Background
When David Collyer retired from his executive role after three decades in software and customer engagement, he spent a full year exploring and evaluating different investment opportunities, from franchise restaurants to self-storage and triple net lease. He had already mapped out a specific set of criteria: consistent, predictable cash flow, minimal staff management, simple business model, opportunity to scale easily... laundromats seemed to check all the boxes.
Early Research
"Oh, this is perfect," David recalls. "They sold the laundromat. I wonder why they sold it. I can get the real scoop."
The answer surprised him. The doctor had sold simply because both spouses had demanding careers and received an attractive offer. In fact, he was thrilled with the general performance of his laundromat and would absolutely do it again.
"Here's a guy who's a doctor, a professional making really good money," David reflects. "And he's telling me he would definitely do it again. He's probably going to buy more laundromats when he retires. I thought, wow, this could be something."
The conversation crystallized David's thinking: if a successful physician chose laundromats for retirement income over many other investment options, the opportunity was real.
But David didn't rush in. He continued to spend months researching different aspects of the laundromat industry. In the process, he uncovered a pattern: successful laundromats weren't lucky. The ones that did well were operated with the same level of care, rigor, due diligence and strategic thinking that drives success in any other type of business.
Not Just Another Coin Laundry
Most laundromat operators target working-class neighborhoods and compete on price. David saw opportunity in the opposite approach. His strategy targets a customer base who value their time, who expect premium care of their garments, who want a modern laundromat experience - even if it means paying slightly more per load.
"I have customers with a washer & dryer at home who still come here weekly," David explains. "They have kids, careers, busy lives… who wants to spend a whole day doing laundry?”
However, David didn’t want to offer solely pickup and delivery — he wanted to serve the community and bring the same level of care and premium service to walk-in customers. This dual-track approach, traditional self-service plus premium wash-and-fold and delivery, meant that selecting the right location was critical.
To execute his upscale vision for The Wash without compromise, David had to take intentional and calculated steps.
First and foremost, the store had to be located in an area with the ideal demographic mix that fit his business model and probably built from the ground up as none of the available laundry businesses for sale came close to what David set out to do.
The Wash had to offer fast, high-efficiency equipment, welcoming decor and aesthetics, and modern amenities that go beyond typical vending machines, like wireless charging stations and a customer mobile app to operate the machines. David knew that top-tier customer service was core to his strategy and essential for his success — his store is tended by professional, helpful, friendly staff greeting customers at the door. David himself is frequently there, greeting his customers, offering advice, asking what would make their experience even better.
“Here they get cleaner clothes, it's fresher, they get to spend, you know, 45 minutes or an hour in a beautiful environment with super friendly people that help them. I mean, why would they go anywhere else?
Why Specialized Expertise Matters
David initially worked with a commercial real estate broker for four months. The limitations quickly became apparent.
"She'd bring one or two locations every other week," David says. "She didn't understand electrical requirements for high-efficiency equipment, drainage specifications, or laundromat-specific lease terms. We were fumbling through the dark together."
“I didn't have the luxury of a lot of trial and error,” David recalls. “If I was going to have the best chance possible to make this thing work… I needed to find a partner that could help me [make] it a success on my first try.”
When David connected with LaundryLux Real Estate Advisors (LRE), the contrast was immediate. Within two weeks, he had four fully-vetted locations analyzed across several dozen parameters and data points. LRE performed competitive mapping, infrastructure assessments, and financial projections tailored to his business model, service offering and equipment mix.
"The amount of data LRE brought to analyze locations based on my specific requirements… it was orders of magnitude beyond what I'd experienced."LRE also assisted David with landlord and broker outreach, and LOI prep to help him secure favorable lease terms. Even when negotiations hit a roadblock, LRE brought several more researched, viable alternative options, one of which ultimately became The Wash. The entire site search process took less than three weeks.
The Hidden Complexity
Finding the location was just the beginning. David's research revealed the industry's fundamental challenge: fragmentation.
Equipment specifications must align with infrastructure. Lease terms need to account for build-out timelines. Construction must coordinate with equipment delivery. Each piece affects the others, and any delays can quickly burn through any free-rent period and cascade into costly problems.
"Having an integrated team that knows each other and can coordinate [the trades] — that was critical. Doing it myself would have easily doubled the timeline."
The complexity is in the details. High-efficiency equipment doesn't just plug into any whitebox space or even pre-existing plumbing and infrastructure. It requires specific drainage pipe diameters, adequate utility supply, proper ventilation, etc. David’s unique positioning rippled through dozens of decisions: from equipment selection and payment systems that integrate mobile apps, cards and coin, to carefully selected fixtures and finishes that can withstand heavy use, yet still maintain a premium look and feel. Even the bathroom was given special attention on both design and cleanliness. Without coordinated planning, these elements can become expensive surprises during construction. LRE's experience meant mapping these dependencies before breaking ground and proactive approach to project coordination.
Early Validation
The Wash opened after just six months from engaging LRE. Six weeks after opening the laundromat, early indicators began trickling in, validating David’s approach and business model.
"Every week gets busier. We have almost 20 reviews, all five stars," David reports. "People specifically mention the environment, the staff, how much cleaner their clothes come out compared to home machines."
Customer feedback reveals the model's strength: people will pay for value when the experience delivers with unwavering consistency. One customer gave David a high-five after learning about the mobile app payment system. "He said, 'This was actually fun.' When's the last time anyone called laundry fun?"
Building Beyond the First Location
The Wash isn't David's endpoint. In fact it’s only the beginning and serves as the crucial prototype for The Wash Laundry Company’s multi-location brand.
"This first location validates that our vision resonates with customers," David explains. "When approaching future landlords, we're no longer first-time operators. We have proven operations, actual financials, demonstrated market acceptance and credibility."
For professionals considering laundromat investment, David emphasizes three fundamentals:
Deep research pays off: "I spent months exploring the ins and outs of the industry, trying to understand what separates successful laundromats from failures.” Having a sound foundation before jumping in head first is crucial.
Real data should inform and support your decisions: Aside from the common variables like pricing strategy, equipment mix, and utility costs, a lot of other important factors can make or break a new laundromat business: foot traffic patterns, building infrastructure, competitive landscape, even your co-tenants. "You need quantifiable ways to evaluate locations, not just gut feel."
Specialized knowledge accelerates execution: "In six months, we accomplished what might have taken years piecing together fragmented vendors." Choose the right partner early to avoid getting stuck later on and get to a healthy, reliable revenue stream faster.
When looking at the foreseeable future of his new business venture, David envisions: "When people say they're going to the laundromat, we want them to say they're going to The Wash." Richardson’s newest laundromat proves that laundry facilities can transcend their traditional image when approached with strategic thinking, proper degree of care, and the right partner by your side to help execute your vision without compromise.