People often aspire to run their own businesses in Singapore. Laundry business is a favourable option because it offers services related to one of the basic needs of man. Laundering of clothes is an everyday affair so an entrepreneur is guaranteed of ready market. However, there is potential cut-throat competition in this industry. A new operator ought to set their own standards higher than the ‘old dogs’ to succeed. Once the business is set up, it will be running in no time. Below are some fundamental steps that one ought to take in order to successfully establish their business venture.
• Business ideas are only worthwhile if they are put down on paper. If one is interested in starting up a business, they ought to come up with a business plan. The effort will motivate them to actually realize their aspirations. The plan needs to incorporate the type of operations that will be undertaken by the entity. These operations should respond to a supply gap in the market. Consider an area that is not well served by laundry services. On introduction of the new business, the residents will be able to access the premises with convenience. In case there is adequate provision in an area, it may take longer to rip the benefits because consumers have a variety of service providers to whom they can turn to.
• The location of the business is also a key issue. Customers should access the premises with ease. Ample parking space ought to be available to cater for clients streaming in and out to bring their clothes for washing and those picking their already laundered clothes. A secure environment is also good for the entrepreneur and the customers too. No one wants to go to an area with insecurity issues. Water should be readily available to ensure customers’ clothes are cleaned in good time. Electricity also adds up to the equation because laundry equipment requires a working electric connection. On the other hand, the drainage system ought to be in good working condition so that waste water does not cause any hazards.
• Laundry business uses a lot of equipment. The capital ought to be enough to be able to facilitate purchase of these items. There is an option of leasing equipment but in the long run, it always turns out to be an expensive option because the rental payments will always be payable as per the agreement. The main equipment include: washer, driers, coin machines and detergent vending machines. Once they are purchased, the business is as good as started. The manuals should be read carefully to avoid any damage on the machines. Warranty documents are also to be stored carefully in case of any breakdown within the prescribed time to facilitate replacement.
• The business has to be registered with the relevant authority in order to be recognized as legitimate. A license from the health department and a permit from the fire department come in handy. The sewer connection ought to be activated and water fees paid. Without the permits or licenses, the business entity will not be considered as lawful and this may lead to certain legal consequences.
• The entrepreneur should then start looking out for employees who will help to run the business. It would be good to carry out interviews having in mind what attributes are required of the personnel. They should be literate in order to carry out their duties. Since they will be dealing directly with the customers, they ought to have interpersonal skills and be able to relate well with them. Courtesy is another important aspect that may win the hearts of the clients and make them feel welcomed. When the right people have been found, the business can finally take off.
• On opening the new premises, a lot of marketing has to take place. It serves as an avenue of informing prospective customers concerning the laundry services available. Fliers can be distributed to people to create this awareness. This will work as a boost to the sales and thus there is a chance to create a good rapport in order to retain customers.
With these tips, starting a laundry business in Singapore just became easier. Individuals can commit themselves to following the guidelines and in the end, meeting their targets.