Not every laundromat owner begins their business with loads of money, but that doesn’t mean they can’t become successful laundromat owners. If you have an entrepreneurial spirit, the know-how, and a little capital, you could be on your way to opening your own laundromat in no time. Here are some useful tips on how to start a laundromat with no money!
Step 1: Get an LLC
If you plan on running your laundromat as a business, you’ll need some legal protections that only an LLC can provide. In addition, forming an LLC will give you access to tax benefits and limit your personal liability should someone get hurt in one of your machines. Your accountant can help you set up an LLC and decide which business structure (partnership, sole proprietorship or corporation) is best for your unique situation.
Step 2: Find an Awesome Location
When people think about starting their own laundromat business, they immediately assume that location is everything. It isn’t; a great location can help you, but it won’t make or break your business. However, if you don’t have enough capital for rent and equipment up front, then finding an awesome spot will be nearly impossible.
Step 3: Diversify Your Services
In addition to washing machines, you could also offer laundry pickup or delivery. This can be especially attractive if you live in an apartment building without washers and dryers. If you decide not to have washers and dryers, make sure that your facility offers a place for customers to sit while their clothes are being washed. Customers will appreciate that they don’t need to run back home in between loads of laundry just so they can relax and enjoy some downtime at your laundromat.
Step 4: Advertise, Advertise, Advertise!
Now that your audience has grown and you’ve established yourself as an authority, it’s time to get paid for your words. Many freelance writers—myself included—use an ad network like AdSense or Chitika to sell ads on their site.
Other options include sponsored guest posts, banner ads, and native advertising (ads within editorial content). The earnings potential varies widely by industry; in general, though, expect to bring in anywhere from $5-$150 per 1,000 page views.
Step 5: Manage Client Expectations (and their laundry)
Once you are open, it’s important to manage expectations regarding your prices, delivery times, and other services. It’s easy for clients to be disappointed when they don’t get their clothes back in 24 hours or find out that their favorite shirt needs special attention (i.e. dry cleaning).
Tell them upfront what is involved and what they can expect before you take their clothes in hand.
Step 6: Keeping Customers Coming Back
3 Crucial Tips for Building Customer Relationships and Improving Retention, from an Experienced Entrepreneur (Case Study) – Perhaps one of the most crucial steps in retaining customers is getting them coming back.
If you don’t have enough people coming through your doors again and again, then you’re setting yourself up for failure. So what can you do to prevent that fate? Get tips on how to retain customers right here, right now! A proven entrepreneur reveals his secrets.