It might seem easy for passive income businesses like laundromats to start one and let it run. However, when we talk about expansion, there are some key points that must be integrated to avoid making big mistakes. Joel has shared his experience with us, and hopefully, he will provide you with some insights before you make such a decision.
A short introduction about yourself:
My name is Joel, and I'm from the Philippines. I have been involved in the laundromat industry for four years.
What was your motivation for starting this business?
Well, my motivation was essentially to have another source of income that's more passive and not as time-constraining or time-consuming as the other businesses I've been involved with.
What do you expect to achieve this year?
For this year, we plan to add at least 3 to 4 more branches by the end of the year. We are currently expanding all over the Philippines, reaching other provinces and cities.
How do you properly manage branch expansion?
The main point is to acquire and implement the right tools, processes, and personnel. We've found that trying to manage numerous branches manually can lead to chaos and excessive time consumption.
What is the philosophy behind your laundromat?
It's a combination of being customer-centric, emphasizing product quality, and promoting teamwork. It's essential to address the concerns of each segment of the business correctly. Focusing solely on one aspect won't suffice, as all these components must be balanced for the business to thrive. Success is essentially the result of this balance.
In what way did Loyverse help you the most?
Loyverse POS has been instrumental in easily monitoring branch performance, customer records, and product sales for each branch. It has allowed us to identify our top-performing branches, our lowest-performing branches, and our most valuable clients, enabling us to address their specific needs. Loyverse provides us with the tools to access this critical information, and the sales reports offer valuable insights. It's user-friendly, compatible with various platforms, and cost-effective, making it almost free. For instance, the employee management add-on helps me control employee access rights.
What advice do you have for those wanting to start a business?
As I mentioned at the start of our interview, you must establish the right tools, processes, and assemble the right team to create a balance that addresses the needs of every stakeholder and component of the business. It won't be easy, and there will be numerous challenges, but Loyverse is one of the best tools available to help you efficiently scale your business. With a single account, you can manage multiple branches effectively, which is a great advantage.
Edited by ArturoGarcia