In today’s episode, we discuss the long process of finally getting our second laundromat open. We talk about balancing this opening with other current projects, such as filing a patent, finalizing our website, figuring out financing for a new franchise, Facebook advertising, and getting our product of wood-shelf kits back on Amazon. We cover the importance of having a soft opening for at least 3 weeks, and different strategies (like discounts, quality guest service, presentation, and advertising) for exciting the customer during this time. We discuss our model of employee training which prioritizes customer service, as well as advertising strategies and tying up loose ends for opening days. We talk about details such as point of sales systems, security systems, audio/video systems, payment systems, vending machines, and re-circulators for hot water, among others. We then take a look at the growth rate of our monthly revenue in our business plan.

-Balancing With Other Current Projects 1:16
-Soft Opening of Laundromat #2: Guest Services and Bringing Customers Back 6:39
-Configuring Pricing and Advertising 15:48
-Anticipating and Resolving Problems During Soft Open Period 18:56
-Monthly Growth Rates and Ramping up Reviews 25:50

“So, first week revenue, day no. 1 that we opened: $3.75. That’s right. Get the party started. Got that thing going. Day 2: $60. Day 3: $53. Day 4: $67. I don’t really care...we’re open, right? and now you build from here. Here’s what our model says: So, our revenue--I call this month 0, so month 1 will be January--and we should do a total for the whole store $7000. And of that, $6000 is coming from the laundry equipment.” 25:50