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{"id":11988,"date":"2022-08-11T15:23:34","date_gmt":"2022-08-11T20:23:34","guid":{"rendered":"https:\/\/planetlaundry.com\/?p=11988"},"modified":"2022-08-11T15:28:13","modified_gmt":"2022-08-11T20:28:13","slug":"word-to-the-wise-part-2","status":"publish","type":"post","link":"https:\/\/planetlaundry.com\/word-to-the-wise-part-2\/","title":{"rendered":"Word to the Wise, Part 2"},"content":{"rendered":"

Laundromat Owners Share Best Practices for Long-Term Success<\/h2>\n

[This is the second of the two-part feature article. Read Part 1 here<\/a>.]<\/strong><\/p>\n

Several leading laundromat owners share their best business and operational advice, tips and strategies for new store operators and those considering an investment in the laundry industry:<\/p>\n

Larry Larsen<\/strong>
\nLaundromat123.com<\/strong><\/p>\n

I think many first-time buyers are encouraged in websites and online forums to start auxiliary services within their laundromats to increase their bottom line profits. One of the more popular current services being touted is wash-dry-fold, sometimes with pickup-and-delivery services included as well.<\/p>\n

I would avoid adding any labor-intensive services until you have at least six months of experience with operating and managing your new laundromat. For new owners, your laundromat knowledge will increase dramatically in those first six months.<\/p>\n

Waiting six months will provide you time to analyze whether or not these management- and labor-intensive services will really provide the benefits you\u2019re seeking. In my experience, many (if not most) laundromats located in low-income service areas don\u2019t generate enough revenue from these services to justify the level of increased labor required.<\/p>\n

In southern California, an employee costs nearly $15 per hour. With workers\u2019 compensation and payroll contributions, this rises to about $18 per hour. If your business hours are 6:00 a.m. to 10:00 p.m., your cost for one employee is approximately $8,160 per month.<\/p>\n

If your in-house laundry service grosses less than $8,160 per month, adding these services can actually cost you money.<\/p>\n

I\u2019m aware that some states have lower minimum wage requirements and that some owners figure their laundry attendants can handle store cleaning duties when not busy processing wash-dry-fold loads. In addition, some owners seem happy to give themselves a part-time job doing other people\u2019s laundry.<\/p>\n

However, new operators would be wise to consider all aspects of adding any labor-intensive services before entering into an activity that doesn\u2019t always provide the income anticipated.<\/p>\n

Best Advice I Ever Received:<\/strong> When looking to buy a laundromat, it\u2019s always best to carefully consider and modify the income and expense sheet provided by a seller to reflect what will be a new buyer\u2019s actual expenses. Laundrylux founder Bernie Milch shared this advice with me. He was the most intelligent, hardest-working person I\u2019ve ever encountered in my time in the laundromat industry.<\/p>\n

Here are some common areas where your costs may be higher:<\/p>\n