National Clothesline

Years ago when customer service specialist Joel Swetlow was giving seminars in the industry, he urged drycleaners to ask themselves, “Would you do business with you?” The question was designed to get cleaners to step around to the other side of the counter and see how they look to their customers. Answering it requires forgetting about all the behind-the-scenes details that you, as an owner/manager, are aware of and that might serve as excuses for certain shortcomings. Customers have their own problems; they come to the cleaner for solutions. Are you offering those solutions or just making more problems?

Swetlow’s question was a good one then and it still is today, a question that should be asked regularly. It’s also a question that applies when considering the ultimate customer of every drycleaning business, namely, the person who someday will buy the business. Oh, sure, there are a handful of businesses that have remained in the same family for generations and have never been sold, but the vast majority at some point go on the market, with the current owner looking for a buyer who will appreciate the tremendous value that has been built up in the business over the years and pay accordingly.

Before that day comes, it would be well to ask yourself the question: Would you buy your business from you?

When you put your business on the market, will it offer a solid investment for a buyer or will the new owner be buying your old problems — aging equipment, declining sales, an expiring lease, an overbuilt market, inexperienced or disinterested employees? Perhaps the reasons you want to sell are the very reasons that would make a potential buyer back off.

Solve those problems before you try to sell and you will maximize your market value. Start now by asking yourself the question, then read the articles in this month’s issue by Al Robson (page 30) and Stan Caplan (page 50). Both address a range of issues for buyers and sellers of drycleaning businesses. Start doing what’s needed to confidently answer the question with a resounding “Yes!”

When it comes to running your business, are you a tortoise or a hare? Do you plod along at a slow but constant pace, or do you race fast from the starting line only to veer off course when you are far ahead of the competition?

In Aesop’s fable, it is the tortoise who ends up winning the race thanks in part to his diligent nature. The hare is much faster and has every advantage imaginable, but his over confidence causes him to nap, which ultimately leads to his downfall. Too much pride is a dangerous thing — especially when it leads to complacency. When that happens, you lose the very drive that inspired you to be the best in the first place.

Of course, being a tortoise can be equally treacherous to your company’s success. There is nothing wrong with hard work and determination, but plodding gradually all the time is — well, let’s face it — boring and predictable. Don’t make the mistake of running your business on cruise control, always afraid to change things because it could court disaster. Sometimes you need to take things slowly and safely, but other times you have to aim for the fence when you swing, even if it means striking out on occasion.

Marketing expert John Graham notes that businesses must be willing to take chances once in a while to keep thriving in the modern world. If your plant continue to trudge along at the same old pace, you may be infected with “tired company syndrome.” Basically, any business without a sense of urgency or excitement falls into this category. Any company with tired drones for employees or managers who wait for change to come to them is in danger of losing both the confidence and interest of customers.

To learn of the eleven tell-tale signs of this profit-killing disease, see Graham’s article (“Is Your Company in a Deep Snooze?”) on page 24. Does your company meet the criteria? If so, it may be time to rethink your marketing ideas and business strategies. Of course, there is always a chance that any new approach you try may fail. That’s the price you pay for taking the road less traveled. However, that is the only way you can ever hope to differentiate your business from the rest of the “tired” pack. After all, never taking any risks is the greatest risk of all.