If you’re looking for a new business to start, laundromats are a perfect place to begin. The laundry industry has a value of $14.4 billion, and that number won’t go down unless everyone starts doing laundry in their homes. The question is, do you know how to start a business in the laundry industry and make it successful?
If you’re planning to open a new laundromat, there are some essential things you need to know first. Keep reading to learn how to open a local laundromat and make it successful.
Plan Your Budget
Unlike other businesses, there isn’t an average price for opening a laundromat. You have to factor in your location, type of laundromat, technology, business size, and several other things. That means you need to consider your budget before you start your company.
The chances are good that you already have a limit in mind when it comes to your budget. Explore how much your rent is and the cost of all your equipment. Knowing these numbers can help you create a budget to start your new business.
Find the Right Location
A laundromat won’t be successful in any location. You won’t get any business if you purchase a business space near the suburbs where everyone does laundry at home. However, an area next to many apartment buildings will see a lot of business.
Look into the areas you plan to operate and find a spot where people can’t do laundry at home. As long as you don’t have too much competition in the area, the chances are good you’ll get some business.
Create Your Business Structure
Once you figure out where to place your laundromat, the next step to becoming a small business owner is to create an actual business. It’s hard to do this without creating a business structure, so you’ll need to file some paperwork with the government.
There are several business types, so determine which one works best for you.
Give Customer Options
A laundromat can be much more than a location with laundry machines these days. With technological improvements, you can provide many features to your customers.
Take payments, for instance. People usually don’t carry around cash anymore, so it’s hard for people to pay with change. However, a mobile payment option can increase your customer base and make life easier for your customers.
Check out this article to learn more about mobile payment options.
Market Your Laundromat
While you may get some foot traffic from people passing by your laundromat, it may not be visible to everyone. To get the most amount of customers, you’ll need to advertise your location.
There are a limited number of people who are your ideal customer, so you don’t need to go overboard. Look into your local advertising options to find a cost-effective way of attracting people to your laundromat.
Now You’re Ready to Open a New Laundromat
While a laundromat isn’t the most complex business to run, it’s still easy to get things wrong and end up failing. That’s why you need to do everything you can to open your new laundromat the right way. Use the guide above to start your laundromat business and make it a success.
Of course, getting your laundromat open is only the first part of the process. Head back to the blog to learn what else it takes to run a company successfully.