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Plan Outline
Laundromat Business Plan
Universal Laundromat
Company Summary
Universal Laundromat will, upon commencement of operations, supply full washing, drying, and optional folding services. We will also provide quality products to ensure clean washing of clothes as well as household retail products to meet the demand for easy access for the neighborhood. What will set Universal Laundromat apart from the competition is our commitment to providing professional, friendly, prompt, and, most importantly, convenient services.
2.1 Start-up Summary
This laundromat is a rare business opportunity that not many people can get. Having an excellent proven track record of steady income, the current owner is reluctant to sell. However, in desperation of a large sum of money to pay back loans before his retirement, he is, in a way, forced to sell. Nevertheless, this sale has not been announced or listed to the public yet. Priority is given to acquaintances before being given to the public. Being an acquaintant, Minh has first priority to the business opportunity.
| Start-up Funding | |
| Start-up Expenses to Fund | £225,500 |
| Start-up Assets to Fund | £7,262 |
| Total Funding Required | £232,762 |
| Assets | |
| Non-cash Assets from Start-up | £0 |
| Cash Requirements from Start-up | £7,262 |
| Additional Cash Raised | £0 |
| Cash Balance on Starting Date | £7,262 |
| Total Assets | £7,262 |
| Liabilities and Capital | |
| Liabilities | |
| Current Borrowing | £0 |
| Long-term Liabilities | £150,000 |
| Accounts Payable (Outstanding Bills) | £0 |
| Other Current Liabilities (interest-free) | £0 |
| Total Liabilities | £150,000 |
| Capital | |
| Planned Investment | |
| Minh Duong | £82,762 |
| Other | £0 |
| Additional Investment Requirement | £0 |
| Total Planned Investment | £82,762 |
| Loss at Start-up (Start-up Expenses) | (£225,500) |
| Total Capital | (£142,738) |
| Total Capital and Liabilities | £7,262 |
| Total Funding | £232,762 |
| Start-up | |
| Requirements | |
| Start-up Expenses | |
| Rent Deposit | £0 |
| Misc. | £500 |
| Cost of Business Acquisition | £225,000 |
| Total Start-up Expenses | £225,500 |
| Start-up Assets | |
| Cash Required | £7,262 |
| Other Current Assets | £0 |
| Long-term Assets | £0 |
| Total Assets | £7,262 |
| Total Requirements | £232,762 |
2.2 Financial Picture of Current Laundromat
A few tips from the expert:
- In the laundromat industry, we should always consider an established venture.
- The estimated value of the business should be 50 times the net profit; the investor should regain investment in 3 years or less.
- In the laundromat business, size doesn't matter. Only NET PROFIT (income) does.
Financial Picture of T. Le Super Wash laundromat:
| REVENUE | - |
| Laundromat Sales (On Average) | £12,000 |
| Supplies and Game Arcade Sales | £1,100 |
| Subletting Revenue | £500 |
| Total Monthly Revenue | £13,600 |
OPERATIONAL ADMINISTRATIVE EXPENSES | - |
| Rent | £1,975 |
| Garbage and Sewage | £50 |
| Business Insurance (£1,000,000 Liability) | £107 |
| Utilities (Gas, Electric, and Water) | £2,300 |
| Machine Maintenance | £70 |
| Payroll Expense | £600 |
| Direct Cost of Sales (Supplies, Miscellaneous) | £300 |
| Total Monthly Expenses | £5,402 |
| NET PROFIT (On Average) | £8,198 |
2.3 Company Locations and Facilities
The laundromat is located in San Jose, California. It will utilize 1,500 square feet. The location is strategically situated on one of the busiest streets in East San Jose. More specifically, it's located in a small attractive shopping center next to the poor to lower-middle class homes; therefore, there is NO possible competitor (after very careful examining). In addition, there are two apartment complexes located nearby. Surrounding it, there is a Mexican neighborhood whose residents get most of their services and needed goods in this plaza where the laundromat is located.