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    Laundromat Business Plan Template - 2

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    Jitesh
    This document provides an overview of considerations for starting a laundromat business, including choosing a profitable location, deciding between buying an existing store or building new, payment options, staffing models, marketing strategies, and additional revenue streams. Key recommendations are to partner with an equipment provider for demographic studies and support, and to offer multiple payment options and additional services like food, laundry supplies, and WiFi to attract more customers.

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    Laundromat Business Plan Template - 2

    Uploaded by

    Jitesh
    85 views10 pages
    This document provides an overview of considerations for starting a laundromat business, including choosing a profitable location, deciding between buying an existing store or building new, payment options, staffing models, marketing strategies, and additional revenue streams. Key recommendations are to partner with an equipment provider for demographic studies and support, and to offer multiple payment options and additional services like food, laundry supplies, and WiFi to attract more customers.

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    Laundromat-Business-Plan-Template_2

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    This document provides an overview of considerations for starting a laundromat business, including choosing a profitable location, deciding between buying an existing store or building new, payment options, staffing models, marketing strategies, and additional revenue streams. Key recommendations are to partner with an equipment provider for demographic studies and support, and to offer multiple payment options and additional services like food, laundry supplies, and WiFi to attract more customers.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    85 views10 pages

    Laundromat Business Plan Template - 2

    Uploaded by

    Jitesh
    This document provides an overview of considerations for starting a laundromat business, including choosing a profitable location, deciding between buying an existing store or building new, payment options, staffing models, marketing strategies, and additional revenue streams. Key recommendations are to partner with an equipment provider for demographic studies and support, and to offer multiple payment options and additional services like food, laundry supplies, and WiFi to attract more customers.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 10

    Laundromat Business

    Plan Template
    So you’ve decided to invest in a new laundromat.
    Congratulations! Laundromats are a reliable,
    lucrative investment opportunity. They’re easy to
    start, flexible, and cash-generating. Some of the
    benefits of a laundromat business include:

    • Strong return on investment with attractive


    financing
    • No inventory or receivables, meaning no
    franchise fees
    • Minimal upfront capital investment, meaning less
    risk and virtually recession-proof
    • Solid, steady income and growth potential without
    seasonal fluctuation

    Below you’ll find some things to consider to begin


    formulating your laundromat business plan to
    ensure that your business runs as smoothly as
    possible so you can maximize your investment.

    1
    Location, Location, Location
    Choosing a site for your laundromat is an important
    part of your investment and can help determine the
    success of your business. To help drive traffic to your
    store, look for these indicators:

    • Large families with children


    • Seniors and/or students
    • A high number of rental homes or apartments
    • Easy access to the property, either by walking
    or driving

    Pro Tip: When you partner with a laundry equipment


    provider like Lakeside Laundry, they can provide
    demographic studies to help you determine the
    location that will give you the highest ROI.

    2
    Pro Tip: For every square foot, you can expect to spend $150.

    Buy vs. Build


    Whether you’re buying an existing store or building new, you
    can be successful with either. The biggest difference, though,
    is that a new build requires more upfront capital, and unlike
    purchasing an existing store, it will take a few years to see a
    return on your investment.

    What the Buying Process Looks Like What the Building Process Looks Like

     Identifying and purchasing an existing store  Site selection


     Currently installed and operational equipment  Construction from scratch or retrofitting a storefront
     An established customer base  Installing new equipment

    3
    Payment Options
    For a long time, coin-operated laundromats were
    just that—strictly coin-operated. When credit
    cards became a popular payment option, some
    laundromats converted. However, many coin- and
    card-operated laundromats are now making the shift
    to mobile payment apps. Deciding which payment
    method to give customers comes down to:

    • Who you want to cater to


    • What area your store is in
    • The demographics you’re looking at

    By giving customers multiple payment options,


    though, you will expand your market.

    Learn More: the pros and cons of laundry


    payment apps

    4
    Attended vs. Unattended
    People like it when they walk into a store
    and have somebody there to greet them.
    To help improve laundromat customer
    service, focus on the laundromat
    attendant. Attendants are the face of the
    business and often responsible for the
    smooth day-to-day operations of attended
    stores. The main reason why you wouldn’t
    have an attended store is just for cost
    purposes and time constraints.

    Learn More: Improving Your Laundromat


    with Attendants

    5
    Time Commitment
    Today’s laundromats are largely automated, and with a partner providing the
    machines and handling training, your staffing needs are minimal. How much of a
    time commitment you can expect to make is dependent on the following:

    • Are all the machines clean/operational?


    • How often do the coin boxes need to be emptied?
    • How frequently will the machines require service?
    • How do you plan on servicing the machines (i.e., self-service, third party, etc.)?

    6
    Marketing
    The laundry industry is a competitive market, and unless you’re the only store in
    a small town, you’re going to have competition. Anything you can do to get people
    into the store is positive. These marketing tips will help promote your store and
    bring in customers:

    • Signage: People are attracted to signage. Having signage (e.g., grand opening)
    increases visibility.
    • Customer Appreciation: Increase customer loyalty by hosting a barbecue or
    offering a loyalty program with multiple incentives and rewards.
    • Social Media: Posting on sites like Facebook, Instagram, and Twitter provides
    great opportunities to extend your reach.

    7
    Additional Revenue Streams
    Adding additional revenue streams is one of the
    easiest ways to increase your laundromat earnings.
    Not only will this help with your current customers,
    but it’ll help attract new customers. Ideas for
    additional revenue streams include:

     Food and drink vending machines


     Laundry item vending (i.e., detergent, dryer
    sheets, fabric softener)
     Wash and fold
     Arcade games
     Free Wi-Fi

    8
    Get Started Today!
    If you’re starting a laundromat business, partnering with a proven provider
    will give you a head start and ongoing support that you can trust.
    Contact us for your laundromat needs.

    Follow us to receive the latest tips and ideas for laundromat owners.

      

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