Is The Economy Affecting Laundromats?

So According to the Wall Street Journal, coin laundries are suffering in this economy as well. The article is an interesting read, but it does not represent all Laundromats in this industry. And yes, while some stores have experienced a downturn, others are actually growing in business. Most of the downturn, has more to due with a change in the demographics of a neighborhood's base customers (mainly people moving back across the border), than it does with the fundamentals of the business itself. In areas of the country where there has not been a large change in core customers of coin laundries, business has been stable. This is generally the case in major metropolitan areas.

Here is the Wall Street Journal Article Even Laundries Tumble..."



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Click the link below if you would like to learn more about the Laundromat business and listen to a FREE call explaining how to get started in this exciting business!

Sales Training to Improve the Bottom Line!

Well I just got home from spending the day with a very good friend of mine, Eric Lofholm, up at his office in Roseville, CA. Aside from being a personal friend, Eric is my sales coach and mentor. Now you may be asking yourself what does a Laundromat have to do with sales? The customers come in and wash, no sales required, right?

Well you're right and you're wrong. In order to get your customers in the door, you need to sell them on why your Coin Laundry is the right one for them. Once they come in, you need to sell them with your stores amenities, your attendants, your equipment, and your service experience that you will provide them.

The reality is that most Laundromat owners never think about the customer experience in terms of sales and in my opinion that is a mistake. They are leaving money at the door or in most cases, the money never even makes it into the store because the customers never came in. It doesn't have to be that way. What if you had a sales plan, a written plan, that would not only get more customers in the store but also get them to spend more money while at the store.

Remember every increase in gross revenue drops 70% to 85% to the bottom line. To put it another way, each new customer is worth between $500 and $650 per year to you. That is the power of a well thought out sales strategy and no one I know teaches this better than my friend Eric Lofholm.

I have personally added thousands of dollars a month to my bottom line from the strategies he teaches and I wanted to share with you, my readers, how you too can learn these same strategies from Erik himself.

Eric is hosting a very special 2-day event called "The Close" that you can attend for FREE at the end of July in San Francisco.

Here are the details:

July 24-25, 2009
Friday & Saturday

Doubletree Hotel
San Francisco Airport
835 Airport Blvd.,
Burlingame, California 94010
Phone: (650) 344-5500

The hotel ballroom only holds 200 people and right now there are already 145 people registered for the event. I will be there myself, both days trying to learn more sales distinctions and I hope to see you there! The last time I went to this event it was a sellout and the seats will be gone soon.

Register now and attend with me, by going to http://www.ericlofholm.com/close.php remember this event is FREE. If you learn just one new idea that gets you one customer that is worth $500 to $650 per year to you.

To your laundry success,


Brian
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Click the link below if you would like to learn more about the Laundromat business and listen to a FREE call explaining how to get started in this exciting business!

Survival Skills

Well I am back from the Clean Show of 2009 held in New Orleans and I wanted to share with you an article written by American Coin Op magizine about the panel discussion I was apart of to kick off the convention. See below

Brian


Profiting in Today's Economy
Paul Partyka, Editor , American Coin-Op
Published 06/18/2009 - 12:37 p.m. CT

Brian Wallace, CLA president/CEO (left) served as moderator for a panel consisting of (left to right) Paul Pettefer, Brian Brunckhorst and Keith Griffin.
ABOUT THE AUTHOR

Paul Partyka, Editor
Website:http://www.americancoinop.com/
Email:ppartyka@crain.com

NEW ORLEANS — What does it take to run a successful laundry?

A panel at a morning Clean-Show educational session discussed trends facing the industry today, and made projections on developments 5-10 years in the future. The panel first tackled a popular question: Is this a recession-proof industry?

“Yes, I would say so, compared to other businesses” said Keith Griffin, an Arkansas operator. “It’s not recession-proof; it’s more recession-resistant,” said Brian Brunckhorst, a San Francisco operator. “The demographics are key.”Paul Pettefer, a Lake Charles, La., operator, doesn’t believe it’s a recession-proof business. His business is down due to transient workers leaving the area.

The top challenges vary for the three operators. Providing the right customer service is key for Pettefer. Acquiring financing is the top challenge for Brunckhorst. Finding good employees and keeping turnover down keeps Griffin busy.

Are there down-economy opportunities? Weaker owners are leaving the business, which opens up some buying opportunities, says Brunckhorst. In down times, there are better deals to be had with contractors, distributors and landlords, says Griffin. Now’s a great time to add equipment, Pettefer believes. It’s also a time to create a great customer experience and build market share.

The panel all agreed that the future looks good. “People still need to wash clothes; operators can’t fall asleep,” Pettefer opined. “I’m very optimistic about the future,” said Brunckhorst. “The boomers are retiring; there will be downsizing. There will be more renters.” “This is a good industry,” said Griffin. There’s a trend toward multi-store owners with big stores, he adds.

To read the origional article you can go here.

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Click the link below if you would like to learn more about the Laundromat business and listen to a FREE call explaining how to get started in this exciting business!