It's a small area near Seattle's airport (SeaTac), but they have approved a $15 minimum wage. Now, I don't suspect it will gain traction throughout the state, as Seattle is uber-liberal, but many other areas in Washington are not. Still, what if? How would a $15 minimum wage impact your laundromat? I suspect for most, it's at least a $5/hour increase for basic employees. If you'll fully attended and open at least 12 hours a day, that's $420 a week if you have one person manning the store at all times, more if you have multiple employees. It could impact a store from $20-60K a year, easily the same impact -- or worse -- of a sales tax.
OK, this is a bit theoretical, but as of Jan. 1, it's happening in one area of the country. Who's to say it can't happen elsewhere?
We are looking to open our second mat. before I do another ground up build I thought I would look for a buy opportunity. What is the best way to learn about mats for sale in the area, before they become public? or to buy an existing mat?
I have 4 employees, and one of them is a rotten apple, so I want to let go him tomorrow,
I don't care if he will claim the unemployment benefit... if he claims, I will agree it...no issue.
So, in this case, I don't give him any written notice or document, right?
Can I just tell him that your employment has been terminated and this is your final paycheck, that's it, right?
(because employment is 'at will")
Under this CLA BB Forum business management category description specifics, it includes legislation that does pertain to our industry so I am posting this link about what has been very recently introduced on the House Side of Congress.
If there is specific wording that we honestly have legitimate concerns about ... now is the time to make that known.
This morning at church there was a 10 year old boy with his 2 sisters & young dad in the pew in front of me. I could not help but notice the following words on the little boy's silk screened t shirt: Gold medals aren't really made of gold. They're made of sweat, determination, and a hard-to-find alloy called guts. Dan Gable
I could not help to think about our very functional dollar coins & the various alloys involved. :) Also, I had thoughts about that little boy's & his 2 younger sisters' future in our country if we do not at least make corrective baby steps in the right direction with our deficit-debt problem.
A customer was drying a mixed load (cotton and nylon items) in one of my 35 lb dryers on the morning of 9-13-13. He had the dryer set on HIGH. As it was running, he noticed that something didn't look quite right so he opened the door to take a look. He noticed smoke and immediately shut the door and went and got the attendant. She immediately went over to check the dryer. When she opened the door, the load burst into flames so she slammed the door shut and called the fire department. Then she called me on my cell. The fire department arrived in 5 minutes and I arrived a few minutes later. (All this was verified by reviewing the CCTV camera video.)
Of course, the fire was immediately extinguished but my employee did suffer from smoke inhalation. She was treated by paramedics at the scene. She's okay now.
My insurance carrier is Farm Bureau of Michigan. They paid for a new dryer; freight, tax and installation of the new dryer; business interruption lost sales and clean up costs minus my $1,000 deductible. I was very satisfied with the way the claim was handled. By the way, they refused to pay for the customer's clothes that were destroyed and I agreed with that decision. This fire was caused by the customer's failure to remove the nylon items as soon as they were dry. Once they were dry, these items continued to heat up until they got hot enough to smolder. By that time, the cotton items were getting dry and now all that was needed for a flame up was air. Opening the loading door allowed air into the stopped basket filling the cylinder with orange flame.
After looking at the burned out dryer for about a week, I decided to rebuild it rather than replace it. It needed new front and rear cylinder seals, belt, rollers, filler, rear bearing, 6 cylinder fin caps, door seal, window gasket, coin box switch and controller overlay. The stainless steel cylinder also required a few hours of cleaning. This dryer is now back in service and no one would ever guess that it had a fire.
I used the proceeds from the insurance along with a couple thousand of my own money to buy two new 30 lb single pocket dryers which I installed in a vacant corner of the building. These 2 new dryers went on line today and the customers love them.
I ordered the new Huebsch dryers with World drops and it took me a little while to figure out how to program them for DCO. From the factory, all the DIP switches were turned Off which means they will accept any coins that this model World drop is designed to handle. Turning a switch On causes it to reject that particular coin. So, of course, the drops were accepting Canadian coins, other foreign coins and US quarters as well as US dollar coins. I finally figured out that I had to turn On the first 4 DIP switches to cause quarters (and other coins) to be rejected. There are 16 DIP switches all total.
Since I'm using World drops on these 2 dryers, I had to program the dryer computers for the number of minutes per quarter because the quarter produces 1 pulse. When a dollar coin is accepted, the World drop produces 4 pulses and gives 4 x the number of 1 pulse minutes. So, in my case, with 1 pulse buying 5 minutes; a dollar coin buys 20 minutes (4 X 5 minutes). Even though I never take quarters that produce 1 pulse, I must still think in terms of 1 pulse when programming washers or dryers that have World drops.
Anyway, this fire restoration project is winding down and I now have 33 single pocket Huebsch dryers. Eight are 30 lb and twenty-five are 35 lb capacity. This is what I call, "Taking a lemon and making lemonade."
I have been in the Laundromat business for 21 years now and I just can't seem to get ahead enough to do the things I need and /or want to do. For example, I would like to have enough income so that I could phase out old equipment and replace them with newer models as needed. I also would like to be able to better afford repairs that I cannot perform myself on the equipment. It would also be nice to do store remodels (new windows for example) as needed. I would like to be able to give my employees better raises to help them make it as well. I am getting by, but just barely, any major expense and I am in trouble. My utilities, especially LP gas and electricity (water too) are eating up everything - not to mention payroll taxes and my bldg lease. I am debt free as far as loans go (both personally & in the business) - Thank God! My machine prices are in line with or slightly higher than my competition in the area. I have very clean stores & friendly attendants my customers tell me, so I charge a bit more than other coin laundries. Any ideas on how to increase revenue? Just raise prices on machines? I advertise on Google adwords & get decent results. Any advice is appreciated! Thanks!
I notice few laundries use the owners name as the name of their laundromat such as "Jones's Laundry." Is there a reason not to?
When we bought ours, the name was related to the type of equipment installed. We've replaced nearly all with a different brand and want to change the name and the outdoor lighted sign. It's in a small town so I thought about changing it to the town's name followed by the word Laundry. On our bills we use our last name followed by Laundromat but I've been told that's not a good idea when using the net for advertising. I guess the idea is that if you include the town as the name, it'll show up quicker during an internet search.
Has anyone bought a laundromat with a working dry cleaning plant and turned it into just a laundromat and drop off dry cleaning store? Does the dry cleaning revenue shrink when the cleaning is done off site?
The local Small business development center is offering a 3 day class on QBP for $125.00. I'm not sure if this is worth it or not. I have not decided on what platform I was going to manage my finances yet - but I do know for what I was quoted on for accounting I am probably going to have to get started at least on my own at first. I've used all the personal money programs and have a firm grasp on my personal money matters and kind of enjoy it anyway, I guess at first I might as well have a go at it myself.
Is this worth it for the class? Are you liking QBP if you are using it and if not how are you managing things?
Hello, I am new to the forum and to this business. Long story short, by what numbers and/or means do any of you decide if a mat is a good investment to purchase? Is there a rule of thumb? I always though it was based upon amount coming in vs amount going out = is it profitable... Obviously location is huge and I wouldn't mind a little insight as to what to look for in that as well.
Side note, what does wdf mean? I thought it was something profain, but many people use this term. Not sure what it means. I'm assuming it's a mat term.
A few days ago, my attendant told me that a guy (self service customer) was demanding a "solution" after finding that his clothes had crayon marks on them. I was heading to the store anyway. I explained to him that he was supposed to check the dryers and the pockets of his own garments. I offered him a free rinse. He agreed and left the store with the clean garments. After a while, his wife came to the store. :eek: All she did was to express how unhappy she was about the stains. She repeatedly screamed "oh my god" every time she picked up a piece from the laundry cart. I told her that she had to either call police or leave as she was just wasting her time. I could try to help but would never take responsibility for her husband's mistake. I left and came back about three hours later and was surprised to see both the husband and wife there at the store counter. The husband told me that he just called police. Whatever...Four police officers came. None of them spoke Spanish...So I told them what happened. When I mentioned that, in order for me to even consider a refund, they needed to prove that they brought the clothes without crayon marks on them, one of them immediately interrupted,"I don't think they would purposely damage their own clothes. Do you have any sign about the store policy?" I pointed to a sign at the counter. Problem solved. They didn't even make a police report. But they did suggest the couple to go to a civil court. I'm kinda looking forward to it...It should be a fun trip regardless I win the case or not.
I was just thinking, if I had no store policy signs, would the police officer take it as a business fraud that I didn't properly inform the customers about the potential risk of not getting any refund for accidents?
I started to test the effect of raising prices by groups a month ago. http://www.planetlaundry.com/forum/s...ad.php?t=10923
The washer vend prices were $2.25 for 20#, $3.25 for 30#, $4.50 for 40#, and $6.50 for 60#. I raised the 30# washer vend price from $3.25 to $3.50. I was wondering whether
1. The price conscious customers would just stop coming to my store when one or some of the groups of my washers' price(s) was(were) higher than the other laundromats'.
2. They would use other groups of washers more often. (i.e. use one 20# and one 40# instead of two 30#.)
So far, there have been nearly no changes. Here are some data for comparison.
size price quantity pound per day
size price quantity pound per day
I'm going to raise 30# washer vend price to $3.75 in Oct. See what's going to happen.
Greetings you all. Going to see the lawyer today ,my land lord has been offered a buyout for the building I am leasing. so are the 3 stores around me. I think I have 1 year left on my current lease and 2 x 5 year options after that. the broker has approached me he says they would like to assist me in relocation. and give me a small incentive to move. ( all that will be taxed at my capital gain rate ) Plus I will have to recapture depreciation to the tune of $ 43000, cost to me plus capital gains around $ 105000 . I will be giving up a good mat that I net around 96k a year. I really do not see any advantage in this for me, My equipment is old but working. If I relocate should I consider new if so My equipment payment would be half of my present income that is not attractive to me, I move and make less money. Or I could close this mat down take the cash and pay off a note on my last mat 2.5 years old and if I did that I would net the same amount with no more work involved . Oh yeah the brokers initial offer is half of what we came up with. When first talking with the broker I said I had 6 years left on the lease and I net $ 8300 a month times 72 months equals $597,600 that is what I think is fair . He says that is too much. I replied oh well. OPINONS welcomed.