Increase laundromat revenue and improve customer experience with additional services that capitalize on a captive audience. Most coin-op laundry customers spend at least 120 minutes doing their laundry, so you may as well make the most of the time they spend on your premises. By going above and beyond the traditional wash-and-dry amenities offered by most coin-operated laundry facilities, you will stand out, establish your business as a preferred option in the community, and increase revenue in the long run.
How to Increase Laundromat Revenue With An Existing Customer Base
There are a variety of ways to increase revenue while focusing on your existing customer base. Work to accommodate your customers in every possible way, and they will keep coming back—and may even pay more for new services. Here are a few ways to increase revenue and add value to your laundromat.
Consider Food & Drink Options
Think about installing a few different food and drink options to appeal to your existing customers and bring in extra revenue.
- Vending machines: Vending machines are a popular way to provide refreshments, please customers, and make you some extra cash. New vending machines may be cost prohibitive, but plenty of used equipment is available.
- Coffee bar: Why not add a comfy coffee bar or an on-premise café? Stock up on simple snacks and drinks—water and coffee are two best-sellers—and hire smiling faces to serve them to your customers, creating a laundromat that doubles as a community space.
- Bar/restaurants: You could go beyond the simple vending machines and combine your coin-op laundry business with a restaurant, bar, or both.This concept appeals most to singles and renters, and works best in areas near colleges or vacation hot spots. If going it alone makes you uncomfortable, restaurant/laundromat franchises are available to help with location selection and other aspects of getting the business up and running. You can expect to invest between $205,300 and $415,300 to transform your laundromat in this manner.
Offer Additional Laundromat Services
Washing and drying are the minimum services that a coin-op laundry must provide, but offering more is a simple way to increase revenue. Ideas for additional laundromat services include dry cleaning, folding, stain removal, and simple repairs (buttons, zippers, hems, etc). Or, consider the concept of full-service laundering, which appeals to customers with busy lives and little free time. Full-service laundry—which bundles wash, dry, and fold services for a fee—requires little cost upfront but results in an immediate increase in revenue for businesses.
Sell Laundry Supplies
Although most customers will come prepared, there are always those who forget or run out of product. Stock up on laundry soap, bleach, dryer sheets, stain remover and hangers and sell them in your store. Keep track of sales so you can adjust inventory for the future. Buying in bulk or wholesale can save you a good amount of money and allows you to sell each item at a slightly higher price to make a profit. Selling soap and other items in a vending machine typically brings in an average of $1,000 a month.
Branch Out With Strategic Partnerships
Consider approaching outside groups, local businesses, or sports teams for help with their laundry. Set up a discount for large orders of uniforms, or do private washings for those who don’t have the time. Business-to-business client work is a very common and smart way to increase the revenue of your existing business.
One of the easiest ways to make a laundromat more profitable is to focus on your customers: By expanding the services your business offers and making it attractive for them to patronize your store, you’ll create repeat customers and ultimately increase your revenue.