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- How do you turn a laundry service into a million-dollar laundry business?
- 1. Increase Volume
- 2. Sell related laundry service products or value
- 3. Take your laundry business online
- 4. Reduce operating time
- 5. Increase the pricing for your laundry service
- 6. Branch out your laundry business
- 7. Have a business plan
Laundry service business might look so small and negligible but the huge profit in a laundry business is enough to make anyone a millionaire if one can do what’s in this article. We made it simpler with this laundry service business plan to help you earn up to 14million annually. They are easy hacks anyone can do without incurring additional huge cost of laundry equipment.
Laundry business is a game of numbers. You are either increasing the numbers horizontally (no of clients) or vertically (no of clothes). No matter the type of increase you choose if you don’t charge enough to cover the cost, you will never build a million-dollar laundry business out of the laundry service.
Making a million-dollar from a laundry business or laundry service is not impossible as long as you know how to run a dry cleaning business. Let’s do this simple calculation. If you charge $1 to wash an item of clothing, you will need to wash a million clothes to make a million-dollar and this might seem impossible to achieve.
Download: Detailed Laundry service business plan [+3years financial projection]
If this is the only strategy you have for your laundry service to become a million-dollar laundry business you will really need to work very very hard. However, don’t worry as this article will give you easier means to achieve the million dollar laundry service business goal.
How do you turn a laundry service into a million-dollar laundry business?
1. Increase Volume
This is one thing that would easily come to anyone’s mind. You might want to increase the number of customers you attract and the volume of clothes they bring in. This applies too even if your laundry business operates as a Laundromat. This might look difficult to achieve but can be easy if you employ the other strategies listed below. There are lots of laundry equipment and laundry processes that can help you achieve this.
Related: 12 laundry equipment every laundry business must have
2. Sell related laundry service products or value
There is one thing about expanding the services or products a laundry business can offer. Finding a million customers can be difficult. So, can you make $30 or $100 from each customer? This will reduce the million customer search to 10,000 or 30,000 as the case might be. How can you do this?
Can you sell laundry products like stain removers to your customers, shoe polish or make the entry of your laundry business workshop to be a boutique where people can buy fashion outfits too? Can you include an e-commerce section to your laundry website were people can buy related items after booking your services?
Read Also: Laundry products every laundry business should use
With this, you are expanding your chances of earning more from fewer people without looking for a million people to patronize you.
3. Take your laundry business online
People don’t have all the time to come to you let alone having all the time to wash their own clothes. If they don’t have all that time to visit your laundry business workshop, why not take the laundry service to their doorsteps?
Let them book your laundry service online while you do the pick-up and delivery. This will increase the number of people you reach. This means that you will earn more with more reach.
4. Reduce operating time
If it takes you 20 mins to handle a single item of clothing, even if you have a million people knocking at your door, you will never be able to serve them all in a year. You can reduce time by hiring more hands as demands increase. Get more machines as demand increases. Can use steam irons to save time or drying machines so weather conditions won’t hinder your delivery time. Do anything you can to reduce the delivery time of your laundry services without increasing cost inappropriately.
5. Increase the pricing for your laundry service
If a lot of people are running a laundry business around you, you will need to do this strategically. Firstly, increase the value you offer like giving room for express delivery where people can get their clothes delivered in 20mins while you charge them an added fee for the urgency.
Another added value could be to include a small bottle of perfume or cologne when delivering the clothes so people can easily justify your price increase so you can avoid price war with competitors
Read Also: How to raise price and still win competition
6. Branch out your laundry business
Why should you consider branching out your laundry and dry cleaning business? If the location where you operate your laundry service business doesn’t have the population needed to earn you a million. If the laundry service location doesn’t have the class of people who can afford your high pricing.
You can do this without incurring cost on structures by simply having an online presence. Then target your ads to those chosen locations either through online or offline means.
7. Have a business plan
The importance of a business plan can never be underrated. It guides on every step of the way. No business has a straight journey, but a business plan just like a map helps you see all the bends on the road and channels you the right direction to help you navigate the most business problem. I know this because I have consulted for many businesses inclusive of cleaning service businesses. Neglecting a business plan was the genesis of their problem. Imagine starting and running a business without a map. Don’t make that mistake. While a business plan does not offer 100% solution to every business problem, it sure keeps you on the right track with strong documented financial. From the experience of years of consulting, I have carefully drafted a laundry service business plan to help you earn up to 14 million annually from scratch. Yes! no jokes
Download: how to run a dry cleaning business
In conclusion, there are no small businesses, it’s only small minds that make a business small. Every laundry and dry cleaning business person has the potential of making a million from the laundry service they offer if they really strategize well. Which of these strategies do you think would work best for you? Tell us in the comment session. You can also get a business plan for your laundry and dry cleaning business with us.
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