Laundromats are an amazing small business option. They easily attract customers, since everyone has to do laundry, and are a fairly straightforward business model. With the right equipment and supplies, laundromats can be profitable businesses. The only catch? Laundromat operating costs can get expensive!
If your recent water and electricity bills have been shockingly high, you aren’t alone. The cost of water and electricity has seriously gone up in the past few years. Couple this with the typical wear and tear that requires regular maintenance or replacement, and you could be looking at significant operating costs.
Instead of blindly passing on increased costs to your customers – and potentially driving them away – consider ways that you can reduce your expenses and maintain your competitive edge. Here are just a few ideas to keep operating costs down.
Use energy-efficient laundry equipment
Not all washers and dryers are created equal. Modern washers are built to work faster and use fewer resources, with lower energy and water consumption than older models. If you’re still using old washers and dryers that haven’t been replaced in years, you could be wasting valuable resources.
Not only do older models of washers and dryers use more resources, but they often deliver less effective cleaning and offer fewer customizable settings, leaving your customers frustrated. Consider replacing equipment with modern options that are more water- and energy-efficient, which will reduce your operating costs and also avoid the frequency of costly repairs.
Clean and check machines regularly
Laundromats are a well-loved business model because they’re relatively low maintenance, but this doesn’t mean you should neglect them. Regularly taking time to check up on your laundromat will keep machines in tip-top condition. Empty lint traps daily, note and repair any leaks, inspect machines that are a source of customer complaints, and have your equipment serviced regularly for optimal function. This way, you’ll save on water and electricity, and spend less money on major repairs.
Encourage customers to come at cost-effective hours
Check your provincial or municipal hydro website. Chances are they have outlined hours during which it costs more or less money to use water. For example, it’s typically less expensive to run the tap during the evening. These reduced rates may not always apply to businesses, but if they do, incentivize customers to come during these times. Consider offering a discount on laundry or offering free drinks during this time!
Invest in industrial-sized equipment
The more cycles of laundry someone does, the more water and electricity they have to use. Investing in industrial washing machines for patrons with large quantities of laundry can help save you gallons and gallons of water each day. Industrial washers and dryers are capable of cleaning between 100 and 200 pounds of laundry in one go! These machines will help get customers in and out of the laundromat quickly, leading to higher customer satisfaction, a faster turnover rate, and fewer resources used.
Detergents and supplies
If you supply patrons with detergent, dryer sheets, and other laundry staples, look for ways to cut costs. A premium brand of detergent from the store can be as much as $15 for a gallon. Instead, buy detergent and other supplies in bulk at a lower cost. Offering laundry supplies to your customers is a good way to control what gets used in your machines, and allows you to select gentler products that will reduce the wear and tear on your equipment, saving you additional money in the long run.
Educate customers on sustainable practices
Sustainability is hugely important. Chances are it’s something that not only you but also your customers care about. Posting sustainability tips around your laundromat can help you to limit the amount of resources wasted. Encourage patrons to set machines to eco-friendly settings, pick shorter cycles, and only dry the clothes they need to. When you and your customers make more sustainable choices, you’ll end up using less water and electricity, which is good for business and the planet.
Laundromats are a great small business option, and being mindful about your operating costs can help keep your business goals on track. Yes, operating costs have gone up, but you can combat some of these increases by implementing strategies that reduce waste. Coronet Equipment has all of the vended and industrial washers and dyers you need to boost your laundromat’s productivity and lower operating costs – find out how we can help you stay on budget.