Laundromat Closed Down

[tgifbos]

My closestest competitor (one block away) closed down today. He closed down because his lease was up and the rents have gone way up (it is good to own your own building) I think he wanted to retire.
I am hoping my revenue will increase from 10% to 30%.. but I guess only time will tell...

[Gary C]

do you know what type of equipment he has?
I am looking for some.
Gary

[TotoMongo]

My closestest competitor (one block away) closed down today.


Congratulations to you! May you see all his business and more!

Toto.

[ajay]

If you haven't done so already, make a big huge flyer and put it on his window marketing your mat!! The mall maintenance people might take it down, so have few extras - in color.

ajay

[pete f]

I think it is sad to see one of our own fall. I'm hoping the guy across the street from me bails when his lease is up for renewl in a couple years. Yes, you should get a portion of his business, until someone takes the spot over, revamps it, and competes against you again.

[Fred50]

tgifbos,

Why don't you approach the landlord? If the equipment is staying, it may be a cheap way to lock up your local market. Even if it doesn't make much $$, you will keep anyone else from doing it!

[laundryboy]

Better yet, negotiate a great lease and leave it vacant with signs to your other store. Think of it as marketing expense. Don't tell the landlord, though!

[MichaelCa]

wow, i like LaundryBoy's idea ! ... except i'd modify it by then sub-leasing it another type of business (even taking a small monthly loss to make it attractive), you'd still be miles ahead with your own increased revenue.

Back to reality-land:

I'd be very concerned with the current LandLord getting ideas - he may already be infected - people get the craziest notions: like getting in to the Laundromat business !

[laundryboy]

Sub-lease - That's a great idea. I would try it. I may even have the opportunity to try it!

[tgifbos]

I have gotten about at least 30 customers from the other laundromat (20 self, 10 WDF).
In my area the rents have gone up a ton in the past 15 years (when the guys lease started). I do not think a laundromat can go in there and survive with the huge lease payment.
I am guessing that a reasturant will go in there.. it is in a great spot for one..
I think the machines are maytag toploaders and I cannot remember the dryers...hmmm.. anyway, the machines are 15 years old
Anyway, I am a happy camper right now and tomorrow should be great!!! Looking for my best sunday every (last week is my best sunday)

[Anonymous]

I'd be very concerned with the current LandLord getting ideas - he may already be infected - people get the craziest notions: like getting in to the Laundromat business !

It's a good way to get into the business, and it's nice to own your own building... Worked for me!