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The Dry Cleaning Business is part of the sub-set of businesses that are
best run by independent small business owners. Some large companies have
tried and failed to establish a nationwide chain for dry cleaners and for
the most part have not been successful. The issue lies in the fact that
there is little economy of scale in this industry and as large business,
managerial costs end up eating into the already thing margins in the dry
cleaning industry. Therefore, as a small business owner one already has
the advantage in this case knowing there will never be a "Dry Clean Mart".
But as any other business, many factors need to be considered before
entering this business.
Return On Investment - ROI
The ROI on a Dry Cleaning Business will depend largely on the labor
factor. So one of the key questions to ask yourself is whether you want to
be an owner-operator or an absentee owner. As an owner-operator you must
calculate what is your opportunity cost in dedicating yourself full time
to this business vs hiring staff to manage the business. Once you are able
to factor this in the price, you should decide on your ROI goal. Generally
speaking a profitable dry cleaning operation will ask 3-4 times annual
cash flow.
Equipment
One should become familiarized with the process of dry cleaning and the
equipment involved. You should research prices for new vs used machines,
cost of maintenance, parts availability, and service in your area.
Zoning Laws
This business uses flammable solvents that are usually restricted by
zoning laws. Usually, cities have restrictions on dry cleaners near
schools, hospitals, churches, and theaters due to the potential fire
hazard. Therefore, check with your city before signing any leases or
documents that are legally binding.
Labor Requirements
Dry cleaning is considered a labor intensive process so one should plan
accordingly on the source of labor. Also, because of the chemicals
involved in dry cleaning, one has to take into consideration the potential
health hazards and how to best protect workers exposed to chemicals.
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