Laundromat Business Plan

Universal Laundromat

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Company Summary

Universal Laundromat will, upon commencement of operations, supply full washing, drying, and optional folding services. We will also provide quality products to ensure clean washing of clothes as well as household retail products to meet the demand for easy access for the neighborhood. What will set Universal Laundromat apart from the competition is our commitment to providing professional, friendly, prompt, and, most importantly, convenient services.

2.1 Start-up Summary

This laundromat is a rare business opportunity that not many people can get. Having an excellent proven track record of steady income, the current owner is reluctant to sell. However, in desperation of a large sum of money to pay back loans before his retirement, he is, in a way, forced to sell. Nevertheless, this sale has not been announced or listed to the public yet. Priority is given to acquaintances before being given to the public. Being an acquaintant, Minh has first priority to the business opportunity.

Start-up Funding
Start-up Expenses to Fund $225,500
Start-up Assets to Fund $7,262
Total Funding Required $232,762
Assets
Non-cash Assets from Start-up $0
Cash Requirements from Start-up $7,262
Additional Cash Raised $0
Cash Balance on Starting Date $7,262
Total Assets $7,262
Liabilities and Capital
Liabilities
Current Borrowing $0
Long-term Liabilities $150,000
Accounts Payable (Outstanding Bills) $0
Other Current Liabilities (interest-free) $0
Total Liabilities $150,000
Capital
Planned Investment
Minh Duong $82,762
Other $0
Additional Investment Requirement $0
Total Planned Investment $82,762
Loss at Start-up (Start-up Expenses) ($225,500)
Total Capital ($142,738)
Total Capital and Liabilities $7,262
Total Funding $232,762
Start-up
Requirements
Start-up Expenses
Rent Deposit $0
Misc. $500
Cost of Business Acquisition $225,000
Total Start-up Expenses $225,500
Start-up Assets
Cash Required $7,262
Other Current Assets $0
Long-term Assets $0
Total Assets $7,262
Total Requirements $232,762

2.2 Financial Picture of Current Laundromat

A few tips from the expert:

  • In the laundromat industry, we should always consider an established venture. 
  • The estimated value of the business should be 50 times the net profit; the investor should regain investment in 3 years or less. 
  • In the laundromat business, size doesn't matter. Only NET PROFIT (income) does.


Financial Picture of T. Le Super Wash laundromat:

REVENUE-
Laundromat Sales (On Average)$12,000
Supplies and Game Arcade Sales$1,100
Subletting  Revenue$500
Total Monthly Revenue$13,600

OPERATIONAL ADMINISTRATIVE EXPENSES

-
Rent$1,975
Garbage and Sewage$50
Business Insurance ($1,000,000 Liability)$107
Utilities (Gas, Electric, and Water)$2,300
Machine Maintenance$70
Payroll Expense$600
Direct Cost of Sales (Supplies, Miscellaneous)$300
Total Monthly Expenses$5,402
NET PROFIT (On Average)$8,198

2.3 Company Locations and Facilities

The laundromat is located in San Jose, California. It will utilize 1,500 square feet. The location is strategically situated on one of the busiest streets in East San Jose. More specifically, it's located in a small attractive shopping center next to the poor to lower-middle class homes; therefore, there is NO possible competitor (after very careful examining). In addition, there are two apartment complexes located nearby. Surrounding it, there is a Mexican neighborhood whose residents get most of their services and needed goods in this plaza where the laundromat is located.

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Start-up Funding
Start-up Expenses to Fund $225,500
Start-up Assets to Fund $7,262
Total Funding Required $232,762
Assets
Non-cash Assets from Start-up $0
Cash Requirements from Start-up $7,262
Additional Cash Raised $0
Cash Balance on Starting Date $7,262
Total Assets $7,262
Liabilities and Capital
Liabilities
Current Borrowing $0
Long-term Liabilities $150,000
Accounts Payable (Outstanding Bills) $0
Other Current Liabilities (interest-free) $0
Total Liabilities $150,000
Capital
Planned Investment
Minh Duong $82,762
Other $0
Additional Investment Requirement $0
Total Planned Investment $82,762
Loss at Start-up (Start-up Expenses) ($225,500)
Total Capital ($142,738)
Total Capital and Liabilities $7,262
Total Funding $232,762
Start-up
Requirements
Start-up Expenses
Rent Deposit $0
Misc. $500
Cost of Business Acquisition $225,000
Total Start-up Expenses $225,500
Start-up Assets
Cash Required $7,262
Other Current Assets $0
Long-term Assets $0
Total Assets $7,262
Total Requirements $232,762