If you’re in the dry cleaning business, you know it’s getting tough. Workplaces are becoming increasingly casual and even for those who do still dress up, more and more garments are being made with synthetic fibers that look upscale, but wash easily at home. As a result of this cultural shift, as well as increased regulations on the chemicals you use, dry cleaners are steadily going out of business. However, just because you’re facing some challenges doesn’t mean you should throw in the towel. Incorporate these three ways to increase your dry cleaning business profits to ensure that your business survives, even when your competitors don’t.
You may have fewer customers than you used to, so you need to reward your most loyal clients with incentives to stay loyal to your business. If you haven’t already, now is a great time to implement an attractive loyalty program to increase your dry cleaning profits. This could be complementary services after a certain number of visits or points reached, or special services you only offer to your top customers for an elite or exclusive feel.
It’s not only more expensive to reach new customers over retaining existing ones, but loyal consumers simply spend more. The data for loyalty programs can either be accessed purely through your POS system or with a physical card that the customer holds on to.
To help keep track of your client’s needs and build increased loyalty overall, create detailed customer profiles with the information and preferences needed to create a personalized, VIP feel to your services.
Tighten up your Spending
Use your POS system to manage payroll and track peak times to avoid over or understaffing. Inventory management is also extremely important to keep spending in check. Though you don’t need to worry about perc “going bad” like a restaurant needs to worry with fresh produce, you still shouldn’t be using storage space and or tying up funds if you’re not going through it on a fast-enough basis. You’ll also want to track other items like starches, different sizes of bags, customer labels, and hangers, so you never run out.
Make a Substantial Shift
Sometimes you simply need to make big changes to stay afloat. Invest in revamping your store’s appearance to make it more modern and appealing or consider adding delivery to your offerings. These are both fantastic ways to set your business apart and create that VIP experience loyal customers crave.
And if you’re looking to put your money toward the future of the dry cleaning industry, consider investing a surplus or small business loan from your MSP into more environmentally-friendly cleaning alternatives like liquid silicone or CO2. Younger generations are more environmentally conscious than their predecessors, so switching to “green” alternatives is a good way to gain their business, as well as provide excellent ROI once the initial equipment is purchased.
Whether it’s help choosing and implementing the best POS system for your business, starting an effective loyalty program, or getting the funds needed to make the substantial changes you need to succeed in a suffering industry, a trusted merchant services provider is there to help you.
Contact Holman Business Services today for the personalized guidance and tools your dry cleaning business needs to thrive.