New Development: Opportunity or Disaster?

[YoungJedi]

A few months ago my county approved a very large construction development right across the street from my laundry. At present, the property is an abandoned strip mall. Not sure how many acres, but its rather large.

Anyway, construction is scheduled to begin in 2011. There will be a grocery store as the main tenant. The developer is actually selling part of the land for stand alone buildings.

This development should bring with it a significant boost to my business...unless someone builds a brand new mat in the new development. The thought seems crazy given the amount of mats in my area, but knowing how crazy people are, I'm wondering if there is anything I can do to find out if anyone is planning on putting in a laundry?

Should I call the developer and tell them I'm interested in purchasing a lot from them? Does that plant the seed with the developer to call some local distributors.

what do you guys think? What would you do? How would you manage this situation?

Thanks and hope everyone is having a good Holiday Season.

Jason

[chad]

The city I would belive have that info....

Why not buy it and build one there :)

[YoungJedi]

The city will know if the developer has had conversations with another laundry owner about a new build?

I haven't thought seriously about buying as I don't have the capitol to do so just yet. Plus, there are 2 very new/large laundries between 1.5 and 3 miles away.

Hmmmm. It does make me think about what it would take to put in a 3 to 4K sq ft place. Maybe I'll give them a call. If anyone has any advice on the situation let me know.

Jason

[canon]

Two mats and you within 3 miles? What are you worried about? How big is your mat and what does it look like? Are you going to jump every time a new development opens? I would not bring it up to the developer unless you are prepared to act. You could be planting a seed.

[bo]

I would keep it on the down low. If you want to be pro-active, put up a LARGE sign announcing your re-model and Grand Re-opening with all new and improved yada-yada...that will keep 'um wondering what you are up to!

[YoungJedi]

my mat is small. around 2K sq feet. very clean since we took it over.

I'm just paranoid. Always trying to keep an eye on what is happening around the shop.

Guess I'll keep an ear to the ground and see what happens.

Jason

[CanCanCase]

If you really want to find out if the development owner is planning to put a mat in, approach the owners and ask if you can rent space for a laundromat, then ask if there's any protection against another mat going into the same development. Granted, it may give him/her an idea they didn't already have (as has been mentioned) but you'll get an idea of what's going on based on their willingness to have a mat in there at all...

-Case

[Super Clean]

I sometimes call these new developments and just inquire to the lease costs and so forth. Usually a quick conversation will tell me the price point is to high to sustain a laundromat. If the lease rates were in line with what I want to spend, I'd put a laundromat in...Still haven't found one lol.

[Adamski]

Case,

When I'm trying to find out about the potential for a laundromat at some location, I never say who I am and I definitely never mention the word "laundromat". You can get plenty of answers without tipping your hand so never go too far on the initial contact. After evaluating the information obtained initially, you can determine if it makes sense to pursue the matter more deeply.