Laundromats offer a valuable service that people need but the big question is should they stay open 24-7?
There’s no denying that we live in a world where people are working 24-7, and some people don’t have the time to do their laundry during normal business hours, but is keeping your laundromat open 24-7 going to bring more ROI?
In this article we will answer this question and offer you the pros and cons of keeping your laundromat open all hours.
Is Staying Open 24-7 Worth the Investment?
Making the decision to keep your laundromat open 24-7 must be a decision based on a variety of factors including:
Demand – Is there a significant demand for a 24-7 laundromat in your community? If not, you will be wasting money so it’s best to do the research first to determine demand.
Besides learning more about the demand for an all-hours laundromat, you should also find out if there are other businesses nearby that are open 24-7 as well.
Security – Will your employees be safe and secure when they are working during the middle of the night?
Repairs – Can you get your machines repaired if they go down in the middle of the night? Having an all-night laundromat is great but, if the machines aren’t working that only frustrates customers and you will lose business.
Make Sure You Think About the Overall Cost
Yes, having a laundromat that’s open all night can be an asset for the community but, as a business owner you also must think about the long-term costs including:
Higher Insurance Premiums – Some insurance companies charge higher premiums when a business is open 24-7 so you should make sure that your insurance covers your needs before you convert to a 24-7 business model.
Your Landlord May Not Allow It – Although you’re ready to stay open 24-7, your landlord may not allow it because some leases place limitations on the hours that a business can stay open.
The decision to stay open 24-7 is up to you. Make sure you consider all the points listed in this article because the long-term ROI of your business depends on it.
Also see: Suppliers Directory.