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{"id":10990,"date":"2022-01-31T11:00:42","date_gmt":"2022-01-31T17:00:42","guid":{"rendered":"https:\/\/planetlaundry.com\/?p=10990"},"modified":"2022-01-31T11:00:42","modified_gmt":"2022-01-31T17:00:42","slug":"crunching-the-numbers-part-1","status":"publish","type":"post","link":"https:\/\/planetlaundry.com\/crunching-the-numbers-part-1\/","title":{"rendered":"Crunching the Numbers (Part 1)"},"content":{"rendered":"

A Look at Some of the Operational Metrics and Key Data Owners Should Be Monitoring to Keep Their Laundromats on Track for Success<\/h2>\n

How\u2019s business these days?<\/p>\n

Pretty good? Flat? Booming? Maybe improving a little since the pandemic?<\/p>\n

If you\u2019re not really quite sure how to definitively answer that question, maybe you\u2019re not as in tune with your laundry business as you should be.<\/p>\n

Successful operators set specific business objectives, and they know how to track their progress toward achieving them. Unfortunately, looking at things like revenue and profit on the balance sheet or in your accounting software can only take you so far. You should continually seek more tangible ways to measure your progress.<\/p>\n

Key performance indicators, or KPIs, are some of the best business measurement tools available. Tracking relevant KPIs can assist in decision-making, help you set strategic objectives, and allow you to evaluate your business process in real time.<\/p>\n

Of course, there are various types of business metrics and performance indicators to study. And they\u2019re all different. You need to be sure that the KPIs you monitor fall in line with your specific business.<\/p>\n

You need to come up with your own set of numbers and statistics to meet your goals. After all, the goals of one laundromat can vary drastically from those of another. You have some free reign in crafting your laundromat\u2019s KPIs, but according to QuickBooks, you should make sure they meet the following four criteria:<\/p>\n