New competition

[Dodgeball]

I am new to this forum, but I have been reading for quite some time. I have been a laundry owner for about 2 years. I am seeking advice because I have a new laundry being built about 1/2 mile down the road from my store.

The last 2 years have been great, I have made many cosmetic improvements, experimented with different types of advertising, learned how to fix most common problems and have increased revenues by 25% since I took ownership. This has been one of the best years of my life so far, I have learned a ton.

I knew I would face a challenge such as this at some point, I just was hoping for at least 5 years under my belt before it happened.

From what I know, this is an out of state multiple store owner. I am going to assume he is paying cash and is a successful owner operator.

Is their anyone out there who has had this happen to them or anyone who is opening a new store that can share some info as to what to expect for a grand opening. I would like to know what they may do as far as advertising and promotions. I would also like to know if anyone has lost business in this situation and what they did to get it back? I am an attended store and I am assuming he will be also.

I have a plan in place that I can discuss, however I didnt want to make my first post to long. Any help is appreciated.
Thanks!

[live1phish]

a clean store, machines all work properly,great customer service.i think you should be ok. Hes gonna have a big nut to crack every month.

[mike]

I have a plan in place that I can discuss, however I didnt want to make my first post to long. Any help is appreciated.
Thanks!


I would also get a plan in place that I COULDN'T discuss :-)

But, seriously,

let them make all the moves first,

don't respond untill you have a clearer picture.

Find out about his lease.

If he is really an out-of-town large operator, maybe you can play the

"I'm a local guy card"

We are all at the mercy of "deep pockets",

whether they know what they are doing or not.

Don't discount except as A last resort.

Patience, and keep us posted.

[pete f]

Expect to loose 25% to 30% of your business, that is what they plan on, and from my experiance, will happen. tough nut to swallow. but if it makes you feel any better, I have had much worse. just keep chugging forward.

[Kitty]

You definitely have to plan prior to his opening, capitalize on your strengths and promote loyalty.

staff training is essential to your success. Your employees should be trained so they are an extension of what you are trying to provide to the consumer. Be sure your employees are #1 Pay those that are at the top percentage of the employee pool, reward dependability and CSR skills.

kitty