After reading Hakrak's thread on laundomats, and seeing some accurate and some inaccurate statements, I thought I would post what I have learned through my dads 2 laundromats.
1. it often makes sense to buy used rather than building up new. This is due to people poorly managing their laundromats after investing thousands in equipment. However there is usually somewhat of a customer base to build off of and spread the word about the great changes you will be making. The second place my dad bought made in 9 months what the previous owners were making in 12 during his first year of ownership.
2. if you want to start your own, talk to dealers about buying used from bankrupt laundries. great source for pennies on the dollar equipment. Yes you will probably have to do some replacement parts, but usually worth it. FYI- My dad's preference new or used is dexter.
3. even though your customers will treat your laundry like it is their own personal pigsty(imagine fecal matter smeared all over the public bathroom just for starters), they value a place that is kept clean. Some customers drive 15-20 miles passing 2-3 other laundries to come to my dads. From what we have observed, many have thier places cleaned a few times a week, my dad has his cleaned daily.
4. be quick to refund- yes you will give away some money to folks who do not deserve it, but the legitamate folks who need a refund will greatly appreciate your no hassle refund policy.
5. invest in a great video security system- you will need this to capture streakers and theives.
6. if your can do it safely, be open 24 hours. The shift workers at the local factories will be loyal to you.
7. have things that keep people busy and make you money like megatouch game system and car vacs. Another profit center my dad added was a purified water machine. He also tried to ad a coinop single bay carwash, but the county shut him down. also have cable tv for people to watch
8. most coinop machines should be paid back in under 2 years, if not, change some things.
9. get extractors- people love them
10. get one or two of the biggest machines your dealer carries, people like being able to do all their laundry in one load. However, the elderly folk do not need the big ones, so get small ones as well.
11. promote- my dad gives away a bunch of turkeys each thanksgiving, people love it.
12. you can ad wash/fold service and drycleaning dropoff, however this will require you to need employees, my dad opts not to
13. my dad does stop by each day to socialize with the clients, make sure the place was cleaned well, and make certain no repairs are needed.
14. you can be the high priced leader in your erea, you do not need to be low costs. think if you raise your price 10% and lose 10% of your customers, you probably lost 50% of your complaints. Folks that are the quickest to leave over price are usually the quickest to complain. MY dad is the high price leader in the one town. So far he has driven out of business one established laundry, and another has opened and is not doing well. One other is surviving in his shadow.
15. decorate for your area- our area is somewhat rural, so my mom but a bunch of plants and country stuff around. Down in New Jersey at a few we went to see, mirrors and sterility seemed to be the fad.
16. I can not stress this enough, keep your place clean and well maintained. In case I was not clear, keep it clean.
17. oh yeah, make sure its clean.
Hope that helps, I will answer any questions anyone may have if I can.
1. it often makes sense to buy used rather than building up new. This is due to people poorly managing their laundromats after investing thousands in equipment. However there is usually somewhat of a customer base to build off of and spread the word about the great changes you will be making. The second place my dad bought made in 9 months what the previous owners were making in 12 during his first year of ownership.
2. if you want to start your own, talk to dealers about buying used from bankrupt laundries. great source for pennies on the dollar equipment. Yes you will probably have to do some replacement parts, but usually worth it. FYI- My dad's preference new or used is dexter.
3. even though your customers will treat your laundry like it is their own personal pigsty(imagine fecal matter smeared all over the public bathroom just for starters), they value a place that is kept clean. Some customers drive 15-20 miles passing 2-3 other laundries to come to my dads. From what we have observed, many have thier places cleaned a few times a week, my dad has his cleaned daily.
4. be quick to refund- yes you will give away some money to folks who do not deserve it, but the legitamate folks who need a refund will greatly appreciate your no hassle refund policy.
5. invest in a great video security system- you will need this to capture streakers and theives.
6. if your can do it safely, be open 24 hours. The shift workers at the local factories will be loyal to you.
7. have things that keep people busy and make you money like megatouch game system and car vacs. Another profit center my dad added was a purified water machine. He also tried to ad a coinop single bay carwash, but the county shut him down. also have cable tv for people to watch
8. most coinop machines should be paid back in under 2 years, if not, change some things.
9. get extractors- people love them
10. get one or two of the biggest machines your dealer carries, people like being able to do all their laundry in one load. However, the elderly folk do not need the big ones, so get small ones as well.
11. promote- my dad gives away a bunch of turkeys each thanksgiving, people love it.
12. you can ad wash/fold service and drycleaning dropoff, however this will require you to need employees, my dad opts not to
13. my dad does stop by each day to socialize with the clients, make sure the place was cleaned well, and make certain no repairs are needed.
14. you can be the high priced leader in your erea, you do not need to be low costs. think if you raise your price 10% and lose 10% of your customers, you probably lost 50% of your complaints. Folks that are the quickest to leave over price are usually the quickest to complain. MY dad is the high price leader in the one town. So far he has driven out of business one established laundry, and another has opened and is not doing well. One other is surviving in his shadow.
15. decorate for your area- our area is somewhat rural, so my mom but a bunch of plants and country stuff around. Down in New Jersey at a few we went to see, mirrors and sterility seemed to be the fad.
16. I can not stress this enough, keep your place clean and well maintained. In case I was not clear, keep it clean.
17. oh yeah, make sure its clean.
Hope that helps, I will answer any questions anyone may have if I can.
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