If you’re planning to open a self-service laundromat or full-service dry cleaner, there’s a lot to consider. You need to fully understand the concept of your operation before you set out to write your laundry and dry cleaning business plan.
Understand Your Financing Options
What financing do you plan on using to support your business? Maybe you have investors lined up, or perhaps you’ve started the process to secure a small business loan. You may even have your own money you plan to invest. Regardless, have a good idea of where your money is coming from.
Determine Revenue Streams
What services will you provide and how much will those services cost to execute? Some services will cost you more in supplies and employee labor. There are many options to generate revenue in the laundry business:
- Coin-operated machines
- Drop off/pick up laundry service
- Dry cleaning service
- Stain removal
- Laundry supplies (detergent or dryer sheets)
Decide which services match the business you have in mind and determine which will be the most cost effective.
Factor in Insurance
Once you know what services you’ll offer, you’ll be able to determine the risks your business may encounter during daily operation. Protect yourself and your business from disastrous situations by investing in a good insurance plan.
A laundry and dry cleaning business plan needs to outline your financing and personal investments, list your streams of revenue and explore your insurance options. Make sure you understand your business before you take any big steps.