Coin laundry shops - the new money trap?

[CLW]

First it was coffee shops, then weed shops, now coin laundry to burn your money and copy each other?

 

I think for four years, there has been one larger coin laundry shop around my neighbourhood. 

In the last six months at least five more shops have opened or are about to open. With certainly more to come.

Aren't people doing a business plan and market research before opening a business?

And I thought banks have been stricter for business loans?

Seems to me like another way to burn money?

Or is it money laundering (pun intended 🤣)

[CharlieH]

Agreed we've had 3 open up in the last 6 months

[BritManToo]

Same here, I cycle past 4 every morning, but I'm near the university, lots of student apartments, so maybe enough customers to keep them all going.

[howerde]

1 hour ago, CLW said:

First it was coffee shops, then weed shops, now coin laundry to burn your money and copy each other?

 

I think for four years, there has been one larger coin laundry shop around my neighbourhood. 

In the last six months at least five more shops have opened or are about to open. With certainly more to come.

Aren't people doing a business plan and market research before opening a business?

And I thought banks have been stricter for business loans?

Seems to me like another way to burn money?

Or is it money laundering (pun intended 🤣)

No business plan or any research, the Thai way if you see a new business copy it, all they will end up doing is seeing their income drop with each new shop, in turn equipment gets old no money for repairs etc

I noticed  near where i am 3 opened, this is a franchise or someone opened 3 in a small area, they have equipped all 3 with cameras, open 24 hours no staff on site any issue and you use line to contact and someone turns up to sort out, this does seem to have been thought out

[CLW]

And apart from a single person household, the coin laundry are expensive. 

I just calculated, we are three persons and average doing 3 machines per week. 

With those coin laundry front loaders it is 60 THB per cycle. That would be 9,360 THB per year. Enough to buy a front loading washing machine, that normally should last longer than 1 year. 

[Quentin Zen]

This would make for some fun AI content.  Put in all your white clothes, and they all turn green.  No defamation, just get people to think.  Coin laundry, all clothes ruined.  Yea, it's a scam.   Probably many farangs have their hand in these.   Soon car washing machines next to every Amazon Cafe.  

[scubascuba3]

Of course way too many, rarely do you get Thais doing anything original

[JBChiangRai]

It’s the Thai way to follow the herd, especially if it requires low or zero investment.

 

Worst hit are farmers. The government says they should plant bananas, they all do it and the price of bananas collapses.  It happens every few years.

 

The only business worth a foreigner doing is something requiring high investment or you’re competing with Somchai who is happy if he makes 500 baht a day.

 

And as the saying goes, if you want to make a small fortune in Thailand, start with a big one.

[KhunBENQ]

31 minutes ago, CLW said:

And apart from a single person household, the coin laundry are expensive. 

And they are expensive if you have little laundry to do and can't fill them. Most machines start at 10 or 14 kg.

I had tried this when in Pattaya. Some shirts and shorts. Better stay with aunties wash, rinse, iron.

[KhunBENQ]

30 minutes ago, Quentin Zen said:

Soon car washing machines next to every Amazon Cafe.  

The next 'big thing". DIY car wash. They spring up like mushrooms. Some of terrible quality.

[Stocky]

It's just a new and pun-tastic way for crooks to launder their money.

[impulse]

If you want to see what's coming next, visit one of the SME Exhibitions they throw in BITEC, QSNCC, IMPACT, etc.

 

As far as business planning, I'm not sure how you'd be able to forecast the competition in a relatively new arena like coin-op laundries.  Pre-Covid, I rarely saw one while working and living in Bangkok.  Now, they're all over.  I'd be lying if I claimed that I saw that coming.