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Ideas on Laundromat Locations - Finding a Good Location for a Coin Laundry 

Secrets Of Buying And Owning Laundromats Helps Anyone Get Started In The Laundromat Business. http://lnk.co/IOBCF

 

 
 
Tags:  Buying And Owning Laundromats  buying and owning coin laundry  Buying And Owning Laundry services  laundromats 
Views:  40
Published:  March 09, 2012
 
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Slide 1: ==== ==== Secrets Of Buying And Owning Laundromats. http://lnk.co/IOBCF ==== ==== There is a lot to be considered when it comes to locating a coin operated laundromat business or buying an existing operation. One of the main concerns is the location. The right location will help you to get the volume of customers that you need to sustain your business. On the other hand, a poor location could mean that your coin laundry is doomed right from the beginning. Let's take a look at how you should go about looking for and assessing the best laundromat locations in your area and beyond. Are Prominent Locations Best? Many people will tell you that you will do best in a prominent, 'high profile' or busy location and this is a logical assumption. The reasoning goes that you should try to locate your laundromat on a corner, on a main road, in a busy part of town or next to other businesses that are busy. This is generally the best approach. However, the problem with these premium locations is that they also come with an expensive price tag in terms of the leasing terms. On the other hand, you can also rent a space for your laundromat that is not in such a great location and thus end up paying a much lower monthly rent. As long as you are located within a convenient distance from your market then it may not matter if your laundry is in a back street or down an alley. Under these circumstances you would need to compensate for your lack of exposure by doing some promotions to try and make the market aware of your presence. You would also need to put extra emphasis on customer service and retention. These are two very different approaches and you need to consider many factors before you decide which approach is best for you. Customer Profiling and Area Demographics Before making a decision on location you should do a little research in order to find out what kind of customers your laundromat will likely be serving. If you are serving a transient population such as backpackers or holiday campers, then it could pay to be in a spot where they can easily find you. On the other hand, if you are serving a population of permanent residents then you could consider a location that is not so obvious. If you have regulars you can afford to have an inferior location, but if your customer base is changing all the time then you may be better off in an A grade spot. Laundromats are one business model that can thrive in areas where a large percentage of the population are unemployed or on low incomes. Many households in these areas are often unable to afford a washing machine and dryer yet still see doing laundry as a necessity.
Slide 2: A laundromat will generally do better in an urbanized area where people typically own smaller sized apartments or are renting. Your chances of success also increase if the average household size in the area is high. Large families with lots of children will obviously give you more business than unmarried singles or couples with no kids. Suburban laundromats are not as common as suburban households are more likely to have washing machines and these areas are more spread out. You can still do well in middle class and wealthy areas although you will have to offer more up market services. Another great market to target is students. If you are considering locating close to a university or other educational institutions then make sure that you find out what options students currently have available for washing their clothes. Expect to serve people mostly within a one mile radius in a built up area and slightly further afield in a suburban setting. Having a large number of apartments within walking distance is ideal. Focus on understanding the market within these immediate areas the most. You should be able to get a demographic report about an area that has been composed from US census data. Future Trends As well as taking a good mental snap shot of the current market demographics of an area you also need to consider the future. Are there any trends that could result in growth or contraction of your market over the coming years? The Competition After you have a good understanding of the people in an area, the next criteria for determining a great location is the level of competition. If there are competitors then you need to assess how successful their businesses are as the pie may be big enough for both of you to get a slice. Remember that some apartment complexes and universities have washing machine facilities onsite so you have to make sure that you are aware of all of the options that consumers have in the area. Depending on how close your location is to competitors, you may be able to steal away some of their customers as well as get new ones. Customers will usually consider changing laundromats if a new one is more convenient in terms of distance or appears to offer a better service. Check out your competition first so that you can find out what kind of experience customers are having there. Surrounding Businesses It is great if you can find a location that has other successful businesses nearby. Nearby businesses can help you out by giving customers a reason to use your laundromat rather than others in the area. If a customer frequents a nearby cafe, fast food restaurant or hair salon then chances are it will be convenient for them to also use your laundromat. People like to get everything done in one spot without having to make trips all over town. Parking Lots
Slide 3: Should you consider parking when it comes to choosing laundromat locations? Well again you really have to consider the demographics of your typical customer. While parking is certainly a bonus it may not be essential for an urban laundromat. Remember that those using laundromats on a regular basis are usually members of low income households. If families cannot afford a washing machine then it is likely that they are also unable to afford a car. Still, you would need to be sure of an areas potential before you would consider opening up in a spot where there were no parking options at all. Safety Considerations It is important that your laundromat is in a reasonably safe location. Customers have to feel that they are safe using your facilities during your opening hours. You also have to know that you are not in danger when you come to collect cash from your machines or perform other management tasks. Mapping it Out A great way to put your research into a form that is easy to understand set out your research findings on a map. Mark out neighborhoods and make notes on household demographics in those areas. Pinpoint the location of all laundromats already doing business in the area. You can then check out some locations that seem ideal in terms of being close to the market and an optimal distance from competitors. Find out how to choose the best laundromat locations and everything else that you need to know to start a laundromat business at Open a Laundromat Article Source: http://EzineArticles.com/?expert=James_K_Rouse ==== ==== Secrets Of Buying And Owning Laundromats. http://lnk.co/IOBCF ==== ====

   
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