new guys

[James2011]

If two new mats are opening around your store in two months, then what would be the best and effective ways to keep your revenue?

[Adamski]

Lock your customers in and don't let them out.

Anything short of that and you're destined to lose customer base.

[BobbiOh]

In the bathroom, Larry? :)

[Bluestreak]

1) Remove all laundry equipment
2) build (3) 500 sq ft apartments
3) collect rent and stop fixing machines, sweeping floors, stocking vending machines, and filling changers. :)

[AlanR]

1) Remove all laundry equipment
2) build (3) 500 sq ft apartments
3) collect rent and stop fixing machines, sweeping floors, stocking vending machines, and filling changers. :)

Remove the equipment....well, maybe, but you don't want to build apartments, especially ones with two rooms and a bath. Been there, doing that, can't wait to bail out.

[STOUT]

Newbie123
Because of some of your previous posts;
How aggressive do you want to be?

[bodman]

start giving out free soap.free coffee in am . free dry , pray!!! Sounds like at least 30% drop in revenue is on its way,

[Adamski]

If two new mats are opening around your store in two months, then what would be the best and effective ways to keep your revenue?

Newbie,

There is no way to protect and maintain your current customer base with "2 new stores opening around your store". The 2 new laundromats will have new locations. Those locations will be more convenient for some of your customers than your location is. Also, if those operators are smart, they will offer a slightly different equipment mix than what you have. Some of your customers will find their washer and dryer sizes more desirable than your washer and dryer sizes. In addition, those new laundromats may offer some nice amenities that you don't offer such as WiFi or electric doors. Some of your customers will switch to the new laundromats because of these amenities.

There is no way that you will maintain your current customer base once these new stores open short of dropping your prices. A drop in prices could reduce your customer loss somewhat but it would also substantially decrease your total gross sales. You're between a rock and a hard place with no viable sollution to the problem. I suggest that you redouble your efforts to provide the nicest store possible.

[SEFlaundry]

Grab a gallon of gas and a book of matches.....

Just Kidding!!!

Is there enough business to sustane 2 new stores??

[epic02]

In the last 4 years I had three new stores open by me and a forth just opened this week that was a remodel and it's for sell. One of those stores is on the market for a forth time. Another one that opened last year I heard rumor that the owner wants to sell. With all this IM still standing my ground, and just became aggressive for the first time and put all front loaders at half price. Now it's my turn to put them in a rough situation. Newbie I have a lot of advantages over my competitors, what advantages will you have over them if any? Good luck hope it all works out for you.

[James2011]

ok, most of you guys joke and kidding....
that's fine, I will pray to my LORD(Jejus Christ, Hevenly Father, my God).

[thinkclean]

what kind of machines do you have and what is your competitor putting in?