If you are opening a laundromat, you will need to think of many different factors, such as the commercial laundry parts from Laundry Replacement Parts to invest in, the equipment you should have installed, your establishment’s location, staff to hire, and more. It’s quite an overwhelming list!
One of the many things you should also consider is your store’s opening hours. While you can stay open during the usual business hours from 9 AM to 6 PM, laundromat owners are also operating businesses open 24/7. This might beg you to ask, “Should I keep my laundromat open 24/7?”
The answer: It depends. Take a look at the pros and cons of keeping your laundromat open 24/7 and important factors to look into before making your decision.
Pros of a 24/7 Laundromat
– More Profit Opportunities: Extended hours can mean even more customers visiting your laundromat, thus increasing your profits.
– Reach a New Customer Base: When you stay open for much later, you can reach a whole new customer base, specifically those who need their laundry cleaned but aren’t available during typical business hours. You’ll get to attract students, factory workers, medical professionals, and other night owls who find it better to do their laundry after 6 PM.
– Brand Distinction: Not all laundromats are open 24/7. You might even be one of the only laundromats that offer extended opening hours in your area! Use this as a way to amp up your marketing and advertising efforts, which can set your business apart from the competition and lead to more people heading to your laundromat.
Cons of a 24/7 Laundromat
– More Downtime: Because most people usually sleep during the late evening and early morning hours, you’ll have less foot traffic during non-peak traffic. Depending on where you’re from, it may be challenging to bring in more customers to make it worth staying open 24/7.
– Higher Maintenance Costs: Longer hours mean you will be keeping everything on, including your equipment, dexter laundry parts, HVAC system, and the lights. You’ll also need to pay your staff more because they are taking longer hours. All this equates to increased overhead and operating costs.
– Higher Insurance Costs: Some business insurance companies may charge more or even reject coverage when you’re open 24/7 because of the heightened security risk.
Factors to Consider
Besides the pros and cons of operating a laundromat 24/7, there are other factors you should think about, such as:
– Will your laundromat turn a profit when open during non-peak hours?
– Is your target customer base asking for a laundromat to be open 24/7?
– Do you have the necessary staff to keep your laundromat operating 24/7?
– What are your location’s crime patterns?
– Will the lease agreement allow extended-hour operations?
– Do you see other nearby businesses operating 24/7 as well?
Wrapping It Up
Make sure you keep all these things in mind before you decide whether you keep your laundromat 24/7 or set different hours.
