Laundromat owners can do 3 main things to make more money with their laundromats. First, they can create more value for their customers and, consequently, raise prices. Second, they can increase the services and offerings available to customers. Third, laundromat owners can increase the efficiency of their business.
1. Create More Value for Customers and Raise Your Prices Accordingly
The number one way to make more money with your laundromat is, ironically, to not focus on making more money. I've seen it time and again. The most successful people in this business focus on creating value, not on making money. So, if you're looking to make more money with your laundromat, look for ways to add more value to customers.
Here are a few ideas to add value in your laundromat to get you started.
- Keep your laundromat clean, well-lit, fully operational, and safe for your customers.
- Put yourself in the customers' shoes. What will make their experience better?
- Use a business management system like Cents to help you run a tight ship. This business-in-a-box gives you systems and automations that take tasks off of your plate so you can focus on the things that only you and your staff can do: serve your customers.
2. Increase Services and Offerings
A laundromat's primary income will almost always come from turning the washers and dryers. Get those washers turning more by implementing an advertising and promotional plan, or by offering services that invite a new demographic to use your washers.
One of the best ways to get started is by utilizing Cents to start a Wash-Dry-Fold laundry service or a Laundry Pick-up & Delivery service. Click here to get a free demo of how they can help you get started!
3. Decrease Your Laundromat's Expenses
Increasing revenue is one way to make more money with your laundromat, but you can also make more money by keeping more of the money that comes in. Saving on expenses is a great way to increase the bottom line, pocket more of your revenue, and increase the value of your laundromat.