MrLaundromatLaundry & Dry Cleaning
For one leading local laundromat, success came with a partnership dissolved, overcoming undesired business partner unethical practices that threatened to reduce market share.
Our effort with this client is helping MrLaundromat to always count on external team business knowledge. The owner knew that to grow his business; he needed first to let go of a partner, leverage on technology, and seek ongoing professional help during the journey. The accounting systems needed to be much more accurate than what they were. He turned to wEquipu to walk alongside him in his business journey.
The biggest challenge was that MrLaundromat was in a non-productive partnership with no plans and systems for sustainable and scalable growth. You don’t know what you don’t until you discover and take impeccable actions to implement what you didn’t know consistently. Most of the work was still being recorded manually. As a result, the numbers took a long time to note down and then to be analyzed. Real-time data was also not available and impacted decisions made previously. The vision was not clarified to define the business growth with the end in mind. Our journey with MrLaundromat addressed three critical issues:
- Improve the online business presence continually for more sales:
Following the business rebranding, after the rough partnership dissolved, our team focuses on MrLaundromat online presence as part of the lead generation and conversion strategies. Reassessing the business model and the market research to define areas of needs and services to provide.
- Optimize pricing and unit cost analysis for more profit margins:
With hundreds of households in the local area and commercial accounts available in the marketplace, MrLaundromat needed a proper method to price services. The use of the units economics approach allows that each service is continually reevaluated for units margin and better decisions making. With a streamline accounting approach, each line items is watched closely to guarantee optimum profit margin through adequate KPIs and sales figures. Budget planning and mapping actual versus forecasted sales allow growth potentials.
- Team building for business expansion:
With a new vision for the owner, the right team is necessary. The diagnostic determined the factors undermining productivity and thus affecting sales and service quality levels. The teams focused on fixing issues related to team building, compensation plans. Procedures and training were provided to equip key players better.
The solution wEquipu brought in combined business reputation management with sounds marketing strategies, including better profit margin strategies allocation for more profit. The branding goes all the way from cutting edge technology equipment, marketing collateral, and online presence. With the consistent analysis of operating expenses, informed investment, the business expansion model is underway. Team incentivization plans guarantee a stronger involvement from the right team members taking away disruptive actions on the whole organization in a negative way.
The process with wEquipu allows the owner to get more time and be visionary and focus on opportunities to grow sustainably. The workers’ involvement in the growth enhances the feeling of being part of a successful journey with leverage on technology.
MrLaundromat is empowering everyday team members for more ownership of business growth. The business relies on wEquipu ongoing business advisory to expand. A better online reputation built with a higher customer service experience. A good percentage of Leads are coming in from referrals and good reputation standing. Decision making is more calculated rather than made on the fly with operation data traceable in real time.
The effort vastly improved MrLaundromat expansion strategies and execution functions with concise KPIs to create and implement the right sustainable business growth.
By the numbers, the effort :
- Reduced bad reviews by 73%
- Decreased operating expenses by 53%
- Increased ROI by 92%
- Increased sales figures by 68%