MrLaundromatLaundry & Dry Cleaning
For one leading local laundromat, success came with a dissolved partnership that threatened to reduce market share.
Our effort with this client was encouraging MrLaundromat to always count on external team business knowledge. The owner knew that to grow his business he needed first to dissolve a partnership, invest in technology, and seek ongoing professional help to help the business grow. Additionally, the accounting systems desperately needed to be updated. He turned to wEquipu to walk alongside him on his business journey.
Our 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 know until you discover and take actions to implement what you didn’t know. Most of the work was being recorded manually. As a result, the numbers took a long time to write down and then to be analyzed. Real-time data was not available and impacted timely decision making. The vision for business growth was not clearly defined. Our journey with MrLaundromat addressed three critical issues:
- Improved the online business presence to increase sales :
After dissolving the partnership and rebranding the business, our team focused on MrLaundromat’s online presence as part of our lead generation and conversion strategy. We then reassessed the business model for more visibility online, and completed the audience research in order to define areas of needs of the target market.
- Optimized 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 suggests each service is continually reevaluated for units margin and better decision making. With a streamline accounting approach, each line item is watched closely to guarantee optimum profit margin through adequate KPIs and sales figures. Budget planning and mapping actual versus forecasted sales allowed growth potential.
- Team building for business expansion:
With a new vision for the owner, the right team was necessary. Our diagnostic evaluation determined the factors undermining productivity that were affecting sales and service quality levels. The team focused on fixing issues related to team building and compensation plans. Procedures and training were provided to equip key players.
The solution wEquipu brought in combined business reputation management along with sound marketing strategies. This included better profit margin allocation to increase profit. We also branded the business as a cutting edge technology laundromat by updating all of the washers and dryers to high tech machinery. We redesigned MrLaundromat’s marketing materials and improved the company’s online presence with the company website, online ads, and business directories. By optimizing the client online presence for search engines, the client has been ranking on the first page for “Best laundromat in Garner”.
With consistent analysis of operating expenses and informed investments, the business expansion model was underway. The team incentive plans worked well and guaranteed a stronger involvement from the right team members while taking away disruptive actions from negative team members.
The process with wEquipu allowed the owner more time to be visionary and focus on opportunities to grow sustainably. The workers’ involvement in the growth enhanced the feeling of being part of a successful journey. Implementing technology tools also played a huge part in bringing this company up to date to allow real time data for more timely decision making.
MrLaundromat is now empowering everyday team members for more ownership of business growth. The business relies on wEquipu’s ongoing business advice to expand. A better online presence was built to improve the company reputation and secure a higher customer service experience. A good percentage of leads are coming in from referrals due to an improved reputation. Decision making is more calculated rather than made on the fly with operation data traceable in real time.
The effort vastly improved MrLaundromat’s expansion strategies and executive functions with concise KPIs to create and implement the right sustainable business growth.
By partnering with wEquipu, MrLaundromat was able to:
- Reduce negative reviews by 73%
- Decrease operating expenses by 53%
- Increase ROI by 92%
- Increase sales figures by 68%