If you are looking for a source of primary income or investment, a laundromat business can be a good choice for you.
Self-service laundromats along with additional side services are growing in popularity. And hence, if you successfully build a good business model you can turn that into a thriving laundromat business.
But for that, you’ll need a laundromat business plan to help you along the way. Here we’ll discuss what the laundromat industry looks like, steps to make your business setup process easier, and finally how to write a laundromat business plan.
If you are planning to start a new laundromat, laundry, or cleaning business, the first thing you will need is a business plan. Use our sample Maxwell – Laundromat Business Plan created using Upmetrics business plan software to start writing your business plan in no time.
Before you start writing your business plan for your new laundry business, spend as much time as you can reading through some examples of cleaning or clearing related business plans.
The global coin-operated laundry market stood at a massive value of 14.6 billion dollars in 2019 and is expected to rise at a rapid rate going forward too. The major reason for the growth is the convenience the coin-operated laundries provide.
And as the working population grows, laundromats are bound to grow alongside. These laundries are also a huge help for students, professionals staying in dorms, or anyone for that matter who doesn’t have the time to do their laundry.
Additional services like pickup and drop facilities can act as an added advantage to your business, as it increases convenience for your consumers.
Things to Consider Before Writing a Laundromat Business Plan
Pick a convenient location
A convenient location is central to your business’s success. The location should be close to hostels, dorms, or apartment complexes to make it easier for your customers to access your service. After all, who would want to walk miles with all that heavy laundry!
Decide upon additional services
Coin-based laundries are gaining attention due to the additional services they have to offer. Your busy customers would highly appreciate services like pick up and drop, ironing, etc.
Having these services up for grabs makes it more convenient for your consumers and also gives you additional business opportunities.
Hence, it is a good practice to make a list of services your target audience would prefer to have and arrange resources for the same.
Pick a legal structure
Legal structures decide the taxes you pay, the risk to your personal assets, and many other aspects of your business. Hence, looking into your options and selecting the one that fits the best for your business is essential. Look into all of your options and pick one after considering all of its implications.
Gather market information
Know all there is to know about the industry, current market trends, target audience, preferences, competitors, their business and marketing strategies, and so on. This is one of the best business setup practices out there. It helps you understand what you are getting yourself into like nothing else. Hence, gather all the available information before getting started.
Chalking Out Your Business Plan
Reading sample business plans will give you a good idea of what you’re aiming for and also it will show you the different sections that different entrepreneurs include and the language they use to write about themselves and their business plans.
We have created this sample Maxwell – Laundromat Business Plan for you to get a good idea about how perfect a Laundromat business plan should look like and what details you will need to include in your stunning business plan.
Laundromat Business Plan Outline
This is the standard laundromat business plan outline which will cover all important sections that you should include in your business plan.
- Executive Summary
- Mission Statement
- Management Team
- Keys to Success
- Financial Summary
- 3 Year profit forecast
- Company Summary
- Startup Summary
- Startup cost
- Products and Services
- Market Analysis
- Industry Analysis
- Market Trends
- Market Segmentation
- Corporate Executives
- Middle-Class Households
- Business Owners
- Sport Clubs
- Strategy & Implementations
- Marketing Strategy and Sales Strategy
- Pricing Strategy
- Advertising Strategy
- Sales Forecast
- Financial Plan
- Important Assumptions
- Brake-even Analysis
- Projected Profit and Loss
- Profit Yearly
- Gross Margin Yearly
- Projected Cash Flow
- Projected Balance Sheet
- Business Ratios
After getting started with Upmetrics, you can copy this sample business plan into your business plan and modify the required information and download your laundromat business plan pdf or doc file. It’s the fastest and easiest way to start writing your business plan.