LOS ANGELES — Financial lender Eastern Funding recently hosted two Laundromat improvement workshops in Los Angeles and Anaheim, Calif., during which more than 90 industry participants, mainly laundry owners and prospective investors, spent time discussing retools, acquisitions, store valuations, social media and other topics impacting the industry.
Executive Vice President Marc Stern, Vice President of Sales Tony Regan and loan officer Jennifer Lujan led interactive exercises demonstrating how improvements, including an equipment retool, can positively affect a laundry’s day-to-day business.
Attendees also participated in a valuation exercise in which groups were tasked to come up with a “before and after retool” value of a sample Laundromat.
Bryon McIntyre, Eastern Funding’s marketing director, shed light on how social media has forced operators to adjust their approach to marketing, and offered tips on how to utilize various platforms for the benefit of their business. In a revealing exercise, laundry owners shared how they drive positive responses as well as how they respond to unfavorable online reviews.
“This was our first workshop in Southern California and it was a great success,” says Stern. “We have a solid presence in this market and want to thank all who attended. It is our intention to hold more of these workshops throughout the country during 2019.”
“We really enjoyed the meeting,” says Anaheim workshop attendee Kevin Niems. “It was very informative. The professionalism of Eastern Funding and the willingness to share their time for a free workshop is incredible and much appreciated.”
Attendee feedback provided insight into topics of interest to be covered in future workshops, Eastern reports.
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