help?!

[weeapon102]

hey guys,
ive been in the business for 2 years now im only 23 and have a lot to learn im sure. i just recently bought all new machines for my 3500 sq. ft. mat. i have 20 single load washers $2, 10 35lb express washers $4.50, 5 40lb washers $5.25, and 6 60lb washers $6. all maytag. also i have 15 new 35lb stack dryers. maytag again. my bills are around $9000 amonth and im making about $2500-$3000 a week. any suggests would be great.

ive just started free dry day, and $1 wash day and my profits went up 30% on free dry, and only 10% on $1 wash day. all of my competiters have free dry. is it worth it for me to raise the washer prices and offer free dry?

my goal would be $4000-5000 a week. any suggestions? i have no wdf customers and ive been pushing it also i was thinking of starting a pick up drop off service to some apartment complexes and colleges. any thoughts?

thank you
im located in cleveland, ohio

[Adamski]

...ive just started free dry day, and $1 wash day and my profits went up 30% on free dry, and only 10% on $1 wash day. all of my competiters have free dry. is it worth it for me to raise the washer prices and offer free dry? im located in cleveland, ohio

Wee,

You say all your competitors have free dry. How many laundromats is that (number)? How do your wash prices compare to your competitors? How does your laundromat compare to your competitors' stores? Do you have adequate parking? Do you have a visible location? Is there something else that could be holding down sales?

[weeapon102]

larry,

Thanks for the response. there are 3 other mats around me within a 5-8 mile radius. one across the street which im not worried about, ive taken most of her customers. she only has 15 top load washers with free dry and the machines were at 3.75 but she lowered them to 2.50. my biggest competitor has the free dry, his machines are about 15 years old and his prices are outragous in my eyes however he is always slammed. top load washer 3.75, 35 lb front load washer is $6, and his 60 lb washer is $12.25. my prices are almost half of that. my store is jsut renovated with all new paint,machines, ceiling tiles, lighting. my parking is huge for the neigborhood. my mat is in a 10 store plaza and i have 4 of the stores with about 15 spots in the front and 15 in the back, and im on one of the main streets in cleveland. i also get plenty compliments about how clean the mat is kept. as a bonus the old owner gave out free soap, bleach, drier sheets, and bags. i tried to take them away and had to bring them back because i lost 65% of my business. my machines are he so i devolped my own soap that saves me almost 1000$ a month. im in the process of marketing it to stores. im in 150 local stores in cleveland. im also in the process of putting in a sub shop, because i had a playcenter in the mat (like the one in mcdonalds) but took it out bc it was to much of a hassel. ive advertised in the newspapers including the spanish times, ive passed out flyers, and put a banner in front of my store showing what we give for free and our special days.

thats pretty much everything i can think of, and i still cant figure out how im not the busiest mat in town. any advice or help would be great!!

thanks

[STOUT]

Why did you choose the location you are now in?
You stated you've been in the business for 2 years now. Have you had your Laundry open the same amount of time or is there some lag time not accounted for?

[Adamski]

Wee,

Your place sounds pretty nice and well situated. There is one concern that I'm picking up though. You have the same size washers as your competitors. It sounds like there are plenty of toploaders, 35 lb and 60 lb washers in the market. If that is indeed the case, I would have put in mostly 20 and 40 lb washers and added a couple of 80 lb washers - just to offer something different. It's kind of too late to change that now though.

Another thought: if your wash prices are so much lower than Mr Free Dry's prices; then advertise your 60 lb wash price on a large exterior banner (without mentioning the pay dry aspect). It could read something like: "60 lb washer just $6 - save over 50%".

[weeapon102]

The story behind my mat is that its been in business for over 16 years now. there were two owners before me. the original owner was making a killing, 800$ a day on the weekdays and 1200+$ a day on the weekends. i didnt believe him but he showed me the books. he went through a nasty devorce and instead of losing it he sold it for the money. the last owner was terrible and ran the business in the ground. he never fixed the machines, was never there, and soon went bankrupt and i took over. when i got the place it had a total of 80 washers and dryers. out of those 80 0nly 30 machines worked!! so i went with maytag, who i do not recommend, and refurbished the whole place with new washers and dryers. when i first took over i wasnt even making 100$ a day on the weekdays and weekends maybe 600$ combined for both days. im up and running well but i know there is still alot of business i should be getting but cant seem to get the people back. ive advertised new owners, new machines, but still cant get over the hump.
Larry i didnt even think to get differnt machines i was listening to the maytag guys and what i got was what they thought was the best fit for the store. however ive had so many problems with there dryers and neptune front loaders that i wish i would have went with someone else. my main concern is that i dont have 1 single drop off client or commericial account. ive talked to other store owners and they told me that drop off or commericial accounts account for over 30% of there business. is this true? and if so how can i get the customers? ive advertised and everything even lowered my price to .79 cents a pound when the other mats are at 1.25$ and still nothing. just a little frustrated any advice is greatly appreciated.
thanks for the banner idead i will give it go this week..

thanks