Despite the constant need for clean clothes, many don’t have time to handle this simple task. In fact, laundry is often rated as the least favorite household chore.
Given the constant need for clean clothes, this $40 billion dollar industry is a lucrative business to get involved in. If you are thinking about becoming a laundry entrepreneur, take a look at the following strategies on how to start a laundry business.
Start a Laundry Business
Gain Experience in the Laundry Industry
While running your own laundry business does not require any specific qualifications or experience, it’s a good idea when entering any business to have experience in the industry. With this in mind, it may prove valuable to take a job in a laundry facility, so you can learn more about the trade and what customers want.
Carry Out Market Research
Before you begin the venture, conducting market research can be an effective way to ensure there is On demand for laundry services in your area. Carrying out market research will help you determine how customers are likely to respond to your new venture.
Write a Business Plan
All business ideas should start with a business plan. Even if you are not planning on getting a bank loan or venture capital for your business, a business plan will give you a deeper understanding of the market.
Your business plan should start with a list of the services you will provide. Will you deliver the laundry back to customers or offer any specialized cleaning services, such as dry cleaning or ironing?
List the Items You Will Need
Starting a laundry business might be more expensive than you think. When writing your business plan, jot down all the equipment and items you will need, including washers, dryers, detergent, hangers, and so on. These items will need to be factored into your budget to ensure your venture is financially viable.
Determine Your Target Market
It’s important every entrepreneur picks a target market to go after. When writing your business plan and getting your idea off the ground, think about who your target market will be. With a laundry business, your target market could be fairly broad, ranging from elderly customers who aren’t able to take care of the washing themselves, to busy working moms who don’t have time to wash the family’s laundry, to students who don’t have their own washer or dryer at home.
Mapping out who your target markets are is vital when it comes to marketing your business.
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Pick a Prime Venue
If you’ve got laundry facilities at home such as in your garage and you live in a place that’s accessible for customers to drop off and pick up their laundry, you may want to operate your laundry business from home.
Failing that, look for a prime venue for your start-up that’s in a great location, such as on a busy street, to help get the business up and running. Naturally, the price of renting the venue will need to be factored into the business expenses and taken out of potential profits.
Space that has off street parking is attractive as this makes the dropping off and picking up process more convenient for customers.
Distinguish Your Laundry Business from Competitors
Besides making sure you have a good location, think about ways you will distinguish yourself from competitors. You may want to offer specialized services, such as ironing and dry-cleaning items or offer lower prices than competitors.
When you open the business, encourage customers to come to you by offering ‘first-week deals’ such as two loads of washing for the price of one.
Start to Market Your Business
Once you have everything in place to open your laundry business, start marketing your venture aggressively. From posting fliers to sending direct mail, and even getting your own website launched, there are endless ways to market your laundry business to different target markets.
Think About Becoming a Laundry Franchisee
Business franchises come with a number of benefits, including the providing of everything you will need to get your business up and running. Systems like Laundry Care partner with entrepreneurs seeking to provide laundry services to local residents and commercial customers and help them build a business.
As the brand and business model are already set-up and established, entering a franchise contract can come with less risk than starting a business entirely from scratch.
How Do You Get Paid…and How Much?
Laundry Care Providers are paid a flat rate of $20 per regular bag and $40 per x-large bag. There is also extra compensation for additional services such as rush orders (24 hr service), ironing and dry cleaning courier service.
On average, providers earn $120-$300 weekly. This information is based on 7-12 clients and can be achieved with a small 10-15 hr commitment. Laundry Care’s top earners make $500-$700 per week with a larger commitment of 15-35 hours weekly.
Originally published on smallbiztrends.com