Opportunity

Problem

Each person requires clean clothes. Some families cannot afford laundry soap or a washer dryer.

Solution

Universal Laundromat can provide washing, drying, and folding services from the moment it opens. 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 is different from other Laundromats because we are committed to providing friendly, efficient, prompt and most importantly, convenient service.

Market

It has been proven that word-of mouth advertising is the best way to advertise. There is no major newspaper advertising campaign planned. We will however run weekly specials. Incentives for referrals will also be offered. Referring customers to our store will result in two free washes. The referee will also receive an introductory gift, which is a complimentary wash. We will also ensure a clean environment and reliable machines as well as prompt, friendly services.

Competition

Universal Laundromat would love to be distinguished from other laundromats who may only offer one service. 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. These services include folding, and possibly pick-up/delivery service. It’s our convenience that sets us apart.

Why Us

Universal Laundromat offers full-service coin laundry (washing and drying, with optional folding), and is committed to providing high customer satisfaction. It provides reliable machines, as well as a clean and enjoyable environment at an affordable price.

Expectations

Forecast

It is important to keep in mind that the principal will decrease, so that the loan’s minimum monthly payment should decrease. The table also shows the profit after deductions for expenses and loan payments. The net profit will then be used to reduce the loan term by paying an additional amount.

Financial Highlights for the Year

Finance is required

Mister Mihn Doung has a small permanent shop that sells powertools every weekend in 7th Berryessa Flea Market. On average, the store earns $4,500 per month in revenue. On average, the store earns $2,500 per month in profit. Given the potential in the coin-op laundromat business, he would love to tackle more challenges and start a new venture.

Universal Laundromat seeks $150,000 additional loan financing to achieve this goal. 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.