It is a new year and you want to start fresh with new goals in mind and grow, grow, grow. Here at T & L Laundry Equipment we understand the importance of meeting those goals in your business. Whether you are a new laundromat owner or getting ready to open another location, we are excited to put our over 40 years of vended laundry experience to work for you. If your plans for 2017 include new commercial coin operated laundry equipment in Raleigh, NC, folding tables, laundry carts or seating - make T & L your first call and avoid these common budgeting pitfalls in your business this year.
Avoid Making These Budgeting Mistakes in 2017
- Make sure you plan ahead.
Not having set plans for the future will keep you from success. Your goals can be as simple as setting up routine maintenance and keeping money from your weekly or monthly profits to go towards that. Make sure that your business plan reflects your goals and that there is always growth involved.
- Under pricing.
Not knowing what items cost in your industry can really set your budget back. Let's say this year you plan on replacing all the dryers in your shop, but the prices you used to budget are from 3 years ago. You will most likely be short on your budget and will either end up buying less than you need, a product you didn’t want or having to take money from somewhere else to cover the costs. Most companies have a price increase in the beginning of the year so make sure you get an updated price list from your suppliers. This also goes for your prices. As the market prices rise you need to raise your prices to maintain a profit.
- Overspending.
Many people think that if the money is there you should use it. Having a small business you always have to make sure that you have something in your back pocket to keep things afloat if you have a bad month. Knowing exactly what your budget is and what your expenses are will help you stay within the safe margin. You might feel compelled to buy more equipment or to add on to your property, but you have to be well informed on what it is you want to do and if your business can really afford it. Make sure you have regular maintenance checks on your machines to see if they are wasting water or need service because having to replace them could be very pricy.
Budgeting for big and small areas of your business will make sure you are not caught off guard when something comes up. This also helps you measure your growth. See our previous posts for more on setting goals for your business and managing your energy costs in your laundromat this year. If your energy costs have you feeling the pinch, it may be time to upgrade your equipment. Give our dedicated staff a call and find out about extensive Speed Queen product line up. With most models carrying an energy star designation, now is the best time to upgrade your equipment and your customers's experience. Lower water usage, shorter cycles and extended warranties take the worry out of your bottom line.
Want to read up on more budgeting mistakes you can avoid? Click here. Re-imaging the look of your business this year? Come by and see the latest options in seating, ergonomic folding tables and laundry carts for your business. Our over 40 years of experience is waiting to help you reach your goals in 2017. Keep reading to see how T & L Laundry Equipment can help!
Affordable Commercial Coin Operated Laundry Equipment in Raleigh, NC At T & L
If you're looking to update your washers and dryers, consider working with our vended laundry equipment company! T & L has been in operation for 40 years. Within that time, we've worked hard to offer the best machines for the best prices. We believe in our products and are excited to share them with you. The benefits you’ll gain from trusting our washers and dryers are incomparable.
From replacing old units to helping you build a new facility, our years of experience and knowledge can help you make the right choice for your business. Our solutions are customized based on your business’ needs. We strive to provide excellent service and support in the commercial laundry industry. We can even help you finance your laundromat. Give us a call today to learn more about the best commercial coin operated laundry equipment in Raleigh, NC.
