In 2023 there is a greater demand for laundromats than ever before because more people are renting and don’t have access to a washer or dryer in their homes.
With the demand for laundromats, you may be thinking that it’s going to be easy to open your laundromat and just start serving customers.
The reality is that the key to every successful laundromat all comes down to one thing, having a well written business plan.
Why Do You Need a Business Plan for Your Laundromat?
You may be thinking that a laundromat is the easiest business to start because there’s only two simple components of the business: Wash and Fold, but the reality is that you need to also have a plan for how you’re going to attract customers, satisfy existing customers, and grow your business.
By writing down a solid business plan for your laundromat, you will be able to successfully grow your business, even during a recession or economic downturn.
What To Include in Your Business Plan
Executive summary – An overview of your laundromat which tells potential investors what the business is about, who you will serve, and how your business will be different than competitors in the area.
Company Overview – This part of your business plan should detail the how/what/why of your company including how the company started, about the owners or partners, location, business hours and legal structure of the business.
Marketing Plan – Once the foundation of the business plan is laid it’s essential to also include a marketing synopsis for how the company will attract new business and grow. This plan should be itemized and show potential investors that the owners know how they are going to market their business instead of just waiting for customers to show up.
Don’t Neglect Your Business Plan
Now that you have a basic ‘framework’ for your business plan, it’s important that you get started writing it out sooner, rather than later, because your laundromat will only benefit by having a detailed plan.
Thankfully, creating a business plan is easier than ever before, especially when you use online tools or software to help you get it set up properly.
Invest in creating a great business plan before you open the doors to your laundromat, you will be glad that you did!
By Jeremy Raglin, Content Writer