In our everyday’s busy schedule, it is a tedious job to manage the clothes as the process involves several consecutive steps like soaking, washing, rinsing, ironing etc. Not only the clothes, there are other household items that need to be cleaned. That is why; dry cleaning business has made our work easier by providing these types of labour intensive services. It has been quite in-demand and profitable business venture in recent times. Its popularity goes on increasing day after day. According to the U. S. Bureau of Labor statistics, as of May, 2015, the number of workers employed in this industry was 201,620 and it is expected to increase at a growth rate of 3% by 2022.
Are you considering laundry and dry cleaning business to gain financial stability? For your kind information, it is considered as one of the easy and less initial capital investment businesses. Sure, offering laundry services is no less than accepting a challenge but there are multiple facets of this laundry business in which you can engage yourself in and make a handsome profit. This includes dry cleaning franchise, home-based laundry, professional laundry showroom etc.
Laundry and dry cleaning business needs a great deal of professionalism. So it is highly recommendable to know and finalize the right type of laundry service you can offer to your customers before setting up the business. Here is the list of top 5 reasons for starting a dry cleaning business in your city
Top 5 Reasons to Start a Laundry Business
- Laundry business is convenient and easy to start.
- Requires less initial capital investment
- It can be started from your home which can be expanded further.
- It is one of the lucrative businesses these days as everyone has the time constraint. Many people consider it as wastage of time in laundering the clothes and so they always looking for this kind of services.
- You are the boss of your company. The biggest advantage of doing any business including laundry services is that you have full freedom to do the things in your own way. You have to take orders from customers only.
Points to be considered before starting a Laundry Business
Analyze your Financial Resources
The first and foremost point before starting laundry services is to review your financial strength. Though the dry cleaning business may not be capital intensive but it all depends on upon the scale in which you want to start. You may decide to go for a dry cleaning franchise to reduce the risk but this may result in less control over the business, less profit and additional financial liabilities like royalties and other miscellaneous expenses. Dry cleaning franchise is a wise option in terms of its marketing and risk factor as compared to another mode. In addition to this, you can start laundry service from your home if you have the little money in hand.
Prepare your Business Plan
A business plan is very important for the success of any business. You have to pen down the ways you like to run your dry cleaning business. Prior to the start, list down the services you will provide to your customers like pick-up and delivery, wash and fold etc. Also, determine the target market segment and demographics to start your laundry services.
Selection of an Appropriate Location
Business location is one of the prime factors to be considered for starting the dry cleaning business except for the cases in which you start your laundry services from home. This is because all your revenue and profit will depend on the location selected for the dry cleaning business. While deciding the operating space for your laundry services, you will look that it should be easily accessible and close the residential locality. This will attract number of customers who do not have time to laundry their clothes. Also, look that you should not open your laundry service store near to any of your competitor.
Purchasing of Necessary Equipment’s and Tools
Once the good office space is acquired, the next key point is to purchase the necessary equipments for your laundry services. This may include coin machines, dryers, pressing iron, washers, vending machines, detergents, starch etc. You may also choose for online sites where you may get a good deal in terms of equipment’s required for starting and running the dry cleaning business. If you opt for dry cleaning franchise then you don’t need to buy any of these equipment’s of your own.
Business registration is the must to start any business. Every local government has its own set of norms for registering a business. You need to check with local government officials to register your dry cleaning business and got the business license or permit. You need to check if there are any other formalities required to start the business like water pollution control, fire department permit, health department license etc. to start the business.
Marketing of Your Dry Cleaning Business
Once all the formalities have been completed, the last but not the least step is to market your laundry services in your locality. There are multiple channels available these days to advertise your dry cleaning business like print media, social sites, electronic media, banners etc. The best way to start is to place the list of services you offer in your laundry services along with some type of coupons for new customers. You can also introduce the scheme of discounted membership scheme to add your customer base.
In the end, we can say that if you are able to start your dry cleaning business in your locality in such a way that it is accepted by the local people then you may further open laundry service outlets in different localities of your town. It will not only increase your customer base but also convenient for the customer residing in far distant places to avail your laundry services.