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How to Start a Laundromat Business | Free Coin Operated Laundry Business Plan

How to Start an Laundromat Business, Free Laundromat Business Plan Template

 

How to Start an Laundromat Business - Free Book


Are you considering starting an Laundromat Business? if yes, you'll find this free book to be extremely helpful.

This is a practical guide that will walk you step by step through all the essentials of starting your business. The book is packed with guides, worksheets and checklists. These strategies are absolutely crucial to your business' success yet are simple and easy to apply.

The Single Most Important Ingredient for Business Success

The first and most important thing you need to acquire in order to succeed in a small business is... knowledge.

Sounds exaggerated? Listen to this...

According to research conducted by Dun & Bradstreet, 90% of all small business failures can be traced to poor management resulting from lack of knowledge.

This is backed up by my own personal observations. In my 31 years as a business coach and consultant to small businesses, I've seen practically dozens of small business owners go under and lose their businesses -- not because they weren't talented or smart enough -- but because they were trying to re-invent the wheel rather than rely on proven, tested methods that work.

Conclusion: if you are really serious about succeeding in a business... If you want to avoid the common traps and mistakes... it is absolutely imperative that you acquire the right knowledge.

"Why Invent Mediocrity, When You Can Copy Genius?"

That's an excellent quote I picked up from a fellow business owner a few years back. What this means is that you should see what is working and try to duplicate Printing Business. Why go through all the trouble of inventing something new, that you don't even know will ever work, when you can easily learn from and duplicate something that has been a proven success?

[ Note: One of the BIGGEST mistakes almost all new businesses make is that they WASTE tons of valuable time, energy and money on trying to create something "new", that has never been tested or proven... only to find out later that it was a total loss. Don't make the same mistake! ]

Hi! My name is Meir. I'm the founder and president of BizMove.com, a successful internet based information business. I'm also the author of numerous books, mostly in the area of small business management.

I've been involved in small business for the past 31 years of my life, as a business coach, manager of a consulting firm, a seminar leader and as the owner of five successful businesses.

During my career as a business coach and consultant I've helped dozens of business owners start their businesses, market, expand, get out of troubles, sell their businesses and do practically every other small business activity you can think of.
You see, I have been there .... done it ... and bought the Small Business t-shirt! -- This free book contains techniques and strategies I've learned during my 31 year small business career.

Here's what you'll discover in the 'How to Start a Printing Business' book:

How to determine the feasibility of your business idea - a complete fill in the blanks template system that will help you predict problems before they happen and keep you from losing your shirt on dog business ideas.

A detailed manual that will walk you step by step through all the essential phases of starting your business

A complete business plan template. This fill-in-the-blanks template includes every section of your business plan, including Executive Summary, Objectives, SWOT Analysis, Marketing Analysis and Strategy, Operations Plan, Financial Projections and more (a similar template is sold elsewhere for $69.95).

All this and much much more.

Success Tip: Setting Goals

Good management is the key to success and good management starts with setting goals. Set goals for yourself for the accomplishment of the many tasks necessary in starting and managing your business successfully. Be specific. Write down the goals in measurable terms of performance. Break major goals down into sub-goals, showing what you expect to achieve in the next two to three months, the next six months, the next year, and the next five years. Beside each goal and sub-goal place a specific date showing when it is to be achieved.

Plan the action you must take to attain the goals. While the effort required to reach each sub-goal should be great enough to challenge you, it should not be so great or unreasonable as to discourage you. Do not plan to reach too many goals all at one time.

Establish priorities. Plan in advance how to measure results so you can know exactly how well you are doing. This is what is meant by "measurable" goals. If you can’t keep score as you go along you are likely to lose motivation. Re-work your plan of action to allow for obstacles which may stand in your way. Try to foresee obstacles and plan ways to avert or minimize them.

Click here! to download your book for free (PDF version)

Here're other free books in the "how to start a business" series that may interest you:

Agriculture Assisted living Auto repair Bakery Bar Beauty salon Bed and breakfast Bookkeeping Boutique Bowling alley Carpet cleaning Car wash Catering Cattle farming Charity Cleaning Coffee shop Computer repair Construction Consulting Convenience-store Cupcake Daycare Dental Dog daycare Ecommerce Electrical Embroidery Engineering Farm Fashion Film Financial advisor Fitness center Flower-shop Food Food truck Franchise Frozen yogurt Furniture store Gas station Goat farming Grocery store Gym Hairdressing Hair salon Ice cream Insurance agency Interior design Internet Internet cafe IT Jewelry Landscaping Laundromat Laundry Law firm Magazine Manufacturing Microbrewery Motel-hotel Music Nightclub Nonprofit Nursery Online-retail Photography Pizza Plumbing Poultry farming Preschool Printing Private investigator Pub Real-estate Resort Restaurant Retail School Security company Service Software Spa Sports-bar Startup Supermarket Travel agency Trucking Vegetable-farming Website

Here's a Sample 'Executive Summary' for a Laundromat Business plan:

(COMPANY) is a startup laundromat that will target a customer base of 80% young adults ranging from 18 to 28 years old.  (COMPANY) will differ from the conventional “coin-op” laundry by providing the newest technology available in the laundry industry.  The most notable of the newest technologies is the ability to eliminate the coin from the “coin-op” business.  (COMPANY) will be implementing smart card technology that allows customers to purchase a vending card that will be used for all equipment located within the store.  Some of the obvious advantages of using the smart card is the elimination of the daily collections of coins from each machine, the ability to change prices throughout the day in various increments and as a marketing tool to be able to bring customers back each week since they will still have a credit value on their card.

1.1 Objectives
(COMPANY) objectives for year 2001:

  • Secure financing by end of April.
  • Lease, remodel and install new equipment in store by August 1st.
  • Incorporate to an LLC by December 31st.
  • Achieve profitability by month ending December 31st.

 (COMPANY) growth objectives for years 2002 and 2003:

  • 2002 – Stabilize costs while extending customer base to maximize profits
  • 2003 – New store possibilities located in Northwest Ohio

1.2 Mission
(COMPANY) will be the leader in the self-laundry business by providing a clean, safe and reliable store at a cost less than or equal to its local competitors, along with satisfying the customers needs and cost objectives. (COMPANY) will also be environmentally conscious by installing high efficiency washers that use less than 50% of water and detergent than most conventional washers.  (COMPANY) will be a community friendly store.

1.3 Keys to Success
As a start-up company, new to the industry, and introducing new technologies, we must be focused and work hard to create acceptance for ourselves and our services within the marketplace. The keys to our success are:

  • Provide a clean and safe environment.
  • Competitive pricing.
  • Steady, disciplined pattern of growth.
  • Our customers and keeping them happy.

2.0 Company Summary

            (COMPANY) is a family owned and operated company that provides self-laundry services to young adults by using the latest technologies in the laundry industries, along with Internet viewing accessibility for customers and owners.  (COMPANY) home office will be located in (home town), with the store located in (store location).

2.1 Company Ownership

            (owners)  (husband and wife) will share the ownership and day to day operations of (COMPANY). 

            (owner) currently is self-employed as a systems consultant providing technical project planning for fortune 500 companies.  (owner) skills will benefit (COMPANY) by providing a technical background for the new industry technologies and his knowledge of project management will ensure the store will be opened on time and under budget.

            (owner) is currently the (place of employment – job title).  (owner) has been employed for 14 years and is in charge of the day to day operations of the company including customer orders and service, production flow, inventory management, accounts payables and receivables, IT infrastructure and human resources.   (owner) business knowledge will be a key to the success of (COMPANY).

2.2 Startup Summary

            Startup cost estimates have been estimated at $ and budgeted at $ (see table 2A).  These startup costs will be covered by approx. 35% of personal funds and credit with the remaining 65% covered via conventional loans. A considerable amount of cost savings has been incorporated by sweat equity.  The savings achieved from sweat equity are estimated at about $.

Table 2A

Estimates

Estimate Amount

Budget Amount

Front Door

$

$

Gas Lines

$

$

Bathroom Remodel

$

$

Water meter setting

$

$

Water meter  

$

$

Drainage

$

$

Web site

$

$

Security Cameras

$

$

PC

$

$

2 TVs with holders / speakers

$

$

Communications

$

$

Painting

$

$

Ceiling tiles

$

$

Flooring

$

$

Game Tables

$

$

Front Canopy / painted signs

$

$

Electrical work

$

$

Waterlines

$

$

Duct work

$

$

Interior tear out

$

$

Interior build out

$

$

Sink

$

$

3 Bulk Heads

$

$

Furniture

$

$

Sub totals

$

$

Equipment

$

$

Total                                                                             $                                               $

2.3 Location
(COMPANY) office will be based from the home of (owners and address).  The store is located at (store address) and is a 3200 square foot block building with two window fronts and located next to several well known local businesses (local businesses).  The location of this store is essential to acquiring the target customer base of 18 to 28 years old since it is located just off the campus of (university name) and next to an apartment complex.  (COMPANY) will be located in the middle of its three major competitors.  More about competitors and their stores are described later in detail. 

            All required utility services at the location are available and can be upgraded to the necessary requirements to provide adequate services for (COMPANY). 

3.0 Equipment
(COMPANY) will install:

  • xx Maytag High Efficient front load washers
  • x – 35lb Maytag front loading washers
  • x – 50lb Maytag front loading washer
  • xx Maytag Stacked (total 24) gas dryers
  • CCI networked card system
  • 1 - 12 (can or bottle) place pop machine
  • 1 snack machine
  • 1 air hockey table
  • 1 pool table
  • 7 sit down booths
  • 9 folding (clothes) tables
  • 3 – 32” TVs
  • 1 Vendrite 360 laundry soap dispenser
  • 1 Hamilton hot water heater
  • 1 large cork board for customer postings
  • 1 DVR system
  • 1 PC for power point advertisement, and security recording
  • Router, modem for internet connection

See (equipment distributor’s equipment list) attachment for model numbers and prices for several of the major items noted above.

3.1 Utility Upgrades
A laundry facility requires adequate utility services to properly run all machines during peak usage.  With the assistance of vendors the utility usage for gas, electric, water and sewer has been calculated and the necessary upgrades are included in the startup costs.

3.2 Permits
(COMPANY) has acquired a vendor license, sign permit and a letter of acceptable use for the location in question.  Permits for gas, water and electrical work will be applied for when necessary.

3.3 Communication
Connection to the Internet will be via a 768/768 DSL connection to (ISP) Internet Services.  The same phone line for the Internet will be used as the onsite business phone.  A static IP address will be assigned by (local ISP) that will be used to view the Internet camera on the (COMPANY) home web page.   The router and 5 port network switch will be used to connect the VPON monitor with the Host PC and leaving room for expansion.


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