Stay ahead of the curve in the laundromat industry with these key takeaways from the latest “Laundromat News Today” episode hosted by Jordan Berry. Whether you are an aspiring laundromat owner or a seasoned operator, these tips will help you navigate the evolving landscape, capitalize on emerging trends, and maintain a competitive edge.
1. Stay Informed About Political Changes
Understanding the broader economic and political landscape can help you anticipate and prepare for changes that might affect your business.
Practical Application:
Follow News Updates:
Regularly read or listen to reputable news sources. Events like presidential elections can lead to policy shifts that impact small businesses, such as changes in tax laws or labor regulations.
Join Industry Forums:
Participate in laundromat industry forums or associations that provide analyses on how political changes might affect your business.
2. Embrace Technology and Automation
Technological advancements, specifically in laundry robotics and smart appliances, are set to revolutionize the industry.
Practical Application:
Invest in Innovations:
Look into companies like Presto and Laundry Robotics. Innovate your laundromat by integrating smart machines or automated systems that can increase efficiency and reduce labor costs.
Trial New Tech:
Start small by testing new technologies in one or two locations. For instance, trial the new “Roger” towel folding machine to gauge its benefits before a full-scale implementation.
3. Monitor Competitive Movements
Institutional investments in the laundromat sector, such as the recent 51-unit deal by Tide Laundry through KBP, signify increasing competition.
Practical Application:
Assess Your Operations:
Evaluate the current state of your laundromat. Ensure your equipment is up-to-date, your premises are clean, and your service is top-notch.
Enhance Customer Experience:
Focus on providing excellent customer service, competitive pricing, and added amenities like free Wi-Fi, a comfortable seating area, and vending machines to attract and retain customers.
4. Capitalize on Community Engagement
Laundromats remain vital community hubs where people gather and share information.
Practical Application:
Host Community Events:
Organize local events or sponsor community activities to build a loyal customer base. Consider events like book swaps, free laundry days for low-income families, or holiday celebrations.
Leverage Social Media:
Use social media platforms to engage with your community online. Share updates about your services, community events, and special offers to foster a sense of connection and loyalty.
5. Prepare for Industry Growth
The dry cleaning and laundry service market is projected to reach $14.26 billion by 2030, signaling strong future growth.
Practical Application:
Scale Strategically:
If you’re considering expanding, now may be the time to plan for it. Assess market demand, secure funding, and identify prime locations for new laundromats.
Market Effectively:
Invest in marketing to attract new business. Use digital ads, local SEO, and partnerships with nearby businesses to increase your visibility and customer base.
6. Up Your Game to Compete with Big Players
With institutional money entering the operator side of the laundromat business, it’s crucial to not rest on your laurels.
Practical Application:
Improve Operations:
Continuously review and improve your business operations. This includes staff training, equipment maintenance, and enhancing the overall customer experience.
Market Research:
Keep an eye on your competitors. Understand their strengths and weaknesses, and aim to offer superior services or unique value propositions to differentiate your laundromat.
By staying informed and proactive, you can navigate the dynamic laundromat industry successfully. Implement these tips to ensure your laundromat thrives amid evolving technologies, competitive landscapes, and projected market growth. Stay tuned for more insights and updates from “Laundromat News Today” to keep your laundry business ahead of the curve.
Do you have news you want to share or do you have a press release? Send us an email at [email protected] to be featured in the next edition of Laundromat News Today.
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Episode Transcript
Jordan Berry [00:00:01]:
Welcome to Laundromat News. Today, I am your anchor, Jordan Barry, and I’m here with all the latest and greatest in the laundromat industry. And listen, we’ve gotta start with the breaking news that Donald Trump has been elected as the president of the United States, and we will be following the implications of all that. He’s already starting to shake things up, with different appointees, to his team, and there will be implications for small businesses, across the nation. So we will be keeping an eye on that as more develops. And just on that same election note, I just found it interesting that there, were reporters who were doing research on trying to get a pulse on the elections, during during the campaigning times. And, there were quite a few reporters that were actually going out to talk to people at laundromats, and it’s just further evidence in my book that Laundromats still are a one of the few places left that communities gather together and share information and share life. So just, you know, I just wanted to throw that in there because listen, I love, laundromats and what is going on, in our industry, in our business, and what we get to have a part of shaping our our neighborhood.
Jordan Berry [00:01:23]:
So, with that, let’s move over to technology because a lot’s going on in technology right now. Big announcement by Presto, former guests of the podcast in episode 144. Nishant Thibault over there with Presto have signed a deal with WASH Multifamily, to start adding Presto machines along with, Wash Multi Families, washers and dryers in apartments and hotels and stuff. So very cool and very interesting partnership there. Congrats to those guys for, spinning that deal. I know their their goal is to take over the world and to be, have their preso machines all over the place. If you haven’t heard of preso, check it out. And also go listen to the episode with Nishant Thibault in episode 144, and we also have a live q and a on on the YouTube channel there somewhere.
Jordan Berry [00:02:18]:
So go check that out. Congrats to those guys. And also, a company called Laundry Robotics is still making waves. They are on a quest to automate, laundry, and they came out with a brand new, a towel folding machine called the Roger. It’s, got all the capabilities of their previous Robin machine, but it is smaller, more efficient. It has a quality scanner that’s internal as opposed to external. And, you know, we gotta be paying attention to this stuff here. I know a lot of this stuff is not happening in laundromats as of yet, but we’ve seen this happen over and over in technology as, the tech gets better, the robotics get more advanced, things start to shrink down, and all of a sudden you’ve got a preso machine or something like that, a dry cleaning plant that you can put like a vending machine in your laundromat.
Jordan Berry [00:03:13]:
So, you know, things are happening on the robotics, end of things in our business, and we’re not there yet. There’s, you know, I’ve seen some some attempts at, you know, humanoid robots folding laundry and stuff like that, but, you know, these these, progressions that that they’re making, I think they’re going to keep coming and they’re going to keep coming fast. So keep an eye on what’s happening in tech and in robotics in our business right now. Listen, we gotta we gotta go back to Tide Laundry. They’re making waves once again. KBP, KBP, is a, is a is a venture group. What are they? What? I don’t know. But anyways, they they own a portfolio of mostly restaurants, right now, and they just pinned a deal, a 51 unit deal with Tide Laundry franchise.
Jordan Berry [00:04:13]:
I’ve been saying this for a while now is tide is making waves, no pun intended, I guess. Tide is making waves in this industry right now. And this is this is, listen, you’ve got fair warning here. This is a big deal. 51 unit deal. This is institutional money coming into our business as owner operator. We’ve seen some institutional money coming in on the software side and the technology side. We haven’t seen too much institutional money starting to come into our biz our industry, on the operation side, but here it is.
Jordan Berry [00:04:49]:
It’s happening right now. We’ve been saying it’s gonna happen. It’s starting to happen right now, so we’ll keep an eye on that to see how it goes. But it’s fair warning for all of us owners, operators here, if we want to compete with these big boys, we’ve got to up our game. Okay? So it’s not the time to own a zombie mat anymore. It’s not the time to sit on your laurels anymore. It’s the time to make sure you are running a tight ship, and you are marketing your business well, and you are serving your customers well. Okay.
Jordan Berry [00:05:23]:
So big deal over there on the tide front, so we’ll keep an eye on that as that develops. And I wanted to point out one more piece of research that just came out that is predicting that the dry cleaning and laundry service market will reach $14,260,000,000 by 2030. So just further evidence, this business is alive and well, and I can guarantee you that that big number that ends with a b or starts with the b, the $1,000,000,000 number. It’s going to keep attracting more and more investors into our industry. So time to step up your game. You’ve heard it here. If you don’t do it and you get left behind, you will only have yourself to blame. Alright.
Jordan Berry [00:06:07]:
That’s it for Laundromat and Eads today, and we will see you next week.
Spanish Summary
En el episodio de hoy, el anfitrión Jordan Berry nos trae las últimas noticias de la industria de las lavanderías. Comienza con una noticia de último momento: Donald Trump ha sido elegido presidente de los Estados Unidos, lo cual tendrá implicaciones para las pequeñas empresas. Jordan menciona cómo los reporteros han visitado lavanderías para medir el pulso de las elecciones, subrayando el papel de las lavanderías como centros comunitarios.
En el ámbito de la tecnología, Jordan destaca un gran anuncio de Presto, una empresa que firmó un acuerdo con WASH Multifamily para incorporar sus máquinas en apartamentos y hoteles. También habla de Laundry Robotics, que ha lanzado una nueva máquina para doblar toallas llamada Roger, más eficiente que su predecesora Robin.
Además, menciona que Tide Laundry, en colaboración con el grupo de inversión KBP, ha cerrado un acuerdo de 51 unidades con franquicias de Tide. Jordan alerta a los operadores de lavanderías sobre la entrada de dinero institucional en el negocio y la necesidad de mejorar sus operaciones.
Finalmente, comparte una investigación que predice que el mercado de servicios de lavandería y tintorería alcanzará los $14,260 millones para el 2030, atrayendo cada vez más inversores al sector.
