Jack Nelson' S Problem

Topics: Entrepreneurship, Management, Marketing Pages: 8 (2257 words) Published: October 23, 2010
Hire cheaply but effectively. If you cannot afford to hire full-time employees, you can do two things: hire commission-only sales reps and/or hire interns. With commission-only sales reps, you only need to pay them what they earn. Interns from colleges and universities often work for free or next-to-nothing, and get college credit in return. The drawback, though, is their short-term availability, mostly during summer and spring breaks only. Or you can hire dedicated people who are willing to work for nothing in exchange for equity, should your company succeed. There are a lot of talented people who are willing to work for less in exchange for assurance of a slice of the corporate pie once the company succeeds. This is particularly true for Internet start-ups.  3. Maximize networking potentials by participating in business organizations. Business and trade organizations are rich sources of contacts - from potential investors, customers, partners or mentors. Moreover, it would help you keep yourself updated of the latest industry news and developments. For home-based workers, participation in business and trade organizations is your perfect excuse to step out of the house! 

• Find a location that needs a Laundromat. A high-profile location, such as a spot on a busy street with good visibility and plenty of parking, is a necessity for a business such as this to succeed. • 2

Contact the city or county department that handles business licenses and request an application. • 3
Ask what other requirements there are for opening a business. You may be required to have insurance, or you might have to follow certain restrictions for the area. • 4
Go to the Franchise Tax Board to get a wholesale permit, if required. This will allow you to purchase goods without paying tax if they are to be used in your business. • 5
Research Laundromats. Decide if you want a fully automated Laundromat, or a partially automated one that includes additional services such as ironing and folding. • 6
Decide whether you want to purchase a franchise or open an independent business. • 7
Make a business plan. You'll need to have all of the aspects of opening and running the business worked out for the short and long term. • 8
Get financing. Unless you have a lot of money lying around, you will need to borrow money to build. • 9
Advertise your new business. Let people in the area know that you're open for business. • 10

Keys to a Successful Laundry Service

Since this business is relatively easy to start, you may face tough competition. It’s easy to overcome this challenge by focusing on ways to differentiate your laundromat from the competition. Stand apart by operating the cleanest, safest laundromat in town, charging slightly less per load than your competitors, offering environmentally friendly laundry facilities, and providing unique laundry services such as on-site pickup, delivery, and wash-dry-fold services. Know your customers’ needs, too – you may have a variety of different types of customers to work with. What one needs, the other may not bother with. If you know who they are, you can tailor services exactly to them.

Expanding Your Laundromat Business

Are you wanting to expand the business you already own? Consider speaking with competitors that have a coin laundry for sale. Find out why they are selling and where they may have failed. Strengthen your service depending on what they reveal. Maybe a 24-hour service would result in higher revenue? [pic][pic][pic]Work hard to establish contracts with local companies, as these are filled with potential customers. These customers may have dry cleaning needs or drop off and delivery needs, so cultivate your services to make and keep them loyal to your business. As you gain experience in the industry, expand your operations into other cities or states. Attract customers by adding unique concepts to your laundromat such as a beer and wine bar or internet cafe.

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