Laundry Business Plan – Sample Layout

These days, most experts will advise you to create a business plan before you decide to take on the risks associated with starting a business. A laundromat is often a bit more complicated than other small business models, making the need for research, planning, and clear direction all the more essential for entrepreneurs entering the coin-operated laundromat industry.

A laundry business plan will help you prove to yourself that your ideas are viable. With a plan in place, you will be able to set clear goals and chart a path to achieve them in an organized manner. A solid business plan can become essential if you have to show it to financiers or investors before you get the initial funding you need. Lastly, it will help you be more realistic and ask yourself some tough questions about your ideas.

In this article, we have laid out a sample laundry business plan layout. We’ve laid out some examples of titles and content that you might consider using. Feel free to use it as a template as you proceed to put together your own plan.

presentation letter

Your plan should be laid out neatly in a binder with a cover page that describes what the report is about and who contributed to it. Your plan is likely to be read by many different parties, so you might consider attaching a cover letter to each that specifically addresses the reader, highlighting the concerns they will have.

content page

If the plan is more than a couple of pages long, it should include a table of contents. This includes a list of all headings and subheadings along with a page reference so the reader can quickly locate the information.

Executive Summary

An executive summary is a simple introduction to the report. Give the reader a brief introduction to your business plan and summarize each section of the plan.

mission status

While not essential, some companies like to establish a mission statement that outlines their purpose or business philosophy. It generally covers non-financial reasons. For a laundromat, you can say that you strive to provide the best service to your customers, or that you want to provide them with a clean, safe, and efficient way of doing laundry. Your mission should be to do what’s best for the customer and be better than your competitors.

Background

Give readers some background on you and anyone else who is involved with the proposed laundry. Readers may want to know what your qualifications are and if you have had any experience in business or in the money laundering industry.

Provide background on the local money laundering industry so readers can better understand the opportunities available.

If your planning has been in progress for a while, you may want to update the reader on the stage you are in. If you’re considering purchasing an existing laundromat, you’ll also want to describe the history of the business in this section.

business description

Give readers a basic description of the proposed money laundering business. When will your new unit open to the public? Where will it be found? Will you have a laundry attendant all day or just part time?

Objectives and goals

Set a list of realistic goals that you want to accomplish with the business in the first year or two. These objectives can be financial and related to monthly gross or net profits. They could also be related to other metrics, such as the number of members or customer satisfaction rates. Thinking longer term, you can also set goals to expand to new locations.

startup requirements

Before you can launch your new laundry business, you need to know exactly what you’re going to need and how much it’s going to cost. Costs will include everything from equipment purchases, renovations, and marketing, along with professional fees and compliance costs.

Once you’ve listed everything, you can calculate your total startup cost. From here you can mention some of the options you have to finance the laundry. Mention how much you will be able to contribute yourself and how much external financing you will need.

Products and services

Review the services you plan to offer to clients. In addition to a basic machine wash service with washers and dryers, you can also offer more exclusive services such as ironing or dry cleaning. Take note of the products that will be sold on the site. Obviously, you’ll be selling laundry-related products like powdered soap and fabric softener, but you can also offer non-related products like coffee and soft drinks.

Market analysis

As a prerequisite to writing a plan, you should have done at least a little market research in the area where you are proposing to open your laundromat. You can present your findings in this section of the plan.

In your research, you should try to find out if there is enough demand for a laundromat in the area in question, and if so, exactly what kind of services people within this target market want.

You should also consider the competition you have in the local area. Create a map showing your customer catchment area keeping in mind that customers will generally go to the laundromat that is most convenient for them to get to. Look at the strengths and weaknesses of your competitors. Will it be possible to get customers out of the catchment area of ​​competing laundries? Can you make your service much more attractive than theirs?

Marketing plan

Establish a plan to attract new customers to your laundromat and convert them into repeat customers. The marketing component of your plan should cover everything from developing your brand, pricing, advertising, other marketing methods, and customer service.

Remember that in the laundromat business, you will depend on building long-term relationships with regular customers. Not only should you focus on attracting new customers, but you should also focus on satisfying and ‘overdelivering’ your existing customer base. If you retain your customers and please them, you will also benefit from referrals and word of mouth.

business operations

Establish a plan for the daily operation of your laundry. Take note of the equipment you will have installed and how the water and power demands will be met. Mention how you plan to maintain the machines.

Discuss your daily staffing needs. What role will you, as the owner, play in the day-to-day running of the laundromat? How many employees will you need and what will be their responsibilities?

What other systems will you have in place to ensure the laundromat runs smoothly every day and that you can control and manage the business efficiently? Will you have a computer system to keep track of stocks and cash flows? What about a security system?

Financial analysis

Last, but most importantly, a solid business plan will include detailed financial forecasts for a period of two to three years. This data is best displayed in spreadsheets so you can set up a column for each month. Some companies include more than one spreadsheet to allow for different situations. You might consider including one as a best case scenario and others that show revenue growth at a slower rate than expected.

Try to identify a breakeven point where the business would basically be running without making a profit, but not losing money at the same time. Then you will have an idea of ​​the volume of clients that you will have to target. To calculate the break-even point, you must assume an average customer spend per visit and then calculate the number of customer visits required each month.

If you are borrowing money to start the business, you should also include a payment schedule to show how quickly the loan will be paid off.

appendix

Many assumptions are made in business plans, so it is important to be able to give reasons why you made those assumptions. Instead of guessing, you should try to include data that supports his theories. Include an appendix at the end of your plan that includes any supporting materials that do not fit neatly on the report pages. These could include maps, images, spreadsheets, tables and lists of references and sources, to name just a few examples.