Entrepreneurs enjoy operating laundromats because the businesses generate rather consistent revenues. People who do not have washers and dryers at home or who cannot afford to repair their machines utilize laundromats. While laundromats require sizable start up costs, they are offset by low accounts receivables (money owed by customers), as clients must pay to receive services.
Determine an operating schedule and price structure. Peak hours for a laundromat typically are during the evenings or weekends. Consider opening early and closing late to attract a regular group of customers. While you can operate during any hours that you prefer, you should compare your schedule against local competitors. Since machine rates play an important factor, especially for price conscious clients, carefully set your fees or customers will select another location.
Inspect machines, and complete maintenance repairs in a timely manner. Machines generate earnings and handle large loads on a daily basis. Develop a method to identify and temporarily stop use of malfunctioning machines. For increased efficiency, establish a relationship with local repairmen or a repair company.
Assess your staffing needs. At least one employee should be at the laundromat at all times to supervise customers, restock vending machines and ensure that the place is tidy. You must decide how to collect money from the machines. If you hire an employee or manager to collect money daily, you must implement controls to address potential employee theft. For example, you could install security cameras, which would help you determine if any employees are stealing store funds. You also could hire a noncommissioned security guard to patrol the property.
Understand weekly, monthly, and annual expenses, including staff, utilities and equipment maintenance. You should understand how much money must be earned in order to break even or cover all expenses. For instance, review your utilities bills and determine if new equipment would create cost savings. Cultivate loyalty by investing in marketing. You will spend less money on traditional forms of advertising if the laundromat is located in a highly visible area that sustains a lot traffic. Create a banner to highlight promotions like reduced rates on select days so that you attract new clients.
Purchase folding tables so that customers can fold their clothes and a change machines so that dollar bills can be changed into coins. You could sell laundry supplies like detergent or fabric softener through either a dispenser or an employee. To entertain customers while they wait, consider providing magazines, vending machines, and televisions.
You should ask for customer feedback like through a comment box or by providing an email account. Feedback can help you identify customer concerns.
Post signs that describe you liability or lack thereof, such as for unattended belongings (e.g., clothes, cleaning supplies). Also identify any prohibited actions like smoking inside the laundromat.