Karl Hinrichs is president of HK Laundry Equipment Inc. in Armonk, N.Y. HK Laundry Equipment and its predecessor, HK Sales, have been in business since 1967, serving both the coin and OPL laundry industries in New York and Connecticut.
Hinrichs stated in the business carrying his father’s toolbox, and once he was old enough to drive, he was servicing and collecting for coin laundries. After college and some time as a research chemist, he returned to the laundry industry in 1980 and grew from from technician to salesman to manager to owner of HK Laundry Equipment.
Hinrichs lives in Armonk, N.Y., with his wife and three boys. His interests are photography, sports and fundraising (usually on his recumbent bicycle) for worthy causes, including MS and ALS research. He is a long-time member of the Coin Laundry Association (CLA) and owns and operates several coin laundries.
ARMONK, N.Y. — My previous articles showed that from 1997 to 2010, the average washer vend prices stayed ahead of inflation, but fell behind the cost of natural gas.
Our overhead costs should be used to set our base vend price, but any adjustments to vend price should be made with utility costs in mind.
ARMONK, N.Y. — Before you focus on the headline, let me ask you a few other questions: Why did you enter the Laundromat business? How much money did you invest? What was your expected rate of return on your initial Laundromat investment (ROI)?