Level 400: Optional Services

401: Optional Services to Offer your Customers

QUIZ 401: Optional Services to Offer your Customers

402: Managing Cost of Goods

QUIZ 402: Managing Cost of Goods

403: Increase Production

QUIZ 403: Increase Production

404: Managing Costs when Outsourcing

QUIZ 404: Managing Costs when Outsourcing

405: Marketing for Owners and Operators

QUIZ 405: Marketing for Owners and Operators

406: Top Three Laundry Challenges

QUIZ 406: Top Three Laundry Challenges

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QUIZ 404: Managing Costs when Outsourcing

Level 400: Optional Services 404: Managing Costs when Outsourcing QUIZ 404: Managing Costs when Outsourcing

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Question 1 of 5

1. Question

What is outsourcing?

It is when you learn to do mending, alterations, and other care for fine garments, so that you can do all kinds of laundry.

It is when you bring special items or tasks, like mending, to a professional for completion.

Outsourcing is when you borrow money to build your business.

Outsourcing is when you have other people process your customer laundry in their own homes.

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Question 2 of 5

2. Question

What do we mean by the phrase profit margin?

The margin is the difference between a low profit and high profit.

Profit margins are the cost of goods sold.

The profit margin is the difference between the price you charged your customer and the cost to provide that service.

The margin of profit refers to the price you charge your customer. You need to make sure they get a great deal.

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Question 3 of 5

3. Question

A customer has given you a jacket with a rip in the seam of a sleeve. You need to outsource to a mending specialist. How do you begin to learn how much this will cost?

Work backwards. Subtract the cost to get it mended from the price you charged your customer.

There is no way to manage this. The dry cleaner will just make up a price and it will change from dry cleaner to dry cleaner. So you shop around town for the best price.

You charge the customer after the mending is finished, so you never know one item from the next.

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Question 4 of 5

4. Question

What is one of the easiest ways to manage cost of goods when outsourcing?

Charge a customer a premium price for items that need outsourcing.

Get on the phone and shop dry cleaners/vendors for each order. Shop for the best price each time.

Just figure that when outsourcing, it will always be at a loss. There will not be any profits.

Do all the specialty work yourself. Learn new skills.

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Question 5 of 5

5. Question

What is easy to do, but disastrous for business?

It is easy to outsource mending but disastrous for business because the price keeps changing.

It is easy to outsource and set premium prices.

It is to rationalize losing money (no profits) on a nice customer.

It is very easy to do the mending myself.

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