How to survive inflation

2023 is looking a lot better than last year, but businesses are still feeling the effects of COVID-19 and need to act accordingly. How to survive inflation? Increasing the prices on your laundromat or laundry room might be the answer, but you need to be smart about it.

Give a little something extra

Even if the reason you increase your prices is to keep up with inflation, your customers will still expect to get something more in return. Find something new to offer, maybe a TV, music or wi-fi.

Reward your loyal clients

A rewards program is a great way to keep your customers coming back more often even as your prices go up. Offer them discounts or freebies and they won’t feel the increase as much.

Stay competitive

Even if your clients are loyal, if yyour prices go up, they’ll probably go around looking for a cheaper option. Check out the prices of nearby laundromats and make sure you stay in their ballpark to make sure your customers stay with you.

Keep the increase manageable

It’s better to do multiple small increments than taking one big jump. Remember if you feel the effects of inflation, that means your client base is feeling it too. It’s in your best interest to keep your prices manageable so that your customers can still afford your service.

Still wondering how to survive inflation?

Although incrementing your prices can be a good solution it can also be risky since your clients are going through the same economic turmoil as the rest of us.

Another way to keep safe from the effects of inflation is to enter a service agreement. These agreements allow you to keep your business running for the same monthly for the duration of your contract. Inflation might go up, but you’ll never need to worry! Your payments will always stay the same.

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