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Coin Operated Laundry Business Plan
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Laundry Place is a coin-operated laundromat (self service laundromat) located
in Metropolitan. It will comprise of two separate laundries with annual
revenues exceeding $120,000. Laundry Place will not be the typical
run-of-the-mill laundry, but have a children's play area to keep children
occupied. It will be an updated, clean location for weekly cleaning. Initial
services will include washers and dryers, detergent sales, and vendor sales,
with plans to add 'fluff and fold' service.
Laundry Place will take the place of the existing business, Matt's Laundry that
is being sold to Gadda Mooga and Edgar Pekin. Matt's is being sold due to
health issues with the prior owner. There are only two other laundromats in
Metropolitan, limiting the number of competitors.
Laundry Place is requesting a $350,000 term loan for the purchase of two
buildings and laundries. The funds will be used to purchase two existing
laundromats at 100 Main and 1500 1st Street in Metropolitan. The funds will be
repaid through operations and positive cashflow. Estimated annual revenues
exceed $120,000 in year one, and are divided equally between both facilities.
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