The laundry industry is thriving due to social and economic factors, so it’s a great industry to get into if you’re thinking of starting your own business. But it can be quite complex and challenging, and there are a lot of factors to consider before you jump in. Here are three tips to help you get started in the laundry business:
Partner with Industry Experts
If you’re just starting out in the laundry business, you would greatly benefit from the advice of those with the necessary knowledge and expertise to help you get started. Continental Girbau, a company that provides commercial and laundry vending equipment, offers services and support for new investors, including flexible financing and business coaching.
Continental Girbau distributors have years of experience developing new laundries, and are extremely knowledgeable about the vended and commercial laundry business. They can help you find the perfect location, run demographic studies, navigate lease negotiations, secure competitive financing, choose and install your laundry equipment, and develop your marketing and management plans for your laundry business. Basically, they can coach you every step of the way, and this kind of support is invaluable for your success.
Choose the Perfect Location
Choosing the right location for your laundry business is crucial. There are plenty of things to consider when choosing your location, including population and competition.
One of the best places to put up a laundry is in an area that’s experiencing population growth, as these have the best potential need for a new store. You might also want to consider purchasing an existing laundry and renovating it instead of building a whole new store.
Depending on your location, you may need to secure several licenses and permits, including a business license, fire department license, air and water pollution control permit, and health department license (if you are thinking of serving snacks as an added service.) Remember to do your research and due diligence on these matters to avoid running into obstacles or getting fined for not securing the appropriate licenses.
Plan Your Layout and Design
Factors to consider when designing a new store or renovating an existing one include what type of equipment you’d like to use (card or coin-operated,) energy efficiency, and what other services you plan to provide. Utilizing the right laundry equipment in a good layout can save you plenty of time and money.
Many laundry owners have found that providing their customers with multiple services is a great way to maximize their profits. Since you will be paying rent on a certain amount of commercial space, it makes sense to make the most use of that space. You can have a snack bar, offer free Wi-Fi, or even let customers play video games while they wait.
One of the most sought-after added services customers look for is wash-and-fold. The prevalence of two-income families in the United States means that working parents have less time than ever before to attend to household chores like doing the laundry and folding clothes, so these extra services are much valued amongst regular customers. If you plan to offer these extra services, you will need to factor them into your store layout and design.
It pays to do plenty of research, due diligence and ask questions from experienced industry experts before going into the laundry business. Starting any new business is always challenging, but if you play your cards right and make smart decisions, you could soon be making steady profits from your very own laundry.