8 Ways to Boost Your Laundromat’s Profitability Without Increasing Prices

8 Ways to Boost Your Laundromat’s Profitability Without Increasing Prices

With inflation through the roof, businesses and consumers alike are feeling the squeeze as they try to stretch every dollar. Laundromat owners, especially, are taking a hit to their bottom line. Not only are the cost of supplies, like laundry detergent and cleaning supplies, increasing, but utility costs, which already make up the bulk of a laundromat’s expenses, are skyrocketing. While the simple solution is to simply increase vend prices in kind, we suggest saving this as a last resort to avoid alienating customers who may be especially cost-sensitive in these challenging times. Instead, consider these 8 ways to boost your laundromat’s profitability without increasing prices. 

1. Increase Efficiency.

Modern laundry equipment is more energy-efficient than ever. If your laundromat relies on decades-old washers and dryers, you’re undoubtedly paying too much for utilities. Consider replacing your old equipment with newer models, like Dexter Express Washers and Dryers, which feature energy-efficient technology to use less water per wash, and high extraction speeds to slash dry times.

2. Operate at Capacity.

Any time a washer or dryer is not being used, you’re missing out on potential revenue. Focus on marketing efforts to grow your customer base or focus on targeted activities to attract students, families, and other target demographic groups to your laundromat.

3. Use Cost to Smooth Demand.

While increasing demand is good, making customers wait in line to use your laundry equipment is not. Not only do you risk customers getting frustrated and leaving, but you also miss the opportunity to serve even more customers and, therefore, make even more money. While we don’t recommend increasing prices across the board, strategic price variations can be useful to help keep your laundromat operating closer to capacity as often as possible. With advanced technology like the DexterPay system, you can easily use cost to your advantage, offering lower prices during slow times to help increase demand, and raising prices during peak times.

4. Optimize Your Floor Plan.

If your laundromat frequently operates at or near capacity, make sure you’re making the most of your existing floor plan. Replace standalone washers and dryers with Dexter stacked washer dryers that provide the same fast and efficient clean while effectively doubling your customer capacity, increasing your earning potential.

5. Expand Your Offering.

From comforter and bulky item laundering to fluff and fold service or laundry pickup and delivery, consider ways to use your existing assets to serve more customers. Most residential laundry equipment is not large enough to handle comforters and other bulky items, so even those with in-home laundry equipment need to visit a laundromat or dry cleaner to have these items cleaned. And while fluff and fold or pickup and delivery are often considered premium services, they appeal to a different demographic than traditional DIY laundry, providing a positive return on investment. By expanding your offering, you can appeal to a greater number of customers who would not have visited your laundromat otherwise, increasing your bottom line.

6. Upsell Your Customers.

Make it easy for customers to select upgraded wash and dry options, like high-temperature wash or additional rinse cycles, for a small fee. With proper marketing, you can entice many customers to select upgraded options, effectively increasing your cost per vend without having to implement sweeping price changes for those cost-conscious customers who prefer to stick with the basics.

7. Include Convenience Items.

Vending machines are an easy way to help attract customers while increasing your revenue. With snacks, beverages, and single-use laundry items available for purchase, customers will enjoy the convenience of having these items on-hand, while you’ll enjoy an additional revenue stream for your business.

8. Avoid Equipment Downtime.

Out-of-order laundry equipment means missing out on potential revenue, frustrating customers, and paying expensive fees for repair services. Keep your laundromat’s washers and dryers running optimally by keeping up with proper preventive maintenance. Work with a trusted equipment provider, like Worldwide Laundry, to keep common OEM replacement parts, like belts and gaskets, in stock for easy replacement and partner with a trusted laundry equipment repair provider for more complex repairs.

Whether you need replacement parts and equipment repairs or you’re ready to retool your laundromat with more efficient washers and dryers, Worldwide Laundry can help. We even offer convenient financing options to make leading equipment accessible to any coin laundry business. Contact our experts to learn more about how we can help increase your laundromat’s profitability without raising prices.

Ready to boost your laundromat's profitability?

Contact the experts at Worldwide Laundry for efficient and budget-friendly products and solutions today.