Opportunity
Problem
Each person requires clean clothes. A washer and dryer, or laundry soap are not all affordable for every family.
Solution
Universal Laundromat will provide full washing, drying and folding services upon the start of business. In order to provide clean clothes washing and dry, as well as quality household retail products to satisfy the need for convenient access in the area, Universal Laundromat will offer these services. Universal Laundromat will be different than the rest because of its commitment to offering professional, friendly and prompt services.
Market
It’s been shown that the best method of advertising is through word-of-mouth. It is not planned to run major newspaper ads. However, weekly specials will be available. Referrals will be rewarded with an incentive program. Referring customers will receive two wash-offs and the referee an introductory gift. We promise to provide a friendly and efficient environment with reliable machines, clean washrooms, and prompt services.
Competition
Universal Laundromat would like to set itself apart from other laundromats that may offer only one or two services. Although the focus of Universal Laundromat is a washing and drying service, we do wish to offer our clients the convenience of these other services in one location. Those services include folding and potentially pick-up/delivery service, as well as online reservation and membership for pick-up and delivery. Our convenience is what makes us stand out from the rest.
Why Us?
Universal Laundromat (washing, drying and folding) is a full service coin-op laundry. We are committed to providing excellent customer satisfaction, by furnishing a pleasant environment and using reliable machines.
Expectations
Forecast
It is vital to remember that principal falls and the minimum monthly loan repayment should fall. The profit projections in the table are after expenses and monthly loan repayment have been subtracted. The net profit will then be used to reduce the loan term by paying an additional amount.
Financial Highlights Year-by-Year
Finance is required
Mister Mihn Doung has a small permanent shop that sells powertools every weekend in 7th Berryessa Flea Market. That store brings in approximately $4,500/month on average in revenue. The average monthly profit is $2,500. Considering the potentiality in the coin-op laundromat industry, he’d like to take on further challenges by starting another venture.
Universal Laundromat has requested $150,000 in additional financing to meet this objective. The cash flow from the Flea market and the laundry business will pay for the loan. It will be secured by the assets and steady income of the business. A $75,000 down payment will also be required.