The main reason why so many people invest in running a laundry business is because it’s a relatively safe and lucrative venture. However, its appeal is also one of the reasons why so few laundry businesses make it big –the safe and simple route can only take you so far.
Successful entrepreneurs know that a business hinges on its owner’s ability to make calculated decisions and accept risks for the sake of higher returns. The next time you find yourself looking at a stagnant rate of profit, consider these four examples of how you could take your business to the next level:
1. Go for Smart Technology
The first thing that a customer looks for in their laundromat is convenience, and nothing drives them away like faulty equipment and long lines. Even assuming your business meets the bare minimum for convenience, pushing things a step further will only improve your bottom line.
This is where the revolution of smart technology comes in. Businesses like http://cgilaundry.com have been hard at work introducing the market to commercial washers that can monitor the progress of your wash cycles and save commonly used settings to make using their equipment as quick and easy as tapping a screen. Customers are sure to remember your laundromat as the go-to spot for machines with the highest levels of functionality.
2. Design Saves Lives (and Profits)
Investing in top-of-the-line equipment from manufacturers like Continental Girbau is only one of many steps you could take towards making a strong impression with your clients. Another equally important option? Invest in great interior design.
You could try your hand at revamping your store’s interior, or better yet, you could enlist the help of any of the hundreds of professional consultants. Take a good look at your color scheme, and consider how best to improve the ergonomic flow of your operation. Your goal should be to raise both the quality of your store’s aesthetic design, as well as the convenience experienced by each customer that steps foot in your establishment.
3. Go the Extra Mile
Laundromat owners underestimate the importance of keeping customers happy. While everyone needs to get their laundry done at some point, nothing obligates your customers to choose your business if more enjoyable alternatives exist.
Investing in extras and amenities can spell the difference between being a dreaded chore and being a happy break from the harrows of daily living. You could easily be the laundromat that airs each of your city’s big games, or the place where you could kill time playing video games while waiting for the laundry to finish. Japanese laundromats have the right idea: if you spoil your customers (within a reasonable budget, of course!), they’ll be more than happy to talk about you and recommend that their friends see you for their laundry needs.
The main point behind these three bits of advice is timeless: keep your customers happy, and make doing business a pleasure. When you can use a keen business acumen to provide a unique and value-adding service, you’ll find that the money comes naturally.