What a great American business, a Laundromat. It is something that is very useful to many American’s today, however location and marketing play their roles in how successful that your endeavors to make a profit with this type of business will be. Let us look at some of the factors that will guaranty a successful business venture.
Let’s first deal with location. If you are looking at an existing laundromat business that is for sale, try to talk to the owner to get an idea on business volume. You can also ask what works and what doesn’t work. Also ask questions that relates to prices and hours of operation. Here is where I must give away a trade secret. Franchising is the best kept secret of the 21st century. If you find a laundromat business for sale but it is not doing well, think of buying a franchised cleaning service. That way you can reopen the existing laundromat under the well branded name of the franchise. With a little paint and elbow grease, a couple of new magazines and the new “brand name” over the door, you transform a failing business to a profitable one.
Now let’s deal with marketing or promoting and selling your services. Do you have any competitors in the neighborhood that are doing the same things as you? One thing you could do is cut the price of your service in half for the 1st month or two. This is where owning a franchise really helps. Marketing and Advertising are two of the highest cost incurred in a laundromat business until is well established. And existing laundromat business could be on sale for the following reasons.
#1 Business is good, owner is retiring!
#2 Co-owner passed away and partner no longer wants to continue!
#3 Adjustable rate mortgage (ARM) recently adjusted up, and the scheduled payment is too high to continue without refinancing. (This is a great opportunity to buy a business and save money.)
A laundromat just isn’t a laundromat without the perks. Well, just think about it for a minute, what makes going to your laundromat worthwhile? A laundromat business is the perfect opportunity to perk up the neighborhood with; drop-off service, self serve dry clean machines, open 24 hours, free coffee for patrons, vending machines, peaceful environment, shirt/blouse service for business people, bulk dry cleaning service and let’s include a few non-violent video games.
If you are the thinking of buying a laundromat business, with proper planning it can become a real treat for the owner and neighborhood. Not to mention the usefulness of just basic functionality for the community it servers. Additionally, you must look at having a clean place with machines that are clean and work properly and plenty of off street parking.
Some other ideas on how to capitalize on your Laundromat Franchise, is to play music all day. You could add a small store or maybe in the back office do custom T-shirt printing or business cards. Ideas are plenteous, it just depends on the amount of space you have. Additional business can be run from one location. See what is missing in your community and double your profits. But remember, franchising is the best kept secret of the 21st Century!
Edward Dean is an accomplished website developer and author. To learn more about laundromat-for-sale [http://yourbusinessfranchising.com/laundromat-for-sale] visit Your Business Franchising [http://yourbusinessfranchising.com] for current articles and discussions.
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