Most likely, the Company will hire a qualified business broker to sell the business on behalf of Coin Op Laundry Mat, Inc. Based on historical numbers, the business could fetch a sales premium of up to 4 times earnings. Below is a description of the laundering services offered by the Coin Op Laundry Mat. The primary business of Coin Op Laundry Mat will be to provide coin operated laundry machines that customers can come in and use to wash and dry their clothes.
Management intends to maintain approximately 20 machines that will provide customers with a low cost method of doing their laundry. At this time, Mr. Doe is sourcing several manufacturers from which she will purchase these machines. The Company will also develop an ongoing relationship with a local dry cleaner so that the Company can offer this service, on an outsourced basis, to its customers. This section of the analysis will detail the economic climate, the laundry mat industry, the customer profile, and the competition that the business will face as it progresses through its business operations.
Currently, the economic market condition in the United States is in recession. This slowdown in the economy has also greatly impacted real estate sales, which has halted to historical lows. Many economists expect that this recession will continue until mid, at which point the economy will begin a prolonged recovery period. Within the United States, there are approximately 13, businesses that operate one of more coin operated laundry locations.
This is a mature industry that enjoys insulation from changes in the general economy. Regardless of the general economic environment, people will continue to need to have their clothes cleaned. Additionally, revenues during economic recessions may actually increase as consumers forego purchases of their own washers and dryers. This is a very stable type of business to operate, and Mr.
Doe intends to capitalize on the stability of this industry. In this section of the analysis, you should describe the type of customer you are seeking to acquire. In this section, you can also put demographic information about your target market including population size, income demographics, level of education, etc.
This is one of the sections of the business plan that you must write completely on your own. The key to writing a strong competitive analysis is that you do your research on the local competition. Find out who your competitors are by searching online directories and searching in your local Yellow Pages.
Below is an overview of the marketing strategies and objectives of the Company. The Company intends to use a localized marketing campaign to develop the customer base for the business. To that end, Mr. Doe has developed the following marketing campaigns that he will use at the onset of operations. Foremost, Mr. Doe intends to acquire a highly visible retail location that will attract a significant amount of foot traffic.
This will ensure that the marketing campaign budgets can be kept to a minimum, and that the signage of the facility will provide a significant amount of visibility. The Company will also maintain a strong level of print and media advertising among local newspapers, The business will also maintain listings in the local Yellow Books. At the onset of operations, Mr. This discount coupon campaign will run for the first two months of operation. In this section, describe the pricing of your services and products.
You can download it to your PC and easily prepare a professional business plan for your business. Click Here! To get your free business plan template. The first and most important thing you need to acquire in order to succeed in a small business is This is backed up by my own personal observations. In my 31 years as a business coach and consultant to small businesses, I've seen practically dozens of small business owners go under and lose their businesses -- not because they weren't talented or smart enough -- but because they were trying to re-invent the wheel rather than rely on proven, tested methods that work.
Conclusion: if you are really serious about succeeding in a business If you want to avoid the common traps and mistakes That's an excellent quote I picked up from a fellow business owner a few years back. What this means is that you should see what is working and try to duplicate Printing Business. Why go through all the trouble of inventing something new, that you don't even know will ever work, when you can easily learn from and duplicate something that has been a proven success?
Don't make the same mistake! My name is Meir. I'm the founder and president of BizMove. I'm also the author of numerous books, mostly in the area of small business management. I've been involved in small business for the past 31 years of my life, as a business coach, manager of a consulting firm, a seminar leader and as the owner of five successful businesses.
During my career as a business coach and consultant I've helped dozens of business owners start their businesses, market, expand, get out of troubles, sell their businesses and do practically every other small business activity you can think of. You see, I have been there How to determine the feasibility of your business idea - a complete fill in the blanks template system that will help you predict problems before they happen and keep you from losing your shirt on dog business ideas.
A detailed manual that will walk you step by step through all the essential phases of starting your business. A complete Laundromat business plan PDF template. Good management is the key to success and good management starts with setting goals.
Set goals for yourself for the accomplishment of the many tasks necessary in starting and managing your business successfully. Be specific. Write down the goals in measurable terms of performance. Break major goals down into sub-goals, showing what you expect to achieve in the next two to three months, the next six months, the next year, and the next five years. Beside each goal and sub-goal place a specific date showing when it is to be achieved.
Plan the action you must take to attain the goals. While the effort required to reach each sub-goal should be great enough to challenge you, it should not be so great or unreasonable as to discourage you. Do not plan to reach too many goals all at one time. Establish priorities. Plan in advance how to measure results so you can know exactly how well you are doing. This is what is meant by "measurable" goals. Re-work your plan of action to allow for obstacles which may stand in your way.
Try to foresee obstacles and plan ways to avert or minimize them. Click here! Here're other free books in the "how to start a business" series that may interest you:. COMPANY will be implementing smart card technology that allows customers to purchase a vending card that will be used for all equipment located within the store. Some of the obvious advantages of using the smart card is the elimination of the daily collections of coins from each machine, the ability to change prices throughout the day in various increments and as a marketing tool to be able to bring customers back each week since they will still have a credit value on their card.
The keys to our success are:. COMPANY is a family owned and operated company that provides self-laundry services to young adults by using the latest technologies in the laundry industries, along with Internet viewing accessibility for customers and owners. These startup costs will be covered by approx. A considerable amount of cost savings has been incorporated by sweat equity. The store is located at store address and is a square foot block building with two window fronts and located next to several well known local businesses local businesses.
The location of this store is essential to acquiring the target customer base of 18 to 28 years old since it is located just off the campus of university name and next to an apartment complex. More about competitors and their stores are described later in detail. All required utility services at the location are available and can be upgraded to the necessary requirements to provide adequate services for COMPANY. With the assistance of vendors the utility usage for gas, electric, water and sewer has been calculated and the necessary upgrades are included in the startup costs.
Permits for gas, water and electrical work will be applied for when necessary. The same phone line for the Internet will be used as the onsite business phone. There is no real secret to making money on the Internet. There are just well-known key factors that must be met in order for you to achieve Online success. If your business doesn't meet these key factors then it is bound to fail. Why are they so successful? They provide tremendous value to the Web. That's what they've been doing all along.
Your website must provide free resources, foster a sense of community and show real value to your visitors. Without useful information and real content, your website will just be background noise. Provide real value and the revenues will follow. It must be presented well. Quality means fast, clear web design that looks good and is easy to understand.
It should be easy on the eyes, as well as the brain. Your users will make quick determinations about the quality of your site. High quality will result in repeat visitors and more traffic. The word about your awesome site will spread! You should own something no one else has. In most Internet business opportunities you're nothing but pitching something you don't even know anything about with a web site that looks exactly like thousands of others.
It's depressing to see people waste their money promoting some "get rich quick scheme" or advertising the same programs as everyone else.
Efficiency is our hallmark; we do dirt free clean making sure that not even a perk of dirt is left. This means that those properties are safe in our hands. We save clients a great deal of their time and make them convenient since they do not have to worry about their cleaning chores. Our aim is to put our clients first, and we are always flexible to help satisfy your cleaning needs. Cape Coast is one of the major locations in the industry mainly because it is becoming an industrialized and commercialized city where cleaning services have become a necessity in nearly every neighborhood that is flocked with commercial complexes and residential buildings.
A lot of tertiary institutions also abound, where students and lecturers sometimes get so busy with academics that they can afford the time to clean their properties and do their laundry. Also a lot of constructions are being carried out which need an after construction cleaning. The analysis of the cleaning and laundry industry can be easily divided into two categories due to the distinct nature of the two kinds of services that cleaning companies in this industry concentrate on.
The first is the commercial cleaning service and the second is the residential cleaning service. The market analysis for both of them were done separately because the nature and intensity of the demand in both of them are highly different. Residential clients on the other hand look for cleaning companies that can provide comparatively less heavy duty services such as carpet cleaning, upholstery, 6 hour maid services and vacuuming.
Changes in the Cleaning Industry Marketplace During the time of the depression, the office rent rates went up and that compressed the ability of several corporations and large businesses to afford cleaning services. Since the depression faded way into oblivion, the office rent rates have somewhat become flatter and companies and corporations have regained the need and ability to subscribe to cleaning services. With that being said, certain areas of the city are experiencing a rise in rent of residential spaces.
If the rates continue to rise in a similar fashion, then we will be forced to make our prices more competitive and increase the efficiency of our services to residential clients. This may sound like an intimidating scenario for most start-up cleaning businesses, but our company sees this as an opportunity to adapt, evolve and let the market changes mold our path to success. One of the major changes that led to a boom in the cleaning industry in the recent years is the development and increased authority of the healthcare industry.
This forces the home owners and corporate heads to resort to cleaning services, since their personal cleaning professionals unable to meet the standards that were set by the esteemed organizations in the health care industry. As a result, cleaning companies were suddenly exposed to far more contracts than before, and most of the clients preferred to have long term arrangements with the cleaning companies instead of having a one off affair with the cleaning services.
One lesser known factor that influenced the growth of the cleaning industry is the ever increasing demand for aestheticism and visual appeal in homes and offices around the country. People want their homes and offices to look good from both the inside and the outside. As a result, they cannot afford to have dirt and filth lying around in their office or residential space. This prompted them to seek the professional help of cleaning services.
Cleaning companies around the company are making sure that homes and offices retain and maintain the visual appeal with which they were built so that they do not become labelled outdated or unsuitable for future tenants. Market Segments in the Cleaning Industry Most cleaning companies do not provide an all-encompassing service. The cleaning service itself can be divided into various segments, and the demand for these segmented services in the commercial or residential market is quite different from one another.
Some of the most common segmented services include janitorial services, maid services, window cleaning services, carpet cleaning services, dry cleaning, vacuuming, furniture polishing, washroom cleaning, waste removal and disposal etc. We understand the diversity in the demand for these services across various platforms. For example, it would be erroneous for us to assume that the market demand for window cleaning in commercial complexes is the same as the market demand for window cleaning in residential homes.
We have decided to enlarge our scope in the market by adding laundry services to take care of the clothes of busy clients. Sure, each cleaning company that establishes itself in the cleaning industry has its own niche and therefore its own target market and clients. However, for a start-up company like ours, we had the luxury of choosing from a wide selection of target customers. In the commercial sector, businesses ranging from small companies to large corporations are all in need of cleaning services of one kind or the other.
Schools, colleges, libraries and other variants of educational institutions too require the assistance of cleaning companies to provide a cleaner, safer and health hazard free studying environment for the bright minds of tomorrow. In the residential sector, there are those living modern day busy urban lives who hardly have time to make their bed and keep their shoes aligned.
For them, maid services are perfect to restore some order in their homes and their lives. Then again, there are clients within the residential sector who are looking to provide their newborn children with a cleaner and safer abode. This is when they call upon the cleaning service companies to help make their homes a better place for their children to live in.
As far as our operations are concerned, we are looking to cater for the commercial clients, students and lecturers, and the general public. Since we are equipped with the right size of cleaning staff and the appropriate cleaning equipment, we believe that we can cover massive office spaces as long as the clients appoint us a reasonable deadline. Window cleaning services, janitorial services and waste removal services in collaboration with the city authorities will be the major concentration areas of our business going forward.
With that being said, we will be keeping a watchful eye on the residential sector and always be open to the idea of expanding our business if lucrative opportunities present themselves. Whether or not a client will express their interest to subscribe to a cleaning service company will depend on two things. The first is the expertise and experience of the cleaning service company which is known to people in the neighborhoods, city or the country.
Our company, being a start-up cleaning business, will lack the experience and renown that is required to draw in new clients. However, what we lack in experience, we will make up with the high quality of services during the trial cleaning sessions that we will offer to our clients and also through the dynamism and strong appeal of our outbound and inbound marketing campaigns. We hope to build a brand that can consistently influence the buying decision of the customers in the industry.
Competitive Environment From our recently concluded feasibility studies and market survey, we observed that there are several cleaning and laundry businesses scattered all over the city of Cape Coast, as a matter of fact, there are two or more laundries in same locations in some areas. This goes to show that there is stiffer competition in the industry. Before launching our Laundry, we have critically studied the market and we know that we will have some form of competitive edge.
Our competitive advantage is that we will have a standard Laundry and cleaning facility that offers additional complementary services that will definitely help us attract and retain customers. With time, we will be having state of the art Laundry facility with latest and easy to use laundry machines washing machines, dryers, industrial irons et al. We will be centrally located in one of the busiest areas in Cape Coast and we are open to all the available opportunities that the city has to offer.
Amamoma is one of the densely populated communities in the Cape Coast, and indeed the population translates to opportunities. Once a Laundry is conducive and relaxing, it sure attracts customers. This is the strategy that will help Laundry attract customers. This is why we will add fun centers, snacks and hiring attendants who are friendly and helpful. We also ensure that we provide are cleaning services as quickly as possible and within the set time as prescribed by the client.
We will of course provide quality services. We are a new business competing largely against established companies. To significantly build sales, we must not just find new customers—we must take customers away from existing firms. However by offering a superior and quality services we can quickly build strong relationships. We believe that in order for our business to thrive, we must reach out to people and give them genuine reasons to subscribe to our services.
Our brand of marketing will be an aggressive and effervescent one, where we will strive to convert every potential prospect into a client within a period of 30 days. This is the reason why we will be channeling our resources towards inbound marketing, as it allows us to connect with potential clientele and stay in touch with them at all times. Our Cleaning Business Advertising Strategy Our advertising strategy will be no less exuberant than our marketing strategy. We believe that it is all about forming a brand and enticing people to associate themselves with the brand in ways that appeal to them the most.
Unlike other cleaning companies, we do not simply want to sell services that people can make use of. Instead, our goal is to sell experiences that people can thoroughly enjoy. Sales Strategy Once a client shows interest in our cleaning service, our sales team will be implementing a number of different tactics to retain the interest of the client and make sure that a contractual agreement is reached.
The idea is to make the clients feel that they are getting more than what they are paying for. Publicity Our approach to generating publicity for our business will be divided into three steps. The first step is to convince trade magazine to publish a feature on our start-up company and the potential of our services to change offices across the neighbourhood.
The second step is to send our representatives to the local radio stations to promote our business and educate listeners on what we have in store for them. The third and final step is to partner up with manufacturers of cleaning products and provide discounts on our services to people who purchase their cleaning products.
Short videos will also be circulated to create the awareness of the general public. We will also open our business with a party and free trial for all our visitors for the first three days of launching the business. We will also do door to door advertisement, sharing stickers and posters, make use of attractive hand bills to create awareness and also to give direction to our facility. Services Our services are going to be driven basically by making available standard and safe Laundry facility, excellent customer service and provision of complimentary services.
We will work hard to build a loyal customer base; customers that will always patronize us over and over again and as well help us use word of mouth publicity to get their friends and acquaintance to patronize us. We want to drive sales via making available easy to use washing machines, dryers and industrial irons et al.
We are quite aware of how satisfied customers drive business growth especially businesses like Laundry and cleaning services which is why we will always ensure that our customer service and facility are top notch. Be that as it may, the management have put plans in place to offer discount services once in a while and also to reward our loyal customers especially when they refer clients to us.
The prices of our products snacks, detergents et al will be same as what is obtainable in any part of the country. Payment Options Payment policy is going to be all inclusive because we are quite aware that different people prefer different payment options as it suits them. We will offer door to door pick up and return of clients clothes. This will alleviate that burden on customers to bring their things to the place. Quick response to clients when called to clean their offices and homes.
Without a well-defined revenue model, that is, a clear plan of how to generate revenues, new businesses will more likely struggle due to costs which they will not be able to sustain. By having a clear, a business can focus on a target audience, fund development plans for a product or service, establish marketing plans, begin a line of credit and raise capital. We have identified which revenue source to pursue, what value to offer, how to price the value and who pays for the value.
We have chosen two revenue models that well suit our business and will help in revenue generation. These are; subscription model and fee-for-service model. Thus services are unbundled and are paid for separately. With model we will charge our clients considering the area of the place to be cleaned or the number of clothes to wash which they will pay either before or after the service is offered.
Subscription model In the subscription model, the business provides a service to a customer who in turn pays a pre-determined fee at contracted period of time to the business. With this model we intend to offer weekly, monthly and possibly yearly subscriptions to clients in which they would pay a fee for the laundry or cleaning services we would offer for a particular period of time. We would continue to offer the services paid for by the client until the contract expires.
We have gotten a place of operation and will be registering it soon. The business is going to be a partnership business among the members of the group. We will be having a daily routine of service in which we go to clients to offer our services. Considering the market size, we would need to employ a number people so that we would distribute ourselves to all the areas are services would be needed. Because we are a small business, we do not anticipate a meaningful or prompt reaction to our market entrance from our larger and more established competitors.
We think a strong reaction from existing cleaning companies is particularly unlikely. However, we have developed contingency plans for certain reactions that competitors may make. If a competitor lowers their prices on the exact same product we are offering we will match their price on that product.
But we intend as much as possible to emphasize services that our competitors are not offering to begin with. Business involves risks and ours is no exception. A number of risks exist which include the possibility of having lower than anticipated profits or experience a loss rather than taking a profit. Business risk is influenced by numerous factors, including sales volume, input costs, competition, and the overall economic climate and government regulations.
Thus, there is uncertainty in profits or danger of loss and the events that could pose a risk due to some unforeseen events in future, which causes business to fail. This building located in Amamoma near Prudential bank has 8, feet of space and a small square foot office. The building is located in a busy neighborhood. This building will be furnished with state of the art laundry and cleaning equipment.
We also have complementary services. By focusing all of our effort and energy on this particular niche, we expect to quickly develop and maintain a leadership position. While other firms try to be all things to all people, we believe that our singular focus will give us significant advantages. Most of the companies serving this niche now also serve much larger markets and give only secondary attention to the students. On the other hand, our firm will give our total focus to this niche; our key people will stay in personal touch with customers in this niche; and we will be able to respond to changes in this market much faster than our competitors.
We will offer the best, most highly personalized service in the marketplace we serve. Especially being a very small, owner-operated company, we intend to use this to our advantage to be absolutely certain that every one of our customers receives excellent service.
We will go out of our way to make sure that our customers know that they truly matter to us. We will also make display suggestions and to create a number of displays that can be adopted to the needs of particular customers. As we focus on the students initially, we will widening out to reach lecturers, offices, and corporate organizations, individuals in the community. The Market Analysis table indicates the estimated number of potential customers and their growth rate.
No major newspaper ad campaign is planned. However, we shall run weekly specials. In addition, we shall have an incentive program for referrals. Those customers who refer someone else to the store will be rewarded with two free washes, and the referee will receive an introductory gift of a free wash.
In addition, we will ensure a clean environment, reliable machines, and friendly, prompt services. 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. Your business plan can look as polished and professional as this sample plan.
It's fast and easy, with LivePlan. Don't bother with copy and paste. Get this complete sample business plan as a free text document. Download for free. Our Mission : To provide convenient, clean, and friendly laundry service.
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.
Your business plan can look as polished and professional as this sample plan. It's fast and easy, with LivePlan. Don't bother with copy and paste. Get this complete sample business plan as a free text document. Download for free. Our Mission : To provide convenient, clean, and friendly laundry service. Our Advantages Universal Laundromat would like to set itself apart from other laundromats that may offer only one or two services.
In addition, there are two apartment complexes located nearby. In addition to being the sole laundromat in this neighborhood and surrounded by residences, there is no potential for a competitor. Convenience : offering clients services ranging from full-service washing and drying to optional folding, and extended business hours. Environment : providing an environment conducive to giving clean, friendly, and professional service. Reputation : long-term reputation resulting from friendly, professional service will encourage customers to return.
Industry Overview; The Laundromat in the US industry consists of Washer services, dryer services, self-service dry cleaning, commercial laundry services and others But where do you start? Complete financial plan details are located in section 7 Laundry business plan South Africa starting a laundry business - this section provides a list of the areas addressed in the business plan A business plan is a detailed blueprint for the activities needed to establish a business i.
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Little did we know that policies play an important role not just in achieving the company's success but also in achieving our own goals and personal and career development.
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