SAN FRANCISCO — Owners often ask how to prepare their dry cleaning business for an optimum-priced sale. Generally, the answer is the same as the answer to an entirely different question: “How can I improve my business?”
To optimize the value of a business, make it the best it can be. Is that an oversimplification? Yes. Is it true? Yes.
KEYS TO PROFITABILITY
How can you make your business more profitable? Try these approaches:
You need to be willing to consider new options, including:
Processes — Continual innovations, changing regulations and improved equipment have combined to make streamlined processing possible. Be certain your current process is appropriate and efficient and not just based on habit.
Suppliers — The consolidation of supply chains has created an especially challenging environment for local suppliers. If your preferred supplier has not adapted appropriately to reduce your costs, it is time to review the relationship and the cost/reward ratio.