Self-service laundromat offers cheap clothes washing — and investment opportunity

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A self-service laundromat has opened in the old town near the temple.  It offers cheap 24-hours washing and drying of clothes, but also an investment opportunity. For $388,000 you can set up your own laundry, the franchisor says.
First what’s of interest to homeowners and flat dwellers and others with lots of laundry to do. The small shop with five washers and five dryers is located on the corner of Tak Lung Back Street 100 yards from the Tin Hau Temple. During the opening promotion it’s $5 to wash clothes (up to 23lbs) and $10 to dry them. You have to pay with Octopus. There are no staff, so you have to figure out how to operate the machines yourself.
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The company behind it — see www.laundryyup.com — says it is the sole distributor for LG commercial laundry equipment in Hong Kong.  It invites people of an entrepreneurial bent to invest in their own laundromats in whatever locations they choose. On the website it says you can start your own business for $388,000. Staff are needed only for cleaning and small rented spaces are suitable. The franchisor says it provides operational backup.

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