Laundromat Business Plan Leave a comment

Opportunity

Problem

Everyone needs clean clothes. Some families cannot afford laundry soap or a washer dryer.

Solution

Universal Laundromat will, upon commencement of operations, supply full washing, drying, and optional folding services. In order to provide clean clothes washing and dry, as well as quality household retail products to satisfy the need for convenient access in the area, Universal Laundromat will offer these services. Universal Laundromat stands out from the rest by its dedication to offering friendly, quick, and most importantly, convenient services.

Market

Word-of-mouth advertising has been proven to be the best form of advertising. No major newspaper ad campaign is planned. However, we will run weekly specials. In addition, we shall have an incentive program for referrals. Referring customers will receive two wash-offs and the referee an introductory gift. We will also ensure a clean environment and reliable machines as well as prompt, friendly services.

Competiton

Universal Laundromat would like to set itself apart from other laundromats that may offer only one or two services. Universal Laundromat focuses on drying and washing clothes, but we also want to offer other services at one location. Those services include folding and potentially pick-up/delivery service, as well as online reservation and membership for pick-up and delivery. We are different from the rest because of our ease-of-use.

Why Us

Universal Laundromat is an all-inclusive coin-op laundry service (washing/drying, optional folding) that aims to provide high customer satisfaction. They use reliable machines and create a friendly atmosphere.

Expectations

Forecast

It is very important to note that the minimum monthly amount of loan payback should decrease as principal decreases. The profit projections in the table are after expenses and monthly loan repayment have been subtracted. The net profit will then be used to reduce the loan term by paying an additional amount.

Financial Highlights by Year

Financing Required

Mister Mihn Doung has a small permanent shop that sells powertools every weekend in 7th Berryessa Flea Market. The average monthly revenue of the store is $4,500. On average, the store makes $2,500/month in profits. Considering the potentiality in the coin-op laundromat industry, he’d like to take on further challenges by starting another venture.

Universal Laundromat needs $150,000 more loan financing in order to reach this goal. The loan will be funded by cash flow from both the Flea Market shop and the laundry company. It will be collateralized with the assets and steady income the business brings, along with a $75,000 downpayment. And it will be backed by the character and experience of the owner.