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