What To Look For When Buying a Dry Cleaner?
Dry cleaners are a self sustained industry that generates repeat business and loyal customer bases that are not only beneficial during the owner’s tenure, but also add value to the business at the time of sale. Follow these tips to find the best possible investment opportunity when you buy a dry cleaner.
Before beginning any negotiations with sellers, perform a local market research to see which option benefits you most: privately owned or franchise. Each option has its benefits and challenges, but having a clear understanding of each will guide you into an investment that makes sense for you.
Finding a Strategic Location
When buying a dry cleaner, having a good location will make a significant impact on your success. Having a location that is easy to find for customers and that will also attract potential walk-ins is essential. Scout nearby dry cleaners and analyze the average traffic on the location.
Once in negotiation with a seller, make sure you inspect the condition of the equipment, ask for any maintenance receipts or proof, and ask any questions necessary regarding repair costs, maintenance costs and others. This will give you a clearer perspective on the business overhead.
Fortunately, dry cleaners don’t need employees that are too tech savvy or level of expertise in a particular field. While this is good for overhead, it may not be so good for reliability and longevity in your team. Ask the seller for employer records to get a full understanding of average employment periods, average hourly rates, and more.
Although reputation is something that can be fixed overtime, it is not recommended to buy a business with a pre-existing bad reputation. When looking at different dry cleaners, make sure you analyze all aspects of the business’ reputation. A good place to look is online in directories such as Yelp, Yellow Pages, Google reviews, etc.
Why Jan Wild?
If you are interested in buying a dry cleaner, contact Jan Wild for professional help with over 35 years in the industry. Jan will help you find a smart investment that makes sense for you.