1. Make certain you will find numerous apartment complexes and small single-family houses inside a one or two-mile radius from the location. A number of these offer insufficient laundry facilities or none whatsoever.
2. Consider maintenance the growing needs of lower earnings and ethnic towns. These areas typically feature bigger families that rely on gold coin laundries. For instance, based on US 2000 Census figures, the Hispanic community may be the quickest growing population segment in the united states.
3. Make certain there’s good visibility in the street and ample parking. Flags, roof signs and also the colors blue and red-colored always attract attention.
4. If you are thinking about an outlet inside a strip center, make certain other stores within the center are the types which will attract clients for your laundry.
5. If you are thinking about a free standing store of four,000 sq ft or bigger, consider selecting one big enough to support additional retail services later on. Today, many storeowners enjoy additional revenue streams from add-on services and facilities, for example fluff and fold, a tanning salon, dry cleaning, a snack shop or convenience store, simply to title a couple of.
Bear in mind that however important, which is of critical importance, “location” is simply one key factor inside your overall success. Additionally to selecting the best location, you will need to address costs, lease settlement, the gear mix, layout, décor and prices, all of which are in line with the marketplace and also the competition in the region you’re thinking about.
Ilene Fudim is really a across the country recognized expert within the gold coin operated laundry industry along with a adding editor towards the Laundry Center Marketwatch e-newsletter. She’s been instrumental in assisting launch many effective gold coin laundry companies.