Gen-Z Founders Turn Brooklyn Laundromat into Unlikely Success
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The Boring Business Boom: Separating Hype from Reality
In recent years, the conversation around “boring businesses” has gained traction. This phenomenon, popularized by investor and entrepreneur Codie Sanchez, involves revitalizing existing industries rather than pursuing the next big innovation. At its core, this shift in thinking recognizes value where it already exists – in mundane, established businesses that have been overlooked by younger generations.
The Brooklyn laundromat Launderette, founded by 25-year-old Ireland McCaughey and her business partner Ben Razin, exemplifies this approach. By repurposing a traditional laundromat into an inviting social space with communal seating and work tables, they’ve redefined what it means to provide a laundry service. This risk-taking strategy has paid off in unexpected ways – Launderette now attracts commercial clients from hotels and Pilates studios, as well as brands looking for unique event spaces.
However, beneath the surface of this enthusiasm lies a more nuanced reality. According to Scott Shane, professor of entrepreneurial studies at Case Western Reserve University, the number of actual deals involving “boring businesses” lags far behind the hype. Americans filed over 5.62 million new business applications in 2025, but BizBuySell recorded fewer than 10,000 completed business sales that same year.
Codie Sanchez suggests that people have become more aware of opportunities hidden within established businesses. “The internet got tired of the same story,” she says. This shift is undeniably compelling, but it’s also worth considering the implications for entrepreneurship as a whole. By focusing on improving existing businesses rather than building new ones, entrepreneurs may be missing out on true potential for innovation and growth.
Sanchez argues in her forthcoming book Own or Be Owned that the biggest opportunities often lie not in creating something entirely new but in refining what already exists. The rise of “boring business” enthusiasm serves as a reminder that success is rarely about reimagining from scratch. It’s more often about recognizing and augmenting what’s already working – taking the strengths of established businesses and amplifying them for a modern audience.
Launderette demonstrates this approach can yield surprising results when applied with creativity and vision. The business has become a hub for commercial clients, leveraging its unique space to offer a service that goes beyond traditional laundry facilities. This success is a testament to the power of reimagining the mundane. By recognizing value in unexpected places, entrepreneurs like McCaughey and Razin are rewriting the rules for what constitutes a viable business venture.
As we move forward, it’s crucial that we balance enthusiasm with pragmatism – acknowledging both the potential of “boring businesses” and the challenges they pose. The true test of this movement will lie not in its ability to generate excitement but in its capacity to drive real results. Only time will tell whether the “boring business” boom is a fleeting fad or a lasting shift in the entrepreneurial landscape.
Reader Views
- CSCorrespondent S. Tan · field correspondent
The Boring Business Boom's unintended consequence: commodification of community spaces. Launderette's success is undoubtedly impressive, but what happens when more entrepreneurs follow suit, transforming laundromats and other mundane businesses into trendy social hubs? Are we witnessing the erosion of public space, as communal areas become profit-driven amenities catering to a specific demographic? It's crucial to consider the broader implications of this trend beyond its initial appeal. As entrepreneurs prioritize repurposing existing spaces over building new ones, are they inadvertently creating homogenous environments that displace authentic community character?
- EKEditor K. Wells · editor
The hype surrounding "boring businesses" is undoubtedly enticing, but it's crucial to scrutinize the actual numbers behind this trend. Codie Sanchez's enthusiasm for revitalizing established industries is laudable, yet Scott Shane's data suggests a significant gap between awareness and action. Moreover, what about the small business owners who are being priced out of these "opportunities" by eager investors? We need to consider not only the potential returns on investment but also the human costs of gentrification.
- CMColumnist M. Reid · opinion columnist
The fervor over "boring businesses" is indeed intriguing, but let's not get ahead of ourselves. The real challenge lies in executing this strategy at scale. As Launderette's success demonstrates, repurposing an existing business requires more than just a fresh coat of paint and some trendy decor. It demands a deep understanding of the underlying economics and a willingness to adapt to changing market conditions. Can Codie Sanchez's vision for revitalizing overlooked industries really be replicated across the board? Or is this just a fleeting fad, driven by hype rather than hard evidence?