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Jennifer Raney Herriage

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Laundromat Business Plan

March 3, 2023 By JamesCall Leave a Comment


Laundromat Business Plan


Opportunity

Problem

All people need clean clothes. Every family needs clean clothes.

Solution

Universal Laundromat, upon opening, will offer full washing, drying, folding, and optional 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 is different from other Laundromats because we are committed to providing friendly, efficient, prompt and most importantly, convenient service.

Market

It’s been shown that the best method of advertising is through word-of-mouth. There is no major newspaper advertising campaign planned. We will however run weekly specials. We will also offer a referral incentive program. Those customers who refer someone else to the store will be rewarded with two free washes, and the referee will receive an introductory gift of a free wash. We will also ensure a clean environment and reliable machines as well as prompt, friendly services.

Concurrence

Universal Laundromat would love to be distinguished from other laundromats who may only offer one service. Universal Laundromat’s main focus is on washing and drying, but we want to provide our clients with the convenience of other services all in one place. These services include fold-up, delivery and perhaps pick-up service. We also offer online reservations and memberships for pick-up or delivery. Our convenience is what sets us apart from other competitors.

Why Us?

Universal Laundromat is a full-service coin-op laundry (washing, drying, and optional folding) service dedicated to consistently providing high customer satisfaction by rendering reliable machines and furnishing a clean, enjoyable atmosphere at a competitive price/value relationship.

Expectations

Forecast

It is important to remember that the monthly minimum amount of loan repayment should decrease with decreasing principal. Furthermore, the profit projected in the table is after all expenses and monthly loan payback have been subtracted. To shorten the loan’s term, all net profits will be paid in an additional amount.

Financial Highlights Year-by-Year

Financing Required

Mister Mihn Doung has a small permanent shop that sells powertools every weekend in 7th Berryessa Flea Market. On average, the store earns $4,500 per month in revenue. The average monthly profit is $2,500. He is excited about the potential of the coin-op laundry industry and would like to start another venture.

Universal Laundromat needs $150,000 more loan financing in order to reach this goal. This loan will be paid by the cash flow from both the shop at the Flea Market and the laundry business, and will be collateralized by the assets of the business and steady income it brings along with an initial $75,000 down payment, and backed by the character, experience, and personal guarantees of the owner.


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Filed Under: Businnes Plan Tagged With: business, laundromat, Plan

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“I have both bought and sold properties from Jennifer and I can highly recommend her without any reservation.  She is uniquely qualified due to her vast experience in not only the marketing of homes but also all aspects of ownership.  The result is a professional that adds value to the client beyond the associated cost of representation.” 
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About Jennifer

Unlike many who get into the field, real estate has been the only career for Jennifer Raney Herriage, who has excelled in serving clients for over 20 years.  Having grown up in a real estate family, Jennifer was first inspired by her mother, a broker … Read more...

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