| What a great American business, a Laundromat. It is | | | | #2 Co-owner passed away and partner no longer |
| something that is very useful to many American's | | | | wants to continue! |
| today, however location and marketing play their | | | | #3 Adjustable rate mortgage (ARM) recently |
| roles in how successful that your endeavors to make | | | | adjusted up, and the scheduled payment is too high |
| a profit with this type of business will be. Let us look | | | | to continue without refinancing. (This is a great |
| at some of the factors that will guaranty a | | | | opportunity to buy a business and save money.) |
| successful business venture. | | | | PERKS? |
| LOCATION? | | | | A laundromat just isn't a laundromat without the |
| Let's first deal with location. If you are looking at an | | | | perks. Well, just think about it for a minute, what |
| existing laundromat business that is for sale, try to | | | | makes going to your laundromat worthwhile? A |
| talk to the owner to get an idea on business volume. | | | | laundromat business is the perfect opportunity to |
| You can also ask what works and what doesn't | | | | perk up the neighborhood with; drop-off service, self |
| work. Also ask questions that relates to prices and | | | | serve dry clean machines, open 24 hours, free |
| hours of operation. Here is where I must give away | | | | coffee for patrons, vending machines, peaceful |
| a trade secret. Franchising is the best kept secret of | | | | environment, shirt/blouse service for business people, |
| the 21st century. If you find a laundromat business | | | | bulk dry cleaning service and let's include a few |
| for sale but it is not doing well, think of buying a | | | | non-violent video games. |
| franchised cleaning service. That way you can reopen | | | | CONCLUSION! |
| the existing laundromat under the well branded name | | | | If you are the thinking of buying a laundromat |
| of the franchise. With a little paint and elbow grease, | | | | business, with proper planning it can become a real |
| a couple of new magazines and the new "brand | | | | treat for the owner and neighborhood. Not to |
| name" over the door, you transform a failing business | | | | mention the usefulness of just basic functionality for |
| to a profitable one. | | | | the community it servers. Additionally, you must look |
| MARKETING? | | | | at having a clean place with machines that are clean |
| Now let's deal with marketing or promoting and selling | | | | and work properly and plenty of off street parking. |
| your services. Do you have any competitors in the | | | | Some other ideas on how to capitalize on your |
| neighborhood that are doing the same things as you? | | | | Laundromat Franchise, is to play music all day. You |
| One thing you could do is cut the price of your | | | | could add a small store or maybe in the back office |
| service in half for the 1st month or two. This is | | | | do custom T-shirt printing or business cards. Ideas |
| where owning a franchise really helps. Marketing and | | | | are plenteous, it just depends on the amount of |
| Advertising are two of the highest cost incurred in a | | | | space you have. Additional business can be run from |
| laundromat business until is well established. And | | | | one location. See what is missing in your community |
| existing laundromat business could be on sale for the | | | | and double your profits. But remember, franchising is |
| following reasons. | | | | the best kept secret of the 21st Century! |
| #1 Business is good, owner is retiring! | | | | |