There’s a lot of complexity involved with running a business sometimes. This is true of everything from service companies to restaurants or even entertainment businesses. One reason we dedicate so much time to business coaching is because it’s so common for an entrepreneur to get caught in the fog of managing every facet and detail.
With that in mind, how about a tangible example of some business strategies you could apply to a specific service sector?
Check out these effective strategies for running a successful dry cleaning business. This will give you an idea of what any entrepreneur should consider while running a company.
Dry Cleaning Businesses – First, Know What You Need
Needs Assessment for Specialized Equipment – Since not every dry cleaning company has the same client volume, they don’t all use the same cleaning equipment. Just like running a commercial laundry facility, the cost of machinery can be substantial, and you don’t want to overpay for something you don’t yet need. Sit down with your business partners and plan the scope of your operation, buy appropriate cleaning machines, and anticipate further growth in the future.
Low Labor Costs, But Certifications Required – You will need employees, but not as many as running a full-service restaurant or something with multiple skill sets. The harder part involves complying with EPA and OSHA regulations (since dry cleaning has plenty of them). Much of it pertains to energy emissions from the machines and the proper handling of cleaning agents. Once you’ve covered these essential components, don’t forget to buy or create effective marketing instruments like a company website, advertising signs, etc. You’ll also need plenty of dry cleaning supplies such as hangers, tags, garment bags, baskets, and so forth.
Ways to Drive Better Profits & Enjoy Success
Always emphasize quality service. Why does this matter so much? Well, there’s the concept of “reputation management,” which refers to the customer feedback you’ll get in online business reviews and even social media posts. If you take shortcuts on quality, it’ll be almost impossible to rebound.
Try to attract referrals through loyal clients. This is an essential tip for any service company. You will grow your operation exponentially faster if you can get your satisfied customers to mention you to their friends, family, and coworkers. Some companies will even offer free services or discount coupons for referrals or positive testimonials.
Pay attention to cleaning equipment maintenance (and corresponding costs). This is easy to overlook for fledgling dry cleaning businesses, but it’s a substantial expenditure. The machines will not last forever, so you’ll need to determine a way to project repair costs over time. It must include when you expect to replace major appliances.
Where to Find More Business Management Advice?
Hallmark Business Brokers helps Florida entrepreneurs run, buy, and sell businesses more effectively. Whether you’re trying to turn a small dry cleaning operation into something more lucrative, or sell a company and retire, we know how to make everything go smoother.
Hallmark Business Brokers is a past recipient of the Business of the Year award in Venice, Florida, which we’ve earned by assisting fellow companies buy, sell, and build value. You can learn more about how we do that by calling us at 941-445-4726.