Bill Kingsmill of Covington, Louisiana says he \u201cfell into\n the laundromat business\u201d 10 years ago due to the aftermath of Hurricane\n Katrina. He is a longtime shopping mall owner, and at the time \nHurricane Katrina hit in 2005, one of his tenants was a laundromat. The \nowners of the laundromat were displaced due to the storm and couldn\u2019t \nmake it back to manage the store; they were going to sell their business\n when Bill decided to step in and acquire it from them, becoming a \nlaundromat owner for the first time.<\/p>\n\n\n\n
Bill didn\u2019t exactly know what to expect. While he had experience in \nmanaging real estate properties, he had never run a laundromat before. \nHe knew the previous owners had been successful, but at the time Bill \nacquired the store, it was largely run down and some of the equipment \nwas broken. Despite this, he still experienced the same \u201cunbelievable\u201d \nbusiness, and then some, that he had witnessed when the previous tenants\n owned the store. Over the next 10 years, he embraced his laundromat \noperation that provided him with a lucrative supplemental income. \nEventually, Bill decided to take his laundromat business to the next \nlevel, relocating to a stand-alone building with one other tenant near \nhis shopping mall and purchasing all new Speed Queen\u00ae equipment. He knew\n that if a less-than-ideal laundromat could bring in as much business as\n he was experiencing, a better location with superior equipment would \nenhance all aspects of the operation.<\/p>\n\n\n\n
So he started from scratch. He closed his business for a year to \nprepare for the opening of his new laundromat, King Coin Laundry, which \nhe now runs with his son Clayton.<\/p>\n\n\n\n
\u201cWe worked with our distributor to choose our ideal location, but the\n building needed some work to accommodate a laundromat, so it took a \nlittle longer to get ready,\u201d Bill recalls. \u201cWe worked with Speed Queen\u2019s\n in-house design team to figure out the logistics, maximize the space \nand achieve our goal of an extremely clean store with light blue \naccents.\u201d<\/p>\n\n\n\n
The results were worth the wait. Bill and Clayton opened their store a\n little less than one year ago, furnished with all new, state-of-the-art\n Speed Queen equipment with Quantum\u2122 Gold advanced controls. These \ncontrols allow the Kingsmills to offer their customers customized \ncycles, discounts and even sporadic free washes. They cater to their \nsurrounding demographics by offering free wi-fi, wash-and-fold services,\n a vending machine, an ATM, a soap machine, snacks that can be purchased\n from an on-duty attendant, as well as big screen TVs with various \nprogramming.<\/p>\n\n\n\n
Crediting the aforementioned improvements, Bill and Clayton have seen\n a significant uptick in sales, which they can tell by simply running \ndaily and weekly reports from their computer, thanks to the technology \nSpeed Queen equipment offers. At their old laundromat, Bill and Clayton \nhad to count coins from the machines every day to see how business was \ndoing, and they weren\u2019t able to offer their customers the \npersonalization they can now.<\/p>\n\n\n\n
Sales and customer volume are not the only areas where Bill and \nClayton have seen improvements. Speed Queen\u2019s latest equipment features \nfront-load washers and dryers that reduce energy bills and water usage \ncompared to the top-load machines the Kingsmills had at their previous \nstore. The technology included in their new machines also offers readily\n available and easily accessible data on utility costs and energy usage \nthat they can then use to make immediate adjustments accordingly. While \nthey used to have a mix of different brands of equipment, their new \nstore features uniform machines, reducing any inconsistencies in \nfunction and utility cost.<\/p>\n\n\n\n
\u201cWe\u2019ve been compiling and analyzing various data from our machines \nfor about a year now, and in the near future, we plan to put this \ninformation to use,\u201d Bill says. \u201cFor example, we now know when our \nslowest days of the week are, and we can offer automatic discounts to \nour customers during those times to encourage sales.\u201d<\/p>\n\n\n\n
Bill knows he couldn\u2019t have created such a successful business alone.\n He worked closely with his equipment distributor, Commercial Coin and \nLaundry Equipment Company, and Speed Queen to not only design his store \nbut also finance his new equipment. His goal was to achieve a return on \nhis investment as soon as possible, which would require a specific \npayment plan. Instead of turning to a traditional bank or Small Business\n Association (SBA), Bill looked to a lender familiar with the industry, \nin the form of Speed Queen Financial Services, for a customized \nfinancial plan. They worked with Bill to help him pay off his loan more \nquickly so that he could reap the rewards of owning a laundromat and \nturn a profit sooner<\/p>\n\n\n\n
Because of this financial flexibility, Bill and Clayton already have \nplans to expand in the future. Once they pay off the loan on their \ncurrent store, they have their sights set on opening another laundromat.\n In the future, Bill and Clayton are certain they will work with Speed \nQueen to furnish a new store, as well as design and finance it.<\/p>\n\n\n\n
\u201cWe\u2019ve had nothing but a positive experience with Speed Queen,\u201d Bill \nsays. \u201cOur shared success has paved the way for us to start thinking \nabout opening additional stores, and we\u2019re looking forward to working \nwith Speed Queen when that time comes.\u201d<\/p>\n\n\n\n
Global Public Relations Manager, Alliance Laundry Systems<\/p>\n\n\n\n