Multi-store ownership can be lucrative and exciting, but it’s not without its challenges. During our Fireside Chat at the Laundry CEO Forum, I along with other multi-store owners (Alaa ElBanna, Ross Dodds, and Dan Yoon) shared advice for owners who are considering expanding. Here are the top 5 tips:
1. Build a strong team:
Having trusted people in place allows you to scale. Hire managers and maintenance staff before opening new stores. They’ll help keep the daily operations running smoothly so you can focus on more high-level tasks.
2. Delegate:
If you want to keep your sanity and have successful stores, delegate. But here’s the thing: after you delegate, you have to let them do their jobs and resist the urge to micromanage. Set up an organizational structure where everyone has specific roles and responsibilities. Make it clear who should report to who so they don’t rely on you to resolve minor issues.
3. Share managers across locations:
A maintenance manager or district manager who gets paid six-figures can oversee multiple stores instead of hiring someone specific for each location. This allows you to be able to afford high-quality staff while keeping costs down.
Thinking about, the thinking of laundry:
Are you the best person to do what you are in your laundry business?
4. Create SOPs:
Consistency is the key to saving time and money when you have multiple stores. Document standard operating procedures and create tutorials to share with team members. This ensures your clients receive the same level of service no matter which store they visit.
5. Stay connected:
Have regular meetings with your team to stay informed without being involved with day-to-day tasks.
6. Plan for continuity:
Everyone gets sick or goes on vacation once in a while. Cross-train employees, so you’re covered when someone is out.
As you expand, remember that growth goes beyond adding locations. It involves evolving from someone who does everything to someone who can trust their team and systems to run smoothly without constant oversight. It’s not easy, but in my opinion, it’s worth it.
That's all I got for you today.
Waleed
✌️🏴☠️
p.s. Stay connected on Linkedin and YouTube for more thoughts and strategies!
Echoing the wisdom of Robert Half
Delegating work works, provided the one delegating works, too.
Thanks for reading this edition of Wash Weekly. I hope you enjoyed the topic this week.
