Proven Small Businesses You can Start - Laundry Services and Laundrette
Laundry Services / Laundrette
Running a laundrette will involve purchasing and maintaining a number of washing and drying machines, as well as the management of staff.
You will need to have the ability to communicate well with customers, and to effectively manage staff. Experience with fixing washer or dryer machines is useful, but by no means a requirement.
You will need strong financial support at the start of the business, as the initial cost of the machines is very high; however the running costs after that are small. The three main costs you will face are the building rental, employee wages, and the repair of machines that break down.
Although the price of home washing machines is lowering, the demand for laundrette services is still relatively high, particularly in areas with high tenant or student populations. When choosing a location you will need to find somewhere with lots of potential customers, and be aware of any local competition; as the majority of good locations are likely to already be taken.
Laundrettes in general do not do a great deal of advertising after they open. They will usually try to attract customers at launch; keeping as many of them as possible as regular users. Most forms of advertising are of little use, as the target market for most laundrettes is extremely local; but leaflets can be a good method of informing the local population cheaply.
The high startup costs mean that it is likely to be a while before you see a profit on your laundrette, but if you have chosen a good location, there is a lot of potential for making money.
Pro:
There is quite a large demand for these services in areas with large student and tenant (rented) populations.
After the initial equipment costs are relatively low.
Con:
There is a lot of competition in most areas.
The lowering price of washing machines will reduce potential customers over time.
Initial equipment purchase will be expensive.
Skill Level = Low
Start up Costs = Medium to High
Training = Short maintenance courses if needed
Experience = Not needed
Equipment Costs = Medium to High (But on an infrequent basis)
Location/Office Costs = Vary considerably from Low to High
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