Sample Business Plan on Laundromat Business Plan

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EXECUTIVE SUMMARY                                                         

 

The Business Concept

 

Wash & Dry, LLC (Wash & Dry or the Company) will offer the business/apartment district of CITY a refreshing new approach to a Laundromat experience. The Company is located in CITY, AnyState.

 

The Company’s facility will be brand new and will have completely new equipment. This equipment utilizes far less water, gas and electricity than other Laundromat equipment. Hence, Wash & Dry will be the most energy efficient laundry facility of its kind.

 

Doing laundry at Wash & Dry will be a totally new experience. The Company will offer an inviting, modern atmosphere that provides:

 

Ø      Coinless convenience

Value cards can be purchased pre-loaded or funded via cash or credit card with any amount a customer would like. This eliminates the typical coin operated laundry hassle of finding change and feeding coins into a machine.

 

Ø      Time-savings

 A convenient drop-off wash, dry and fold service is offered

 

Ø      Fastest laundry service

Customers will be able to finish their laundry faster than anywhere else in town utilizing industry-leading Speed Queen® front-loading washers and dryers. These machines also use less water and electricity.

 

Ø      Full range of laundry products

Customers will be able to purchase a full range of pre-packaged laundry soaps, dryer sheets, etc. with their coinless laundry card.

 

 

Ø      Comforts just like home

Wash & Dry will have amenities such as large-screen TVs, gourmet coffee, free Wi-Fi access and a bookshelf with a wide assortment of free magazines and books. This will make the customer’s laundry experience just as comfortable as lounging at home.

Ø      A safe environment

The Laundromat will be staffed at all hours by a friendly attendant and in-store security cameras will provide added peace of mind.

 

In addition, Wash & Dry will provide commercial laundry services for local business.

 

Great Location

The Company’s location is in a growing and bustling area. It appeals to the local residents and businesses. It is within easy walking distance of many apartments. CITY is a thriving community with many residents and businesses. There are over 5,600 households within a 1-mile radius of the Company’s location and a little over 64% are renter occupied. The average household income was estimated to be approximately $43,600.00

 

Excellent Market Opportunity

There is always a need for Laundromat services. Currently there are only two Laundromats located within a tow mile radius but none of these are as strategically located as the new facility that the Company will be building. Wash & Dry will be a modern operation with its own parking in the downtown business district. It will be near all the major shopping plazas in town.

 

The Company’s Laundromat will be a brand new and spacious facility that is much more attractive and accessible than the competition. Prices will be competitive with the other Laundromats in town.

 

 

 

 

Profitable Growth

Wash & Dry expects to gain a profitable market share within a very short period of time. Determinations have been made for the size of the market, amounts of budgeted advertising and promotional dollars, the number and kinds of distribution channels and the competitive landscape.

 

Projections call for the Company to generate revenues of $320,000 in its first twelve months. Wash & Dry will achieve strong growth over the next several years, reaching $374,000 in revenues and more than $156,000 of operating income by the fifth year.

 

The Opportunity

Industry Overview

 

The term coin laundry is defined as: “Commercial-grade, self-service laundry equipment placed into service in a retail space.” Coin laundries are typically self-serve laundry services, often referred to as:

 

Ø      Coin-operated laundries

Ø      Laundromats

Ø      Coin-op laundries

 

Typically, Laundromats are located near densely populated, apartment buildings and/or multi-housing rental areas. U. S. Census Bureau statistics report 31% of the “nation’s 116 million households were renter occupied.” The Bureau also