Shopping Centers Today

MAY 2012

Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)

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RET AILING TODA Y to pick up whenever convenient. Pan- da's Arizona store is testing another idea: a 24-hour pickup kiosk. This model uses the same type of laundry bag but elimi- nates the lockers and the phone calls. Instead, customers drop off and pick up from a kiosk that shares the shop's rack system. Panda franchises stand to benefit from P&G;'s marketing expertise on the one hand and Panda's operations abili- ties on the other, says Tarzian. Panda Dry Cleaning will be seeking spaces mea- suring between 2,500 and 3,200 square feet with room for one or two drive- through lanes and/or curbside parking for valet service, says Tarzian. If the service and the 24-hour conve- nience win the day, Tide Dry Cleaners stands to grab a decent share of the $9.2 billion-revenue U.S. dry-cleaning mar- ket. To be sure, though, the market is fragmented, with 90 percent of the coun- try's nearly 39,000 establishments cur- rently running just a single shop, accord- ing to IBISWorld. "Companies operate within a very limited geographic scope," said IBISWorld analyst Caitlin Moldvay. Consumers typically use dry cleaners within a 10-mile radius, she says. The in- dustry's top four companies account for only 2.5 percent of total revenues, says Moldvay. The largest of these, Martiniz- ing Dry Cleaning, operates some 600 shops and yet commands just 1.3 per- cent of the market. Several companies that tried consolidating dry-clean estab- lishments have gone bankrupt in recent years, she says. Tide Dry Cleaners' attention to detail may impress those consumers who are typically unhappy with their dry clean- ers, Eisel says. "You find a button miss- ing," he said, "or a stain there, or it's not creased right — it's not ready to wear." Tide Dry Cleaners shops open more than a year already surpass $1 million a year in sales, he says. Tarzian's goal for the Panda units is to rope in upwards of that amount from the competitors in each market. That is an ambitious goal, though, because the typical U.S. dry cleaner sees just $223,643 in annual gross revenue, according to IBISWorld. The clothes might smell like Tide. Tarzian says he smells money. SCT For leasing information, contact Steven Collins, vice president of real estate, Agile Pursuits (P&G;'s franchise arm), at (773) 340-3036. For Panda Express–owned fran- chises, contact Daniel Sagal, director of real estate, Panda Dry Cleaners, at Daniel. sagal@tdcpand.com. How can nothing be something? A commitment to go zero landfill will allow your business to accomplish big things when it comes to reducing the environmental footprint of your operations. Instantly calculate how EfW can improve your environmental footprint. 110 SCT / MAY 2012 Covanta 4Recovery is uniquely positioned to empower retail real estate owners and operators to meet their zero landfi ll goals by offering fully integrated collection, recycling and Energy-from-Waste (EfW) disposal services from over forty national locations. By choosing to divert your post-recycled solid waste to one of our EfW facilities, you will help generate clean, renewable energy and reduce harmful greenhouse gas emissions otherwise created by landfi lls. Begin your zero landfi ll commitment today by calling 1.800.950.8749 covanta4recovery.com

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