Investing in a business takes a certain kind of dedication: a never-say-die attitude which inspires a person to do everything they can to ensure their business’ success. The same rule applies for a laundromat, which is a business that, although simple at a glance, can be improved and optimized in a variety of creative ways.
Take a look at these four business hacks to improve your laundromat and turn a survivable business into one that thrives:
Consult the Pros
The smartest thing an entrepreneur can do is seek the advice of someone smarter. To the untrained eye, your business could look like it’s running perfectly and without a single wasted minute or dime of productivity. Industry veterans, on the other hand, are able to spot areas for improvement that would otherwise go unnoticed. Enlisting the help of a consultant, or better yet, an open and friendly industry firm like http://cgilaundry.com/ can give crucial insight into the various ways that your business could boost its profitability.
Cut What You Can
Remember that efficiency is the name of the game, and that minimizing unnecessary costs can save your business a fortune down the line. Many laundromats feel the compulsion to pamper their clients with as many comforts as possible, and while this kind of initiative is a great sign of dedication, be wary of when your efforts prove to do more harm than good to your business.
For example, if a feature drains electricity and doesn’t directly contribute to your profits, you might want to experiment with shutting it off for a day or two and see how well your business does (though if you have an in-store television, it’s probably too late to get rid of it without inconveniencing your regular customers).
Keep What You Can’t Cut
When minimizing costs, don’t go overboard and do away with things that will be essential to your business later on. You obviously wouldn’t opt for cheaper, less reliable washers after investing in a setup from Continental Girbau, but should you opt to do away with the hassle of restocking your in-shop gumball machine?
There’s no hard and fast rule about choosing what extra features to keep, and while there are more detailed bits of advice out there, a good rule of thumb would be that if it generates profit for your business (like a snack bar, or a pay-to-play arcade), you should keep it.
Keep Your Staff Motivated and Happy
The last piece of advice I have to offer is the most crucial: remember that your business runs because of your employees, and that a set of motivated employees will be more likely to go the extra mile for your business. There are a number of ways to go about this, but for a business of the size of a laundromat, one of the simplest is getting to know your employees personally and do you best to get them invested in your business’ success.
You made a great decision by investing in a laundromat, and if it hasn’t paid off yet, the little steps you could take to improve it even further may be just what you need for that last nudge into outright success.