Laundromats can be an easy way to make money without putting in a lot of time, but not all of them are successes. It may not be the fault of the owner; it can be because of several different things. The recipe for a successful laundromat is a mixture of location, demographics and the quality of the facility and coin operated laundry equipment in South Carolina.
We’ve compiled a list of eight reasons a laundromat could fail.
The Main Reasons Laundromats Will Fail
1. Poor location
The number one factor in a failing laundromat is location. If it is located in an area where no one needs the service, or if it is in an area that is considered dangerous, it is not going to do well no matter what the owner tries. A laundromat needs to be in area with people nearby who will use it. No one wants to drive across town or to a remote location to do laundry.
2. Not the right kind of residents nearby
A laundromat near an apartment complex or college dorm rooms should do well because those are the demographics that often need laundry facilities. If there is a lot of foot traffic throughout the area and it is convenient to get to, it will be a bonus. There was a myth that they did well in low income areas, but that is not always the case anymore.
3. No parking
Parking can be just as important as location. No one wants to carry their laundry too far to get to the front door. Ideally you want spaces out front. If they are too far away or not available because of neighboring businesses, then you may lose customers.
4. Old equipment
Older equipment can work just as well as newer models, but if it looks beat up and rusty, a customer may think twice about putting their clothes in it. Keeping the outside as well as the inner workings of equipment well maintained can help the visual appeal of your laundromat. Also, if the equipment is old and breaks down often, you will gain a reputation for not having washers and dryers that work.
5. Prices are too high
You have to consider all of your costs before deciding how much to charge, but you don’t want to price yourself much higher than the competition. If your equipment allows it, you can vary pricing depending on the time of day.
6. Cost and length of lease
If your lease is going to be up soon and you’ve just invested in this business, you may not have time to make your money back before you have to renegotiate a lease, or worse, move. Before signing a lease, make sure you are getting a fair price on sq. footage and that the lease will be valid for at least eight years.
7. Too much competition
If your laundromat is in an area that has become overrun with other laundromats, the saturated market is going to cause you problems. Keep that in mind before purchasing a business. It is important to understand the market, the population in that area and the traffic flow to the area.
8. Rude staff
If you have people working in your facility, make sure they are trained properly to give good customer service. When the boss is away, make sure the staff doesn’t “play.” A laundromat that has rude or unprofessional staff won’t get repeat business.
Affordable Coin Operated Laundry Equipment in South Carolina
Your business doesn’t have to fail if you work with a reputable coin operated laundry equipment in South Carolina dealer. Call the experts at T & L Equipment so they can help you make the right choices for your laundromat. They have been in business for 40 years, so they know a thing or two about the business.
1 Response