Looking for best way to build business back

[rkm]

I recently purchased a 4000 sq ft laundry w/ drop off. It is the cleanest and nicest laundry in the area. The prices are in line w/ area competion. Two months before I purchased it, the income was twice the amount. The owner had to sale.I bought it with hopes of rebuilding the business. It is mostly latino customers. What are some things that I can do to bring them back?

[Buddy_Amoroso]

Why has the income dropped? Is it seasonality? Or did the Seller misrepresent the numbers to you?

buddy amoroso
baton rouge

[DuboisLaundry]

Why did the previous owner "have to sell"?
Where did the old customers go, and why?
If you are not bilingual, get attendants who are.
Get a bilingual banner "new owner" is english and spanish.
perhaps run a coupon in a local spanish language newspaper.

[rkm]

The previous owner got transfered. I dont think that he misrepresented the #, I have copies of his last two years W/2,deposits etc.The utilities have dropped tremendously over the last 2 months. My attendent is bi-lingual and is wonderful. I am running ads in all the papers,what else can I do? I appreciate any/all input.

[detlaundry]

First figure out where/ why customers are not coming in. There must be a reason. New mat, seasonal customers, competition dropped prices, new owner scared off customers, etc???????

There is a reason. Your customers have to be doing their wash somewhere.

[Walter]

In my opinion, as others have suggested, it's important to find out why your income has dropped. First likelihood is seasonality due to weather (more clothes line drying in warm climates in summer) or work flow. If the crops have been picked, migrant workers move en masse. Also, has another large mat just opened or been renovated nearby, or has a large construction project just closed down?

In buying the mat, did you perform coin observations to confirm reported income? Even if you did, there is always the unpleasant possibility that the seller salted the boxes.

The water analysis is key. If your water usage has dropped tremendously, also check to see if your gas usage has dropped proportionately. In most laundromats washer/dryer income ratios are very steady month to month with the exception of seasonality due to weather. If your therms usage has remained fairly steady although your water usage has dropped significantly, then there's a good chance someone has been running the tap after hours to boost water volume.

Worst case scenario: IMO, in this case you should consult an attorney immediately. A good forensic analysis of washer/dryer utility volumes will stand up in court if you have to sue for fraud. You'd be amazed how many lawsuits the major brokerage houses have to contend with, and how many they lose...

Walter