Laundry Owners Warehouse, is a “One Stop Shop” with over 74,000 replacement parts, a full line of soap and supplies, and a wide variety of used commercial laundry equipment, all in stock and available at LOWlaundry.com.
Laundry Owners Warehouse also sells new commercial laundry equipment and is a proud member of the Dexter Laundry family, “Made in the USA” since 1894.
Knowing how your business is performing is crucial for excellent operations.
I had a great exchange with a laundromat operator here in New York and our conversation turned to the KPIs we are tracking.
Even though we switched over to a service-only model a couple of years ago, I figured in this issue we would share some of our KPIs and KPIs from other great operators I know.
Here are a few KPIs to help you assess various aspects of your laundromat's operations and make informed decisions to optimize performance:
Track your total gross revenue as it indicates the financial health of your business. It allows you to monitor the overall income generated by your laundromat and identify trends over time.
Average Revenue and Expenses per Machine:
This KPI measures the average expense & revenue generated by each machine in your laundromat. It helps you identify the most profitable machines and optimize pricing strategies. I shared more details on this in a previous editorial.
Machine Utilization Rate:
This KPI measures the percentage of time that your machines are being used. Monitoring this metric allows you to identify peak hours and allocate resources accordingly. Increasing machine utilization can lead to higher revenue and efficiency. Sorry, if you don’t have some type of card/electronic payment system this might not be an option for you. Would be hard to track with coin only.