If you’re hoping to learn how to succeed in business without really trying, I’m afraid you’re barking up the wrong tree. Laundromats require hard work and dedication, and like most small businesses, they don’t typically turn a profit in the first year. So as you prepare to open your coin-operated laundry business, look to the owners of established laundromats for wisdom if you want to learn how to succeed in the laundry business. To help you get started, we’ve assembled a list of some of the most common advice given by owners of successful laundromats.
How to Succeed in the Laundry Business
Choose your location carefully. A bad location is bound to result in a struggling business. Take into account demographics and your competition as well as parking and visibility.
Stay on top of routine maintenance. Minor maintenance won’t just keep your machines running smoothly; it will also prevent major breakdowns. Plus, you know that your customers dread seeing “Out of Order” signs.
Clean and update your store’s appearance. Over time, your store will become worn down through regular use. Don’t neglect repairs, and consider updating the lighting, floors, walls, chairs, etc. to please your clientele.
Offer great customer service. If your employees are rude or poorly trained, your customers will become frustrated and they may decide to frequent another laundromat. In fact, they might even vent their anger on a review site like Yelp, causing potential customers to turn away as well.
Work with a distributor. Why wouldn’t you take advantage of the services and expertise offered by a reputable distributor? They can assist you with market analysis, design and layout, repairs and maintenance, and essential supplies. Plus, they will offer support like a partner, using their years of experience to lend you helpful advice.
Don’t treat your business like an investment. A coin-operated laundry is a business first and foremost, so don’t treat it like an investment that you can manage from afar. Be involved as well as invested, and pay attention to the details.
Be realistic with your finances. First of all, don’t overpay for your store, because this will cause immediate anxiety and you may struggle to break even. Next, carefully considering your pricing strategy so that you can cover your costs, make a reasonable profit, and stay competitive. Finally, keep a close eye on your finances and adjust as necessary.
Advertise. How will anyone know you exist if you don’t advertise? Use eye-catching signage, hang posters, hand out flyers, and advertise online.
Embrace modernity. To succeed in the long run, you will need to reinvest in your business by updating your appliances and choosing energy-efficient washers and dryers. Although this may cost more upfront, it will be worth it in the long run.
Ready to open your doors? Before you do, be sure to check out Laundry Solutions Company, a full-service provider of premium vended, on-premises, and multi-housing commercial laundry equipment. Since 1976, we have been providing exceptional sales support, laundry design services, commercial laundry equipment (and leasing options), and laundry equipment service and parts. To learn more about our products and services, please give us a call at 800-383-9274 or contact us online. We look forward to hearing from you!