Feather Laundry Key Performance Indicators
I recently created a database of all of my customers which has allowed me to derive some important statistics about my business.
These numbers are as of Oct. 20th, 2016 representing 8 months of data.
- Net Sales: $16,187.17
- Customers: 129
- Hotel Customers: 18 (14%)
- Repeat Customers: 49 (38%)
- Transactions: 338
- Transactions per Customer: 2.6
- Transactions per Repeat Customer: 5.2
- Average Transaction: $47.89
- Average Spent per Customer: $126.46
- Customer Acquisition Cost: $44.87
- Customer Lifetime Value: $168.61
- Gross Profit Margin on Laundry: 65%
- Gross Profit Margin on Dry Cleaning: 22%
- Total Gross Profit Margin: ~50%
Notes
Repeat customers are my bread and butter. I have a core group of 10–15 customers that have become weekly or monthly regulars. These are by far my most valuable customers because they love the service so much that they have committed to using it indefinitely.
Customer Acquisition Cost is going to be reduced once I am able to test different marketing methods and execute the ones with the highest ROI. The number now includes a lot of money I spent on print material that has yet to be distributed.
All the gross margins can be reduced by making my process more efficient and making better deals and finding better prices for the outsourced work, especially dry cleaning. These things will take a bit more time to come to fruition but they are part of the road map.
Finally, I wish I had a soldier’s discipline when it comes to writing these blog posts. But alas there is so much work that I have to be very picky about how I spend my time. I’m averaging 30 loads of laundry and 30 trips in the car picking up and delivering that laundry per week. Between that and the administrative tasks, very little time remains for these blogs, but I’m committed to documenting this journey for the long term.
This story is part of a series documenting the journey of a 2016 Dallas startup called Feather. For your reference here is the Table of Contents for the series.
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