nature of in-person and online courses for workers
- Dec 08, 2023: Earth Breeze trademarks "POWERFUL CLEAN. POWERFUL IMPACT." - Laundry detergent; Laundry fabric conditioner; Laundry sheets impregnated with detergent; Laundry sheets impregnated with fabric softener
- Dec 08, 2023: Earth Breeze trademarks "ULTRASHEETS" - Laundry detergent; Laundry fabric conditioner; Laundry sheets impregnated with detergent; Laundry sheets impregnated with fabric softener
- Aug 06, 2020: Sobel Westex patents Terry Fabric Having Surfaces With Varying Pile Weights
- Mar 09, 2020: HappyNest raises $2 million in funding.
- Jan 17, 2020: HappyNest raises $1 million in funding.
- Sep 26, 2019: Eastern Technologies patents Pet Beds And And Methods Of Making And Using The Same
- Aug 01, 2019: Eastern Technologies patents Compositions And Methods Of Making And Using The Same
- Apr 30, 2019: Metropolitan Detroit Area Hospital Services raises $47 million in funding.
Recent Federal Contracts for Laundromats & Drycleaners- Apr 02, 2024: AMERICAN LINEN SUPPLY OF NEW MEXICO INC (Las Cruces, NM) awarded $14,617
- Apr 02, 2024: B&H PW, LLC (Oneonta, AL) awarded $2,390,487
- Apr 02, 2024: SCHAIBLE, MARK (Larkspur, CO) awarded $7,567
- Apr 02, 2024: WALKER TOWEL AND UNIFORM SERVICE, INC. (Kansas City, MO) awarded $13,292
- Apr 02, 2024: ELITE LAUNDRY COMPANY (Gallup, NM) awarded $12,000
- Apr 02, 2024: NOVO HEALTH SERVICES, LLC (Atlanta, GA) awarded $297,471
- Apr 02, 2024: AMERICAN LINEN SUPPLY OF NEW MEXICO INC (Las Cruces, NM) awarded $14,617
- Apr 02, 2024: B&H PW, LLC (Oneonta, AL) awarded $2,390,487
- Apr 02, 2024: SCHAIBLE, MARK (Larkspur, CO) awarded $7,567
- Apr 02, 2024: WALKER TOWEL AND UNIFORM SERVICE, INC. (Kansas City, MO) awarded $13,292
- Apr 02, 2024: ELITE LAUNDRY COMPANY (Gallup, NM) awarded $12,000
- Apr 02, 2024: NOVO HEALTH SERVICES, LLC (Atlanta, GA) awarded $297,471
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