A laundromat business is a potentially high returning endeavor which does not require tertiary skills. Statistics indicate that some of the most successful laundromats are owned by former average income individuals such as teachers. Running a coin laundry business requires diligence in providing impeccable customer services in regards to the room’s atmosphere and the machines’ performance.
Kim Clarkson and Collette Clarkson began their coin laundry business in Colorado without prior experience. They revealed that they had to conduct in-depth research on the enterprise’s intricacies before launching a laundry space in the mall. Tom Leavitt is the owner of three laundries across Seattle, which he opened after traveling around the country to take notes of other businesses and attending the Coin Laundry Association conference in Chicago.
Tips to remember before starting a coin-operated laundry business
1. Select a convenient location
An excellent location will complement the business’ revenue generating schemes. It will offer parking spaces for clients, advertisement spots and visibility in the neighborhood. Competition from nearby laundries will not stifle operations with the right demographic placements. Read this if you need to buy a building.
2. Draft a prudent budget
A recurrent question from prospective laundry business owners of price is how much to start a laundry business. A startup laundry business often does well in an averagely sized room. It takes a vigorous owner to run a large-sized room due to the cost of operations incurred by the machines regarding power and repairs. A feasible budget will also be in line with the value of the lease. Avoid renting out a room in a building that will burn holes in the business pockets due to overpricing. Other attributes of the budget will be permit fees, washer hookup fees, equipment costs and construction charges.
3. Single out the equipment needed to start a laundry business
Opt for high-quality commercial laundry appliances such as LG and Maytag washing machines. Essential laundering equipment includes washers, dryers, pressing machines, steamers, and steam boilers.
4. Draft a maintenance plan for the business
The plan ought to include taxes, insurance plans, utilities, rent, marketing and repairs. High grade equipment from LG or Maytag will save on costs of repairs. Insurance is particularly vital in the face of natural disasters such as floods or a fire. A long-term plan will prove beneficial in the long run due to the elimination of miscellaneous expenses.
5. Nurture a welcoming environment
Create a theme for the store. It should accommodate both the young and the elderly, such as having an entertaining family-rated TV show playing and bright wall colors.
The day to day operations of a coin laundry business
Commercial coin operated laundry equipment require as much supervision as drop off laundries. An unmanned station could lead to running up operational costs from electricity. Laundry stores open earlier than most, at around six in the morning to cater to a wider net of clients. It is advisable to close the doors early in the evening at around nine to clear up the queued laundries. A lock system allows clients to let themselves out without letting anyone in.
How to empty the laundry machines
It is preferable to empty the machines on a daily basis to keep an accurate record of the business’ performance. Take the coins from each machine at a time to identify the most used. The strategy ought to help identify if clients prefer top loaders, front loaders or dryers.
Another important aspect is to ensure each machine is fully loaded with change coins. An empty machine will discourage clients from using the store. The change can run out in a day and should be refilled every night. A vending machine is equally crucial as not all customers carry their own soap.
A coin laundromat is an easy business to launch and maintain with the right guidelines. It is popular among the middle and lower class citizens but is gaining fame in the upper-middle class. This is because laundries save on more than one house amenity such as water and electricity. A laundry’s biggest facet is its customers. Focusing on the customer experiences will yield high and consistent returns.
