Business Bio: OLE Super Coin Laundry

By Bob Nieman, CLA Member posted 15 days ago

  
Bruny Costantino and George Gautreaux
OLE Super Coin Laundry
Allentown, Pa.

Before Getting into the Laundry Business…

Costantino and Gautreaux also own several daycare operations, as well as additional retail businesses.

Store Opening

May 19, 2017

Business Hours

OLE Super Coin Laundry is open 24 hours a day, seven days a week.

Staff

Four part-time attendants

Total Square Footage

4,500 square feet

Parking Availability

38 parking spaces

Lease or Own?

Costantino and Gautreaux have a 10-year lease.

The Building

The location was a former nightclub that was slated to be another daycare for the couple. However, after retooling another smaller self-service laundry in the neighborhood a year earlier, they enjoyed the fact that vended laundries give them the ability to run a business with just a few employees. As a result, when they remodeled the building – one side became OLE, and the other side will be a 3,500-square-foot restaurant, which is scheduled to open by the end of the year.

The Construction Process

The entire project took six months, including city permitting and final approvals, and it cost $550,000.

Turns Per Day

Three

Utility Costs

Utility costs represent about 14 percent of the store’s gross revenue, according to the owners.

Marketplace Demographics

The laundry is located in a heavily Hispanic urban neighborhood, which features approximately 60 percent renters.

Competition

There are five competing laundries within a one-mile radius of OLE Super Coin Laundry.

Payment Options

Coins only

Washers and Dryers

12 Primus 20-pound frontloaders, $1.50 to $2.50
7 Primus 40-pound frontloaders, $3.50 to $5.00
7 Primus 55-pound frontloaders, $5.00 to $6.50
4 Primus 80-pound frontloaders, $7.00 to $8.75
7 Primus 30-pound stack dryers, 25 cents for six minutes
9 Primus 45-pound stack dryers, 25 cents for five minutes
4 Primus 75-pound dryers, 25 cents for four minutes

Water Heating System

AO Smith BTH400A water heating system

Bill Changers

1 Standard Change-Makers MC300RL changer
1 Standard Change-Makers MC520RL changer

Laundry Carts

18 R&B Wire Products antimicrobial laundry carts

Folding Tables

8 Caco folding tables, with shelving

Flooring

A combination of tile and wood flooring

Lighting

LED bulbs

Beverage Vending

1 iVend beverage vending machine, 75 cents to $1.50

Snack Vending

1 iVend snack vending machine, 75 cents to $1.50

Televisions

4 55-inch flat-screen televisions

Wash-Dry-Fold Service

$1.00 per pound; 10-pound minimum

Children’s Play Area

The store features an 800-square-foot enclosed patio area outside, with outdoor carpeting and two large plastic climbers and slides.

Additional Amenities

• Detergent and other laundry products sold over the counter
• Free Wi-Fi access
• A Western Union location
• A U-Haul location
• An adjoining restaurant, to be open by the end of year

Finance Company

Eastern Funding

Distributor

Justin Tucci, Equipment Marketers, Cherry Hill, N.J., (800) 223-1376
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