Competition review is one of the keys to success when starting any business, especially a laundromat because, as a laundry business owner you must know what your business is up against with other laundromats in the area.
In this article we will share with you several tips on how you can evaluate other laundromats so that you can know what to expect from the competition from laundry businesses in the city or state where your laundry business is located.
Tip #1 – Review Their Locations
The first step to reviewing other laundromats in your market is to find out what their locations have to offer their customers.
- Are those locations offer major roads or highways?
- Close to colleges or universities?
- Within walking distance of apartment communities?
- Near brand name stores or shopping centers?
Besides these basic questions, you should also find out if those locations have good parking, clean/well-lit lots and most importantly, you should drive by during the day and at night to get a perspective on what those locations are like at all hours of the day or night.
Tip #2 – Check Their Equipment
Besides learning more about the locations of your competitors, you should also take the time to tour those laundromats and check their equipment.
Specifically, you should pay close attention to the age, care, and maintenance of their equipment because some laundromats may be in better shape than others or they may be using new technology that you will want to consider opening your laundromat with.
Tip #3 – Review Their Services
Last of all, but most important, when reviewing other laundromats in your area, you should also be paying close attention to the services that those competitors have to offer.
Pay close attention to if they can handle large items, offer wash/fold services and if they offer laundry pick-up/delivery in the area.
These are all important things to review when accessing the competition because you may want to change your services or marketing to offer services that go above and beyond what competitors in the area are offering.
Ultimately, what information you choose to act on after your competitive analysis is up to you but know that if you offer more than just new machines and a clean facility, you will successfully snag a percentage of the local customer base and build a successful laundry business.
By Jeremy Raglin, Content Writer