How to Operate a Laundromat
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Even though the laundromat business is self-service, it doesn’t run by itself. There are several things a laundromat owner will need to take into consideration in order to ensure the business is operating efficiently and effectively. Below are a few factors as it pertains to operating a laundromat business.
Employees
Consider whether or not the laundromat will be attended or not attended. Some laundromats do not have an attendant present. Others have someone on-site to clean the store, assist the customer if she or he has a problem, or manage a fluff and fold service. If the laundromat will have an attendant, then you’ll want to consider whether or not the business operations can support an employee (part-time or full-time). After all, the goal of owning a business is not to buy yourself another job.
This is one of the most important areas for a laundromat owner. Why? Marketing is one of the most important activities that can not only bring in new customers, it can also increase existing laundromat customer loyalty. Typical marketing activities could include special coupons to residents in the area, promotional contests in the store for prizes, incentives for customer referrals, co-operative advertising with other nearby retail businesses, and just about anything else you can imagine.
Security and Surveillance
The safety of your business and your customers is of paramount importance. It is for this reason, I equip all my laundromats with a surveillance equipment. I want to make sure I record whatever happens inside my stores. A surveillance system will help you monitor any potential criminal activities such as someone who is looking to steal the money out of your change machine. In addition, you want to make sure your customers feel safe and comfortable in your store. A surveillance system is one way to provide the customer with peace of mind.
Laundromat Equipment
A critical part of business operations is making sure your laundromat equipment is operating at peak performance. The commercial washing machines and dryers need to work. On this note, here’s a tip. Most people new to the laundromat business think they need to service the machines themselves. Sure, you could learn how to do this and save some money. However, I like to ask myself, “How much is my time worth?” Once I go through this exercise, I know it is actually cheaper for me to hire a professional to service the laundromat equipment because they can complete the work order in less time than it would take me (and cost less when factoring how much my time is worth).
Bookkeeping
This is another area where most laundromat owners fall short. They fail to keep an accurate set of financial records since this business is an all cash business. As a business owner, you must keep good records so you know if your business is profitable or not. If you’re not comfortable maintaining this kind of information, get help from a professional bookkeeper. This will also help you when it comes time to prepare your business tax returns too!
Amenities
This is one area where you can differentiate yourself from other laundromats in the area. Personally, I like to offer my customers free wireless Internet service. Other amenities include ATM service, a fluff and fold service, and vending machines, which also offer ancillary income for a laundromat business.
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About Brian Brunckhorst
Brian Brunckhorst is one of the top experts on laundromats. He is dedicated to teaching entrepreneurs how to find, evaluate, analyze, and buy a coin laundromat. Brian is also the author of the best-selling eBook, “Secrets of Buying and Owning Laundromats”, and the Laundromat Teleseminar System.
