The laundry and dry cleaning business comes with a built-in customer base ready for you to offer your services. Everyone needs clean, cared for clothes and some people don’t have the time to take care of it on their own. This is where opportunity comes in. Starting a laundry business can be lucrative and promising.
Before you look into the potential earnings for a laundry business and start ordering soaps and hangers in bulk, it’s best to go over some tried and true basic tips to help set a foundation and a positive outlook for your laundry business’s future
Like any business, there are a number of liabilities that you can face every day as a business owner. No matter the industry, there are things you, as the owner, have to be aware of to keep your doors open and your customers happy. Even the most arbitrary thing can lead to legal battles.
And if it’s not something legal, then it’s something financial that can come into play. Think of repairs or replacements for damaged machines, which can be costly. Having business insurance coverage specifically designed for dry cleaners in place will help to back your business up financially when things don’t go according to plan, which is bound to happen at some point.
Location, Location, Location
You may have found a location for your dry cleaning business at a great price, but take a look around. Are you getting what you pay for? Even more important than price, is the location where you want to set your dry cleaning business up. The main reason people use dry cleaning and laundry services is because of convenience. If the location is out of the way, or inconvenient to get to, your sales will reflect this.
It may be wise to invest in a property that has a drive-thru or at a location that has a high volume of foot traffic, such as a business park or strip mall. Research the surrounding area to make sure the storefront you are interested in is in a convenient, easy access location.
At the end of the day, running a business is about turning a profit. A dry cleaning business needs working machines in order to do this. Equipment can be bought or leased at reasonable prices. Keep in mind, some newer machines are highly eco-friendly. In time, smart business owners will reap the benefits and savings of this modern equipment.
Know What to Charge
Laundry, especially in the commercial laundry businesses, is usually priced by the pound, whereas clothing and items to be dry cleaned are usually charged individually. Know what you’re charging your customers, so you can have a good outline to differentiate pricing a pair of pants versus a large order of towels, for example. If your business offers extra services, such as mending clothing or replacing zippers and buttons, those services need to be charged individually.
About Irving Weber Associates
At Irving Weber Associates, Inc., we understand what it takes to run a successful Dry Cleaner, Coin Operated Laundromat, Linen Supply business, or Commercial Launderer, including investing in a comprehensive Insurance Program to ensure that you are financially protected against claims. Our program, Fabricare Advantage™, offers overall business insurance coverages including General Liability, Property, Site Pollution Liability, Boiler & Machinery Equipment Breakdown, Workers’ Compensation, Business Auto, and many more. For a detailed look at how we can help you safeguard your business with a custom-tailored package, please contact our experts today at (800) 243-1811.