Open Forum

Best partners for growth?

  • 1.  Best partners for growth?

    Posted 08-20-2019 17:15
    Hello All-

    I have been evaluating Laundromats for purchase and I wanted to hear feedback. What are your favorite add on services out there to increase profitability of underutilized laundromats?

    I saw delivery.com and it seems to offer a good bolt on product depending on your location.

    Does Doordash or Uber offer delivery services you can link to your wash dry fold business?

    Other suggestions?

    Thanks for reading


    ------------------------------
    DAVID KORNBLITH
    David Kornblith - Investor
    New York NY
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  • 2.  RE: Best partners for growth?

    Posted 08-20-2019 17:43
    Edited by LARRY ADAMSKI 08-20-2019 17:45
    David,

    This is not what you want to hear but I will say it anyway.

    A straight, self serve only laundromat is a simple, low stress, easy to operate, profitable business.  Any "added profit center" will complicate a laundromat's operations, add operator stress and usually competes with self serve customers resulting in a reduction of their satisfaction.

    There is something to be said for improving the self serve customer's experience to grow sales instead of degrading that experience as you covet an entirely different customer base.

    As you may have guessed by now, I have no favorite add on side business.
    ------------------------------
    Larry Adamski
    Muskegon Laundromat
    Muskegon, Michigan
    ------------------------------

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  • 3.  RE: Best partners for growth?

    Posted 08-20-2019 18:23
    Larry is 100% correct.You will of course need a vending machine with salty & sugary snacks and a soda machine to wash them down and that's it. OK, These days you need to include some sort of healthy things.

    ------------------------------
    Curt Harrington
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  • 4.  RE: Best partners for growth?

    Posted 08-20-2019 18:29
    David,

    Print and post the advice given above by Larry Adamski. It's well founded and well written. It clearly defines an early issue faced by many new owners.

    Maybe learning the operational skills needed for a self-serve Laundromat before expanding into potential areas of additional income is your smartest move. All additional income sources will cause increased time and/or management.

    ------------------------------
    Larry Larsen
    Laundromat123.com
    Anaheim, CA
    Distributor - Insurance - Consulting
    Cell: (714) 390-9969
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  • 5.  RE: Best partners for growth?

    Posted 08-21-2019 12:29
    I agree with Curt and both Larrys here.

    Learn the business first. Get REALLY good at it because add ons will not save the day for you. Your primary business will.

    That said, you should install a good soap vending machine like the Vision Vender at the time of opening, unless you plan to sell over the counter. Anything after that is optional and may distract you from perfecting your REAL business...Laundromat.

    Soda and snack machines go well with our business, but don't expect a whole lot of money from them....especially in light of the effort needed to restock them.
    If your location has a convenience store nearby within walking distance, or if its located in a shopping center, soda and snack machine sales will be lower.

    My biggest bang for the buck was an ATM machine. Easy to fill and maintain, and makes a surprising amount of money. At least they did for me because I had lotions with busy walk in traffic. Plus, you walk out of your mat with less cash because you will be restocking it from your change machine or VTM bills as it makes a bank deposit for you with each transaction.

    Stay away from gumball machines, and machines that sell kid's toys. Nothing but trouble. Gum will be spit out on the floor, rubber sticky toys will be shot onto your ceiling, and rubber bouncing balls become a slip and fall hazard.





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    Paulie B
    Multiple Mat Owner since 1976
    New York City, NY
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  • 6.  RE: Best partners for growth?

    Posted 08-21-2019 21:02
    David,

    I wanted to mention the fact that you need some sort of vending for soap and related products but that escaped me before I responded. Any way...please listen to the seasoned people here as you are likely to loose your shirt in this business! Seriously! You WILL loose your home and any other investments you are thinking about involving yourself in this in this business. That is unless you do not make uneducated mistakes.

    ------------------------------
    Curt Harrington
    ------------------------------

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  • 7.  RE: Best partners for growth?

    Posted 08-23-2019 15:59
    Paulie,
    Gonna have to disagree with you here, and from another thread where someone stole the vending machine. 
    A replier stated that "those machine don't make much money and aren't worth the hassle."

    For about 15+ years we had Bulk Venders in a dozen or so Laundromats of my regular service clients.
    Shared revenue (or in laymen's term "I give you half the profit in exchange for a couple square feet of space")
    Technically it was the Wife's business.
    (In reality it meant I fixed any broke or jammed coin drops, we went together and refilled them, and she got the money!)

    Never really saw any problems with gum on the floor, or toys laying about,
    and as for the bouncy balls, a large number Did seem to end up behind the washers.
    The Clean ones I washed and put back in the machine, the less than perfect ones I gave to the nearest "well behaved" kid as a reward (or bribe).

    I guess the one poster was right about the take.
    I only seemed to get $125 -$175 per machine head (vender), per month out of them.
    Most places had at least 6 venders, and one had 13.
    Not really much money there.

    I had the Gumballs & Jawbreakers, both in 1" and 1.5", and capsule toys, and Balloons, but I also had Hot Tamales, Mike & Ikes, Boston Beans-peanuts, M&M's - regular and peanut, Reese's Pieces, Skittles, Runts, Tarts, Good & Plenty, and Jelly Belly Jelly Beans (Reagan"s Favorite).

    I got "Official Regonition" from the Goelitz Company as the ONLY bulk vender of Jelly Bellys in the US.
    And they produced a "fake gumball machine" with their logo on it as a result.
    (maybe you've seen them?)

    I actually heard several Mother's say to their little darlings, "No dear you can't have any of that nasty candy, .... Oh look they have Jelly Bellys, OK you can have some of those. They're good for you!"

    Gradually lost the locations as the Laundromats sold to new owner, who promptly put in their own venders.

    ------------------------------
    DAVID CHAMLEE
    Service Technician since 1986
    and sometimes Laundromat Owner
    CCR
    Santa Barbara, CA
    ------------------------------

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  • 8.  RE: Best partners for growth?

    Posted 08-22-2019 03:57
    Hello David,
    I also agree with the general consensus.  Not saying it's impossible but the reality is that the chances of taking an underutilized location & grow the business with aps or other delivery options is a bit of a longshot.  Sure keep it on your radar & under consideration while you focus on the day to day activities while learning your business.

     Good luck.

    ------------------------------
    Juan
    Cocoa, Fl
    ------------------------------

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  • 9.  RE: Best partners for growth?

    Posted 08-22-2019 14:34
    Hi David - As much as I respect the guys on this thread I couldn't disagree with them more...There thinking is short sided...The fastest growing part of the laundry business is the pickup/delivery business...ZERO doubt there... Yes you need to learn the nuts & bolts first but once you feel comfortable with that I would get into pickup/delivery. regardless of your personal beliefs on "do it yourself"...that work has changed and is continuing to change...heck McDonald's does delivery...what does that tell you!! Self serve is a great business for those who don't want to manage more then 5-7 people, are content with incremental growth and having concerns/worries that someone else might open up down the road or worse having the landlord watch you build a great business and then when your lease is up they take all the goodwill built for nothing...pickup/delivery can go wherever you are...in today's times people want more flexibility in their lives; so businesses need to offer the same to reach all these different types of consumer habits.

    ------------------------------
    Rick Rome
    Owner/Operator
    WashClubTrak
    POS/Laundry Delivery Software
    New York
    Rick@washclubtrak.com
    ------------------------------

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  • 10.  RE: Best partners for growth?

    Posted 08-22-2019 16:21
    Edited by LARRY ADAMSKI 08-22-2019 16:24
    Rick,

    While I certainly can appreciate your enthusiasm for your business plan; I would merely point out that pick up and delivery has yet to be put to the test of a deep recession whereas self serve has shown that it can survive successive recessions.  A few years of growth during the best economic conditions in our lifetime doesn't prove your pick up and delivery concept can survive or prosper long term.

    ------------------------------
    Larry Adamski
    Muskegon Laundromat
    Muskegon, Michigan
    ------------------------------

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  • 11.  RE: Best partners for growth?

    Posted 08-22-2019 17:00
    Adding to Larry's point..

     Rick, let's not forget the the OP is a new investor.  Let's not give said investor false hope or a skewed sense of reality.  At the very minimum you could've qualified your response based on your area, length of service, business etc.

     Perhaps you know but I'm assuming that his area is not a business hub or Mecca where the delivery business is going to all of a sudden flourish.

      The investor that you / we are talking to will be new based on his input.  And the place that he is evaluating is underutilized which can mean several different things to us ranging from the place is neglected, or has minimal foot traffic.  The OP did not disclose pertinent details.  Thus to state that this is the future & the best thing is both premature to say the least.

     Thanks.



    ------------------------------
    Juan
    Cocoa, Fl
    ------------------------------

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  • 12.  RE: Best partners for growth?

    Posted 08-22-2019 17:33
    Well Rick,

    I am glad that it is working for you. I have tried it and it did not work well for me and I have been around a few years. Now I didn't really loose anything but would hate to see someone new to this get hurt.

    ------------------------------
    Curt Harrington
    ------------------------------

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  • 13.  RE: Best partners for growth?

    Posted 08-28-2019 11:08
    Juan - The OP is from NYC so says his signature so it's easy for me to give quality advise because I operate here...I know this market inside/out... I don't believe any business just flourishes from the get go, it requires hard work, marketing, managing people and mechanical situations,learning from any set-backs etc... For those who want to wait and see what happens regarding pickup/delivery that is ok for me; I've been saying and practicing this for years that pickup/delivery is the growth engine in our business... you don't need to risk a lot of capital to implement, literally over night you can extend your store front 20 miles in every direction which in-turn can grow your revenues organically and incrementally to a level no single self-serve store can... Since 2011 I have grown my sales 12x over .... It was not easy but then again nothing in life worth a damn ever is....Do as you see fit...




    ------------------------------
    Rick Rome
    Owner/Operator
    WashClubTrak
    POS/Laundry Delivery Software
    New York
    Rick@washclubtrak.com
    ------------------------------

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  • 14.  RE: Best partners for growth?

    Posted 08-22-2019 18:58
    Larry - That is just not true..it has been tested...pickup and delivery has been a staple in cities for decades...you aren't seeing my point..perhaps I explained it bad...cultural dynamics are changing...pickup/delivery of anything is the "norm" for many people..why has best buy shut stores? why is sears gone?why do you order domino's pizza?? not because its good,because its convenient. Service sector jobs have been the highest percentage growth (in terms of jobs) then any other...why?? Consumers are happy to pay for service..plain and simple...  so regardless of economic conditions pickup/delivery is more and more becoming main stream way of life...Do you remember news stands?? people would go to there to buy a paper...then they came up with a brilliant idea...deliver the news right to the persons home...The newspaper business boomed! It gave more visibility into future sales all the while growing the customer base...to say self serve laundries are completely recession proof is not accurate either...do they hold up better then other businesses during bad times, absolutely but people wash their clothes less or stuff into one machine instead of 2 or hang dry clothes more instead of using dryers etc etc...people still get married in recessions they just don't have as many flowers! Not sure how you calculate best economic times (maybe for the 1%) but many folks still having hard times...that can be an another discussion...off-line :)




    ------------------------------
    Rick Rome
    Owner/Operator
    WashClubTrak
    POS/Laundry Delivery Software
    New York
    Rick@washclubtrak.com
    ------------------------------

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  • 15.  RE: Best partners for growth?

    Posted 08-22-2019 19:59
    Edited by LARRY ADAMSKI 08-23-2019 07:40
    Rick,

    Let's be clear.  Best Buy, Sears, McDonald's, Dominos, newspapers and flowers are not service sector businesses.  These are retailers. Non of these retailers do pick up and delivery, they just do delivery.  Residential laundry pick up and delivery has a relatively short track record with few similarities to retail delivery.  The Great Recession ended in 2009.  Residential laundry pick up and delivery has no experience operating during recessionary times.

    I never say laundromats are recession proof.  I say they are recession resistant because they provide a needed public service similar to the way a water utility provides a needed public service.  So laundromats do survive recessions but only the strongest ones go on to prosper.

    With the federal unemployment rate at just 3.7% (the lowest in my lifetime); virtually anybody who wants to work can find a job.  Wages have been rapidly rising too.  This was not the case during the Great Recession but perhaps you are too young to know about that.  There will always be destitute people no matter how strong our economy is.  Some of those people have had really bad luck but most of them have made poor life choices (driving while drunk or impaired, killing someone, etc.) and now their past has caught up with them.

    ------------------------------
    Larry Adamski
    Muskegon Laundromat
    Muskegon, Michigan
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  • 16.  RE: Best partners for growth?

    Posted 08-23-2019 11:40
    Larry - You are not correct...Not sure how you say restaurants or flower shop is not in the retail service business; does the name geek squad mean anything to you... that is best buy's fastest growing rev stream and it sells computer SERVICES... You have a great business and I am happy for you but you are dead wrong here...the word delivery encompasses a pickup/delivery or both....when I was in college in Tempe, AZ the local laundry had pickup/delivery service...that was in 1991...again no idea why you say short track record...no need to get into economics...much longer discussion and not interested .... It's fine you don't want to have headaches or interest in pickup/delivery but don't say things that are misleading or just not accurate....I guess we will agree to disagree...Have a great weekend!

    ------------------------------
    Rick Rome
    Owner/Operator
    WashClubTrak
    POS/Laundry Delivery Software
    New York
    Rick@washclubtrak.com
    ------------------------------

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  • 17.  RE: Best partners for growth?

    Posted 08-23-2019 10:49
    Just adding to the chorus of "don't try this until you're well established".  Even then, it's a more complicated model.  I'm not sold on the current financial viability of all the delivery and ride-share services out there.  Uber is losing wheel barrows of money (on paper and cash) and I don't see that changing anytime soon.  Sooner or later, cash in must be more than cash out.  Investors grow tired hearing about potential after a few years.  That's why I'm a fan of the core laundry business.  Simple, proven, hangs in there during down economic times. It's boring, but I'm fine with boring.

    To answer your original question about partnering...I have one store with a robust WDF business and had the same thought you did, partnering with Lyft, Uber, or something similar.  I contacted them and others and the answer was thanks, but no thanks.  It's not a broad enough business for them to venture into.  That was a couple of years ago, maybe that's changed.   You can make money running a delivery service, but you need some experience and it's a lot of work.  Best of luck in your ventures..

    ------------------------------
    Paul Kludt
    Multi Store Owner
    Lake Worth Coin Laundry
    West Palm Beach, FL
    ------------------------------

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  • 18.  RE: Best partners for growth?

    Posted 08-23-2019 12:25
    David,
      I greatly respect the operators above and their contributions to our industry but I agree with Rick, they are dead wrong when it comes to Laundry Pickup & Delivery. Obviously they all mean well but they simply don't know, what they don't know.
        I agree with Rick on most of what he said. Laundry Pickup & Delivery is not new and has weathered plenty of economic down turns in the past. Heck, Dry Cleaners have been doing it for 40 years. Different product, but the same model...

         I think the reason they say these things is simply because it hasn't become mainstream until recently. For 30 years people have been doing Laundry Pickup & Delivery as an ancillary income stream and yes they survived recessions. With it being such a labor intensive business, it'd actually be fairly easy to survive a recession if you know what you're doing. Recessions are always temporary.....
         I want to add onto what Rick said tho...

      The difference between then and now is our society's mindset towards their personal time and how they value it. Our society has greatly shifted in the last 10 years into what I call the "Amazon Economy" and anyone who feels it's temporary is just kind of sitting on the sidelines...
       The one thing I will say David, is that Laundry Pickup & Delivery is no longer an ancillary income and I'm proof of that. Laundry Pickup & Delivery is quickly becoming it's own industry!
        In 3 years, I've increased my stores revenue and ultimately its' value exponentially. My PU&D service now generates over twice as much revenue and profit as my mat. Just imagine how that's directly affected the value of my business... Does that sound "ancillary" to you?
         Truth is, it's not easy but it certainly can be done by anyone with a mat,a ton of grit! Every week I have people reaching out asking how I'm doing it...

    Here's what I tell them....
    You need very specific processes and procedures for your operations to be profitable. If you're starting and flying solo, it'll likely take you years, and a lot of wasted capital to learn these things and it's possible you'll quit if you go it alone... If your labor slides out of whack, there goes your margins with it. I also tell them that they need technology, they need marketing expertise and funding, they need outstanding, industry specific, in house, customer service, and powerful brand recognition. Really what they need is a team of mentors who have done it, are willing to teach and share their systems, and want to dominate this gigantic industry...

    Ultimately, owner's can spend years and lots of $, trying to figure out themselves or they can seek out these things in the industry and partner with those who've been there and done that.
    It's up to each operator, how they pursue it. It's unquestionable that the market is there and rapidly growing every day and nothing is going to stop it! If a mat owner is running a Laundry Pickup & Delivery business and they see it as an ancillary income stream, then they have yet to crack the code, imo. Best of luck to you either way!

    ------------------------------
    Dave Menz
    Queen City Laundry Chain
    https://www.queencitylaundry.com
    Laundry Magician Pickup & Delivery
    https://www.laundrymagician.com
    Cincinnati, OH
    ------------------------------

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  • 19.  RE: Best partners for growth?

    Posted 08-23-2019 15:13
    I don't believe people on different sides of this discussion are right or wrong.  IMO the two are just very different businesses.  News flash for the pro-delivery crowd...You don't own laundromats.  You own delivery services and you allow people to pay for the privilege to use your machines when you're not using them.  I think that can be wildly successful for all the reasons stated, and I agree there's a favorable demographic trend.  I believe it takes a very different mindset and operator to make it work versus a meat and potatoes coin laundry and that's the point I'd like to drive home.  Maybe you can live in both worlds, but it takes a very savvy person to figure all that out.  I wouldn't recommend that for a new business owner.  Straight coin stores can be a handful, they're comparably less of a handful than delivery.  It's not a matter of right or wrong.  Great discussion and comments.  Anyhow, happy Friday to all.


    ------------------------------
    Paul Kludt
    Multi Store Owner
    Lake Worth Coin Laundry
    West Palm Beach, FL
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  • 20.  RE: Best partners for growth?

    Posted 08-23-2019 17:49
    Edited by DAVE MENZ 08-23-2019 17:55
    " News flash for the pro-delivery crowd...You don't own laundromats.  You own delivery services and you allow people to pay for the privilege to use your machines when you're not using them. "

    Paul, I'm not here to argue but I can't help but giggle when someone, anyone, tells me what I am or am not doing... How in the world would you know??
         I own a chain of laundromats and am building another now. They are all successful, stand alone laundromats that do good business and pay their own bills... Our drivers are out during the day doing pickups and dropoffs during the day which doesn't interfere with our mat customers at all. Our delivery processing is done at night when the store is closed.

       It is possible to do both and not unreasonable. In fact when mat owner's do both, I'd say it turns a meat and potatoes business into a filet mignon.

        Yes some like Rick have chosen to cannibalize their self serve business by choice. The reality is that the true beauty of laundry delivery is the maximum capacity utilization of our infrastructure. While your mat is closed, my mat is being utilized to generate double the revenue at night as it did during the day, not instead of. Btw, because of all of this extra revenue I have more and better management in place giving me MORE freedom, not less. I work less in my current model than ever more.

        I've always thought it a shame when one who truly has no idea what they are talking about decides what someone else is, or will be. If you believe personally that you cannot do this, then you are right, you cannot. If you don't want to do this, by all means don't do it. It's aweful dangerous to tell others what they cannot do though, because some may actually listen to you and believe they can't.  Luckily, I'm not one of those people...

         I'd be very careful telling others what they can or cannot do. It reminds me of all those people who told me that I'd never amount to anything, yet here I am. 🤦🤦🤦


    ------------------------------
    Dave Menz
    Queen City Laundry Chain
    https://www.queencitylaundry.com
    Laundry Magician Pickup & Delivery
    https://www.laundrymagician.com
    Cincinnati, OH
    ------------------------------

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  • 21.  RE: Best partners for growth?

    Posted 08-24-2019 00:04
    It must be clearly understood and established that we are the smaller percentage of the mat industry.  Furthermore several of the usual posters on this forum have unique circumstances & levels of success which is all well & good.

     To reiterate... The OP by his own admission is a new investor.  While it's great that some of the responses are replete with success stories that is great information for the OP or any new investor to understand or at least factor into part of his / her consideration process.

      Im sure that when all of you / us started, mistakes were made & there were at least a few days when we second guessed our decisions.  The OP's focus should be on mat operations & understanding.  It's pretty clear that is the point that is being emphasized by several on this thread. Once that's understood and mastered the OP can move on to wdf & partnering with an App or service that he can partner for "growth"  Think about that.  The question itself can be interpreted different ways.  Worded differently it's putting the cart before the horse.

     It's really 2 similar yet different discussions.  For some of you wdf pick up delivery etc has worked great but there are plenty of mats where it's been a total disaster.  The OP, heck most of us on this forum don't have that data.

     Case & point take our small group of active members.  What is the percentage of us that do wdf, no wdf, or wdf w pick up & delivery?  That percentage is likely in the 10% or less range.

     Other interesting observation is that people talk abt all of the great things associated with wdf but we never read much about or from those that failed or a thread where both the good & the bad part of WDF is discussed.  Why is that?

     Discuss.

    ------------------------------
    Juan
    Cocoa, Fl
    ------------------------------

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  • 22.  RE: Best partners for growth?

    Posted 08-27-2019 12:31
    Mr. Vasquez,

    You are absolutely correct in your observation that "you don't hear about the failures".

    The term is called Survivorship bias or survival bias. This is the logical error of concentrating on the people or things that made it past some selection process and overlooking those that did not, typically because of their lack of visibility. This can lead to false conclusions in several different ways.

    To a great degree, the majority of those who post here a survivors in there respective businesses by a combination of hard work, skill and........some luck.



    ------------------------------
    LAURA HAUGLAND
    LAURA HAUGLAND Person
    Duluth MN
    ------------------------------

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  • 23.  RE: Best partners for growth?

    Posted 08-28-2019 08:01
    Hello Laura,

    That is very correct and the point to my post in addition to others that identified similar concerns.  While it's great that some have succeeded wonderfully the fact is that many have not.  Moreover that wdf failure data in addition to mat failure rate data is not captured on this forum.   In my years of being.a member I recall reading a handful of discussions pertaining to failed mat businesses & even less (if at all) pertaining to failed wdf.

     I get it, the rationale for that is obvious.  Most investors who end up losing or giving up the business be it wdf or the mat entirely are ready to move on or have taken such a significant financial loss that they are eager to put everything behind them and / or are busy trying to figure out how to recover, if that is even possible contingent on how much was invested.

     Thus, while it's great to hear about the success stories and I applaud them, to tell a new investor that it's an easy process and that anyone can do it because it worked for them is inaccurate and borders on irresponsible if it is not qualified correctly or presented with in a true comparison to those that have failed.

      I'd still like to read about the wdf challenges in addition to the success stories but that topic has yet to be discussed on this or (preferably) a new thread.  I think it should as it just another stone that is left unturned that investors either are not aware of or think it just another easy "add on" resulting in  them ending  up getting stuck with an add on that is costing them time, money, perhaps even business or just making enough to pay the attendant which you have to understand the logic in that depending on the given business model attended versus partially attended, unattended going to attended etc...

     Ultimately it's the new investors decision but it should be made clear to him or her that as great and at some point easy that this business is with or without wdf plenty of due diligence has to be made in addition to identifying some stop gaps for them to know that they need to rethink their strategies

     Good discussion.  Thanks for your comment.

    ------------------------------
    Juan
    Cocoa, Fl
    ------------------------------

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  • 24.  RE: Best partners for growth?

    Posted 08-28-2019 09:55
    Juan and Laura,

    Tremendous observations and discussion.  I had never consciously thought about it, but it's spot on and it's important for new people to understand.  I've never read a post from somebody who bought a store for $300K, and is now working 70 hours a week and making $40K.  I know there are lots of those cases out there, we just never see them here.  Thank you.

    On Juan's question of WDF...I have 4 stores, three of them within a mile of each other.  The percentage of WDF varies between zero and 40%, a very wide range.  IMO, there are a lot of factors involved in success/failure of this service.  Assuming you're able to provide a good service (that's a big assumption), I believe location, visibility and accessibility are the biggest drivers.  People want to drop and go.  They don't want to fight for parking, walk across a parking lot, wait two minutes for stoplight, etc...One thing with WDF is there's not a big financial investment.  You need a legal for trade scale, some system to keep track of things, maybe a POS system if you get big enough.  You need to train people and that's about it.  If you're willing to make that modest investment, my advice is always to try it and see how it goes.  If it doesn't catch on, you're not out a lot.  IME, WDF customers are not self serve customers, so if somebody has a very bad WDF experience, it's not like you're losing a self serve customer.  If you have a small bit of WDF business, I like the model where attendants eat what they kill, meaning they have complete responsibility, they keep what they charge and collect, buy supplies and put money in your machines.  And deal with complaints.

    I believe it's human nature, especially for newer owners, to want simple answers....If I do X, my business will increase by Y percent.  It doesn't always work like that.  Businesses aren't spreadsheets.  You do things to increase the probability your business will be more profitable, but there are no guarantees.  That's where the experience helps your odds.

    Lastly, I'm not dismissing any "enhancements" to a basic coin laundry.  I have tremendous admiration and respect for those who have made them work and have been successful.  I just believe that for newer owners, the fewer moving parts, the better chance for long term success.
    Juan, Hope Dorian keeps tracking north and misses you.

    ------------------------------
    Paul Kludt
    Multi Store Owner
    Lake Worth Coin Laundry
    West Palm Beach, FL
    ------------------------------

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  • 25.  RE: Best partners for growth?

    Posted 08-28-2019 10:07
    Edited by MICHAEL WALSH 08-28-2019 10:07
    Both Juan & Laura make worthwhile enough points for most of us to pay enough heed to.

    Just to add ...when there are failures whether it be related to payment systems or whatever ... there is something that we all can be guilty of.   That IMHO is too much pride to admit after setbacks or failures that we were too trusting ... falling for the latest hype &/or did not do a thorough enough analysis etc.

    None of us has a crystal ball ... even the best of plans can be thwarted by sometimes unanticipated problems not enough within our control.  Not just the problems that we actually do have the where-with-all to control.

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    MICHAEL WALSH www.kingkoin.com
    King Koin Laundry, Car n Dog Wash
    Bismarck ND
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  • 26.  RE: Best partners for growth?

    Posted 08-28-2019 11:43
    Hey all...I will happily add failures to this post...but you need to know that the failures are very similar to what you already experience running a self serve laundry...for example, staff doesn't show up for work, wdf orders got mixed up, security gate isn't coming up, leaky water hose, instead of angry customer yelling at you/your staff they are likely to do it over the phone/email/social media, mechanical issues, ...on the PRO side you have ​exponentially larger opportunity to increase your sales, wear & tear not as bad on equipment, not to much face to face interaction with customers, when your lease is up you can take the business with you etc ...From a pure ops perspective the major differences to me is more marketing,more staff to manage, profit margin not as good as self serve...

    Perhaps I'm not explaining it well; I am happy to organize a Q&A with a dedicated call-in number for all people to call-in and ask/discuss/politely challenge the validity of pickup/delivery. To me, both type of operations can cause you to loose your hair and give the same stress...so if that is true in your mind then why not go with what makes/greatest opportunity to make the most money?!

    20% of $5,000,000 is far better the 35% of $1,000,000

    Anyone interested in Q&A let me know privately and I'll set the date/time for it...


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    Rick Rome
    Owner/Operator
    WashClubTrak
    POS/Laundry Delivery Software
    New York
    Rick@washclubtrak.com
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