Laundromat Business Plan

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Universal Laundromat

Executive Summary

Opportunity

Problem

Every person needs clean clothes. Not every family can afford a washer and dryer or laundry soap. 

Solution

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.

Market

It’s been shown that the best method of advertising is through word-of-mouth. No major newspaper ad campaign is planned. However, we shall run weekly specials. In addition, we shall have an incentive program for referrals. 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. In addition, we will ensure a clean environment, reliable machines, and friendly, prompt services.

Competition

Universal Laundromat would like to set itself apart from other laundromats that may offer only one or two services. Although the focus of Universal Laundromat is a washing and drying service, we do wish to offer our clients the convenience of these other services in one location. Those services include folding and potentially pick-up/delivery service, as well as online reservation and membership for pick-up and delivery. Most importantly, it’s our convenience that sets us apart from the competition.

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 very important to note that the minimum monthly amount of loan payback should decrease as principal decreases. Furthermore, the profit projected in the table is after all expenses and monthly loan payback have been subtracted. All net profit will then be paid as an additional sum to greatly shorten the term of the loan.

Financial Highlights by Year

Chart visualizing the data for Financial Highlights by Year

Financing Needed

Currently, Mr. Mihn Doung owns a small permanent shop in 7th Berryessa Flea Market selling power tools every weekend. That store brings in approximately $4,500/month on average in revenue. The profit averages out to approximately $2,500/month. Considering the potentiality in the coin-op laundromat industry, he’d like to take on further challenges by starting another venture.

To achieve this objective, Universal Laundromat is seeking $150,000 in additional loan financing. 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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