Laundromat Resource Forums Laundromats Who can study a market and suggest store size ? GO – NO GO suggestion

last updated by Oliver Parson 2 months ago
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    • #4859
      Emerson
      Participant

        Any suggestions on who / what company could:

        1) study a market and make a suggestion on whether to build a new mat ?

        2) If the answer is yes offer a suggestion on store size or more specifically is a store size too large for the market

        3) Projections based on store size

        I would want an independent party that understood I am not asking with the prospect of buying equipment from them/ building a store with their company in that particular market.

      • #4861
        Sherrie Myers
        Participant

          WOW! What a loaded question. There are so many considerations. A good Laundry Consultant could defiantly steer you through the process. I would jump on Youtube and see who is posting information and decide on which one to hire. Consider location of the consultant as it seems like there are wide variations in laundry business based on area of the country. East Coast, West Coast, Mid west, New England, Urban and Rural all directly impact size.

        • #5118
          Ryan Foster
          Participant

            Emerson

            I would suggest buying an existing small location that needs a rehab 1st. Get your feet wet and see if you like the laundromat business first before making such a huge financial commitment only to find out its not for you.

          • #5246
            Emerson
            Participant

              Ryan,

              I hear ya, and my thought has been to find an existing location.

              However, I rarely see mats (very rarely) come up for sale in the state and certainly not within a couple hour radius. When I say rarely I am talking in time frames of years.

              In the past I have talked to owners, sent letters, left notes.

              Recently I have left my information with all the nearby distributiors in the chance they have a customer or contact wanting to sell a store. The distributor I am talking with about building a store does have store close to me that he would sell. It is not a growth market, small population but could be a steady Eddie. He was not trying to sell it but I called asking.

              Related to size I have found it takes just as much time and energy to run a small operation as a it does to run a larger operation. But as you mentioned large is a larger financial commitment and new does not have an existing customer base along with other unknowns.

            • #5279
              Ryan Foster
              Participant

                Emerson

                where are you located?

                Be aware you should always have the mindset when working with a distributor is ..their goal is to sell you as much equipment as they can for the highest price. They are a good resource and some are better then others but for the most it’s all about selling you or the next guy equipment. You should always quote them against another competitor.

                Another good approach to finding a store is developing a relationship with the local equipment repair service. They have a wealth of knowledge on what’s stores are good and what owners might be ready to sell.

              • #5289
                Emerson
                Participant

                  Ryan,

                  What you just mentioned about mindset related to the goal of pushing as much equipment as possible is exactly why I mentioned I would want someone to evaluate that was not trying to sell equipment and or build a store with them.

                  Your post is a healthy reminder.

                  To that point I see what you described as a common cause of failure in another industry. Meaning a distributor sells too much of the high priced equipment and overbuilds a facility to someone entering from outside the industry.

                • #5318
                  Emerson
                  Participant

                    10 Minute Drive. 15 Minute Drive
                    Renter Households 1,268 2,166

                    Households under 25k Income 971 2,042

                    Non-renter Households 2,261 5,232

                    Trailers/Mobile Homes. 283 512

                    Total Population 9,500 20,000

                  • #5321
                    Emerson
                    Participant

                      ^^ I should find a better way to post in the format I was attempting.

                      Renter Households 1,268 (10 Minutes) 2,166 ( 15 Minutes)

                      Households under 25k Income 971 (10 Minutes) 2,042 (15 Minutes)

                      Non-renter Households 2,261 (10 Minutes). 5,232 (15 Minutes)

                      Total Population 9,500 (10 Minutes) 20,000 (15 Minutes)

                    • #5322
                      Emerson
                      Participant

                        I butchered that posting format, but those are the factors listed by CLA commonly used in the various market or demographic evaluation methods.

                        A couple of items I left out above:

                        1 existing store in the market, about 2 miles from potential new build site.

                        Next closest stores are just over 20 minutes away.

                        16% Hispanic population

                        Anyone care to take a stab if that market is big enough for a second mat ?

                      • #5356
                        Jason Dodge
                        Participant

                          I’m personally more hands on in that I would have to drive the neighborhood and get a feel for it. Population, renters, low income families, family size are all important factors. So I guess I would see how much business is available based off of known laundromat assumptions. Once you have a revenue projection, then you can begin to see how big or small of a laundromat you need to fill that need.

                          You don’t really want to tell anyone where you are so I think it’s tough for anyone to point you in the right direction and give you a possible referral. Maybe take Jordan up on his free phone call. I honestly only know my market.

                        • #5360
                          Ryan Foster
                          Participant

                            Emerson

                            I agree with Jason. I only really know my market.
                            Based on the info provided it appears you are in a rural or semi rural area. Personally I would not be interested..but that’s just me. Does not mean it could not work for another operator.
                            You are going to have to do some boots on the ground work. Go sit on the current open laundromat.
                            What condition is it in? Is it a dump or well maintained?
                            Thursday – Monday are ppl waiting for washers and dryers?
                            Pull the water bill for the open laundromat..should be public record.
                            If the answers are
                            Yes it’s a dump
                            Yes ppl are waiting on washers and dryers
                            Yes there water bill is a good amount
                            Then there is prob room for another laundromat to better serve the customer base.

                            Sorry did you say your looking for property or just lease space?
                            If it were me..I would approach current owner and attempt get a dialogue going about selling you the business. Never know they might be ready to walk. Either way if you do move fwd with another location near by they will find out. So why not give them a shot walk away. Always potential the area can not support 2 mats. Lil bit of a poker game.

                          • #18676
                            Piter Town
                            Participant

                              What’s your problem with gambling? Why do you discourage people from doing it? Everyone has their own head. Let them play what they want.

                            • #18677
                              Piter Town
                              Participant

                                wow

                              • #18679
                                Oliver Parson
                                Participant

                                  Of course, I’m no expert in construction work, but I’m a real gambler.

                                • #18696
                                  Oliver Parson
                                  Participant

                                    What’s your problem with gambling? Why do you discourage people from doing it? Everyone has their own head. Let them play what they want. I’m a gambling man, and those words were the first thing that caught my eye in the whole sentence. I know many people who also play poker and other games of chance. And I don’t see anything wrong with it. If you’re a gambling man, too, we can play together. Just for starters, check out the gambling reviews. Here you can find all the information joe fortune bonus codes. I wish you good luck in improving your skill in this business.

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                                Laundromat Resource Forums Laundromats Who can study a market and suggest store size ? GO – NO GO suggestion