Are you interested in starting a laundry business from home? Do you need a sample laundry business plan template or feasibility study? Do you want to know what it takes to build a successful laundry business? Then i advice you read on.
A
laundry business, also known as a dry cleaning business can be an easy
and profitable business to start. There are many aspects of laundry
businesses that you can engage yourself in, which includes dry cleaning
franchises, home-based laundry, etc.
Knowing how to
begin a laundry business usually starts with selecting the right type of
service you will offer but before we look at the steps to starting a
laundry business, let’s first look at the pros and cons of a laundry
business.
5 Reasons to Start a Laundry Business
- Laundry business is an easy and convenient business to start
- It is not capital or management intensive
- You can start this business right from home and grow from there
- It is a very lucrative business, as not everyone that puts on clothes has the time to do the laundry involved thereafter. Many people have a tight schedule, so they consider it a waste of time doing their laundry. This is the reason why you stand a chance of making a lot of money because this people will definitely seek your services.
- You are your own boss. One of the wonderful advantages of establishing your own laundry business remains that you will have freedom to do your things your own way. You won’t be taking orders from anyone except your customers.
How to Start a Laundry Business – Sample Business Plan Template
1. Consider your financial resources
To kickstart your laundry business, you will be requiring a minimum of N200,000 ($1,500).
You may decide to get a franchise to reduce the level of risk but this
may result in lesser control over your business and additional overhead
in the form of royalties and all other expenses. Yet, a franchise is a
nice option because of its marketing and operational benefits, among
others. However, you can start this business right from home especially
when you have little or no money.
2. Draw your business plan
A
business plan is very crucial to the success of any business. You have
to describe the way you would like to run your business in writing. List
the services you will provide including specialized ones such as
pick-up and delivery, wash-and-fold, etc.
You should also determine your target market and demographics. Are your target customers apartment building residents, busy professional or college students?
This is an answer you must find and a good way to find such an answer
is by conducting a feasibility study. You should also carry out research
on how well other laundry businesses in your locality are surviving and
meeting the population requirements.
3. Look for an appropriate location
Except
you intend operating from home, your business location is something you
should not handle like a pinch of salt. When choosing an operating
space or location, you need to look for an area that is accessible and
close to apartment buildings. This will help attract customers who do
not have laundry machines at home. However, you must not open a store
near a competitor; except the competitor is not up and doing or you feel
you have a competitive advantage.
4. Buy the necessary equipment
After
spotting and securing a good office space, you will need to order for
dryers, coin machines, washers, pressing iron, laundry carts, detergents
and vending machines.
You
can make a search for an online auction sites for deals on used laundry
equipment. You can also purchase top-load washers to economize your
money. Or better still, you can lease or rent equipment and run your
business until you are bouyant enough to buy your own equipment
outright.
5. Secure a permit and register your business
On
this aspect, you have to visit your city clerk or local government
secretariat to apply for a business permit or license. You also need to
find out if your municipality requires you to acquire a health
department license, water pollution control, fire department permit or
air permit. You should make payments for any sewer connection and waste
water fees required by your city clerk. After that, you can proceed to
either register a business or incorporate.
6. Market your laundry business
After
your business is up and running, you should endeavor to advertise it. A
good way to start is by placing door hangers on apartment building
doors. You have to include a list of your services and offer coupons to
your new customers.
You should also differentiate
your laundry business from your competition by emphasizing on any
specialized services or perks you offer, such as free wireless internet,
televisions and couches. You should as well hang fliers on local
bulletin boards and place ads on online newspapers or in print.
4 Marketing ideas for Laundry Service business
- Do a house-to-house sales call and let your neighbors know that you are in business. Also tell them the kind of services you offer.
- Print fliers or brochures and have them distributed within your locality.
- Visit offices, workplaces and corporate organizations and let them know the type of services you offer.
- Place of directional sign post at strategic locations within your neighborhood.
- Advertise your business on print and electronic media
- Put your business on the web and get on social platforms like Facebook, Twitter, etc
4 Challenges of Starting and Running a Laundry Business
- It can be capital intensive especially when starting on a large scale, as the equipments required are very costly.
- It requires a technical know how. You can’t just wake up and setup a laundry shop. You will need to first know how to run a laundry shop, operate the machines, take customers order, sort the clothes, etc. Therefore, establishing a laundry business requires a lot of technical experiences in order to be able to manage and control the affairs of the business.
- Power failure and outages. The laundry business is highly dependent on electric power supply because all the machines use electricity. Now when there’s power failure or outage, you would have to resort to alternative power supplies such as generators, to be able to stay in business. This will invariably increase your cost of doing business.
- Finding good customers is a herculean task that requires a lot of planning, resources and marketing effort.
- Competition. This can force you out of business especially when you are not prepared and you don’t have any competitive advantage.
Hi. I’m Designer of Blog Magic. I’m CEO/Founder of ThemeXpose. I’m Creative Art Director, Web Designer, UI/UX Designer, Interaction Designer, Industrial Designer, Web Developer, Business Enthusiast, StartUp Enthusiast, Speaker, Writer and Photographer. Inspired to make things looks better.
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