One of the many questions we hear when helping both new and existing laundromat business owners is "should my site be open 24 hours?"
It's a good question.
The simple rule is : the more hours your site is open, the more revenue you'll generate. However, there are some extra measures you should take to ensure your laundromat continues to run smoothly in an unattended environment at night. Depending on your location and customer catchment, implementing these might not justify the extra opening hours. Because this is often such a case-by-case business, we recommend you get in touch so we can look at your specific situation, but here is our general advice:
The short answer... "it depends".
The short answer is that ultimately, it depends. It can be very profitable and great for your customers, it depends if there is genuine demand for it, and if you are capable and willing to create systems to manage it 24/7.
The long answer
This decision, like all business decisions, is a balancing act between the potential profits you'll make, and the costs to implement it. It is also a decision that shouldn't be made lightly, being open 24/7 is not right for every laundromat! Lets start with the profits it can unlock.
How going 24/7 can make you more money
The first, and most obvious point is that simply being open will result in greater profits, as more customers will enter the store in any given period. The numbers will obviously be lower than during the day, but it will almost unquestionably result in more revenue for your laundromat.
Being open 24/7 opens you up to a new group of customers as well as enabling existing customers to use it at perhaps more convenient hours for them.
Going 24/7 offers your laundromat a better edge over the competition in your marketing and promotional efforts. Psychologically, people take away the message that your laundromat is available anytime. This implies machine availability, which is a critical factor to building customer trial and loyalty.
Sounds great, but there are some extra costs and factors to consider before changing your laundromat to 24 hours.
The cost of being open 24/7
There are several direct costs to being open 24/7. The most obvious is in utilities, obviously, you will use more power being open for 24 hours. Its possible your insurance costs will increase as well, as larger hours means more risk. Lastly, there is a small chance of inconveniently timed breakdowns in equipment, although if you have a Speed Queen this is far less likely. You should also check if your lease enables you to operate 24/7 too!
Something that puts many laundromats off from opening 24/7 is the risk of crime and vandalism. No-one wants to wake up to find their laundromat covered in spray paint, or damaged. There are ways to mitigate this risk. Using cashless payment terminals effectively eliminates theft (there's nothing of value to steal!). Implementing cameras can deter any would-be vandals. The other factor to remember is that the locals will protect their laundromat. They rely on it. Anyone who damages "their" laundromat is making it harder for them to do laundry!
So, is it right for your laundromat?
Ultimately, to figure out if being open 24 hours is right for your laundromat, you need to ask a couple of questions. Will your laundromat break even or profit during these extended hours? Do you have the necessary facilities (employees, maintenance, lease, insurance...) to operate 24/7? Is there a risk to your laundromat, that you cannot mitigate, during these extended hours?
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