So, you've decided to flip a laundromat. Congratulations! In our previous post we talked about a few guidelines entrepreneurs should take into account when purchasing an existing business. Today, we are going to talk about how to increase profits.
As we mentioned last post, it's important to purchase a laundromat that does not have brand-new, top-of-the-line equipment already in place. Why? This drives up the value and comes with a pretty hefty asking price. Instead of purchasing a business with new equipment, upgrade after you've purchased. It's important to have properly working washers and dryers as soon as you open the doors under your ownership. The main reason for this is to ensure your customers don't come in and see that equipment is out of order or in need of repair. Secondly, investing in new machines will only bring in more profits. They are energy-efficient and can save the customer time and you money.
Before opening the doors as a new owner, make sure your facility is spotlessly clean. This is important for one reason, alone – people do not want to clean their clothes in a dirty laundromat. A clean environment is the key to a successful business.
Also, be sure to offer your customers a safe place to wash their clothes, as well. Consider surveillance cameras, bright lights inside and outside the building, with as much natural light flowing in as possible. This will help customers feel safe and secure.
Speaking of bright lights, this is a factor to consider, all on its own. Of course, for safety reasons your laundromat should be well lit. It should also be nice and bright so customers are able to see what they're doing. It's difficult to fold clothing in the dark. Customers also want to be able to see whether or not their clothes are clean as they come out of the machine.
It's possible that one of the reasons this business was performing poorly with the previous ownership was because of bad customer service. Be sure to focus on the guests of your laundromat first. Little things like helping them with their laundry basket, offering them cold water for free or giving them refunds as soon as they need them is a small, yet successful, way to gain their trust early on.
We hope these tips help you get your flipped laundromat up and running in a profitable way as soon as possible!
Affordable Laundromat Equipment in Greenville, SC | T & L Laundry Equipment
T & L has been in operation for over four decades. 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. Our products offer the following advantages:
- Easy to install and use
- Saves washing and drying time
- Saves money
- Saves energy
- Easy to clean
- Comes in a variety of sizes and capacities
If you’re ready to talk with T & L about purchasing washers or dryers, contact us. We are here to help you with all your Speed Queen Laundry equipment needs. Don’t hesitate to call with any questions or concerns you might have about our products. We hope to work with you soon, to help you start saving time, money and energy with the best laundromat equipment in Greenville, SC.