Too much business??

[Lar Hylobates]

Here is a serious question that I am sure only a few will truly understand.

My laundry has undergone a transformation in the time that I have owned it. I have pumped money into it and have continually increased business since day one. I have remodeled, doubled capacities, both washers & dryers. It is a freaking goldmine, but still on the weekends you cannot even get into the door it is so crowded.

I still have the ability to increase both washer and dryer capacity further by ditching more top loaders for fronts and changing single pockets to doubles without losing floor space. I have mostly newer machines now and the store really looks good and runs well. The only reason to change machines would be for capacity. The problem is I think I might not truly be able to get anymore bodies in the door as my 2300 sq.ft. is full of people and carts. The isles are only 4-5 feet wide!

Should I continue to grow knowing that there really is no comfort room for my guests or should I just relax and enjoy the rewards of a "maxed" store by raising prices high and above the competition to weed out the fleas as I would in other supply and demand scenarios? I am already the price leader in my highly competitive area and only second of 4 in gross sales.

Oh yea, please save the "I wish I had your problem" comments for your monkeys.

[JeffLange]

I had a similiar "problem", I decided to raise prices to weed out the "trash". The result was no complaints about the increase, no loss of customers, just more profit for me.


I luv my monkeys.

[Anonymous]

That's a difficult question. Obviously it would be nice to extract more revenue from the place by adding equipment - but if it gets too crowded then people may leave. One option might be to either add computerized equipment or a card system that would let you charge time of day pricing. You could raise prices at peak times and get more money from those unwilling or unable to shift to non-peak times.

[soaps]

You haven't said what kind of setting you are in (urban, rural) or how many competitors you have. This makes a difference in your next move. However, no matter where you are, if you are making this kind of money SOMEBODY will notice and a new store will go in. So, depending on your situation
1. Open another store
2. Change locations (find a bigger spot)
I also think the other suggestions on the board were great. If you are not the only guy in town, are you the cheapest? If so raise your prices immediately as you are only running your equip down faster. Whenever things get this busy, it's time to raise the prices (supply & demand). Likewise if you have money to invest a card system would give you some options you don't now have. And adding stack dryers is a given.
I'd really consider opening another store if you can tho, or somebody else will and you'll be sharing the pie with somebody else.

[Lar Hylobates]

Thanks for the input, I have described my store many times in the past, but here goes again.

My store is in the middle of Los Angeles, Mexico. I have one store of a total of 4 within 4 blocks. My store is number two with respect to beauty and newness, but I am already the price leader since my last increase only three months ago when I put the new dryers in, in an attempt to weed out the trash.

I feel my location is slightly better than my most immediate competition, but his store still does at least 50% MORE business than mine due to the newness of it. It is only 2.5 years old.

I think that someone have to have a serious set of balls to come in against 2 top stores and 2 half ass stores in such a close proximity regardless of the amount of traffic.

I worked up a $180,000 upgrade last night that would probably give me an overall of 20% more capacity accross the board without hurting the floor space and possibly improving it. The cost, however seems prohibitive as I really believe it will be difficult to put any more bodies in there.

My wife says I should sit on it and buy another one, and I actually give her credit this time.

Anyone ever heard of or seen two laundromats in the same 12 door strip mall. I am sure I could get a space in the near future and what better way to expand?

[Anonymous]

I saw two large ones three doors apart once - don't know how they did volumewise.

[anonymous]

Ideally If you can get the store space next door and make your existing space bigger you will save on Rent and have room for expansion. Better than operating two stores with double overhead and esentially competing with yourself. Better than moving your existing MAT since your location is good

[Lar Hylobates]

Yes, it seems that of all the tenants the ones on both sides seem to be the most stable. I think I will stick with my wife and buy another one somewhere else before doing something bizarre like opening another in the same center.

[pete f]

I do not have seating in my busiest mat, I make them sit outside, or they can move chairs around. It is cheek to cheek to cheek at times. Enjoy your fruits, edge up price a couple machines maybe, try to buy out the nearest competitor then redo that store.

[vohraajay]

If I was in your described shoes, I would try to look at the operation and see how I can further fine-tune it to get people in/out faster. With the different types of customers, you could buy few water extractor, hotter dryer - get people in and out faster. You could promote dry and fold service for customers who cannot afford the wash/dry fold service, but don't want to wait for machines either. Your commissioned employees can call them when their laundry is done. You can also maximize on your cost by getting rid of few top loads - replacing them with Front loads - but still charging more since you're providing a overall value(customer service, speedy laundry). Although seating area is nice to have, I think customers would appreciate the fact there's no waiting for machines. You could also hire employees to help customers get their clothes out faster from machines and dryers.

Having said that, I sincerely do wish I had your problem - not for the purpose of making money - but for attempting to try out mine an others' listed ideas.

Ajay

[Julia]

I to have a problem with to many people at one time. Some days theres not enough and then on weekends there is too many. We just bought this laundry mat 6 months ago and at frist we couldn't beg the people in. Now we are running out of places to put them. We have 24 top loaders and 4 double loaders then 1 triple. The problem is we only have 11 large dryers and 4 small. With no where to put any others. The people who come are just glad to have someone around to help with out getting yelled at. There are 4 other coin laundry mats and 1 that some is there all the time. What ccn I do to make things better for them and us? I would like to please the people who are feeding me and my family.

[CharlieS]

Time to start thinking about some new stack dryers!