Entrepreneurial Guides: How to Start a Laundry Business
Consumers still rely heavily on laundromat facilities. We look at how to start a laundry business and what steps you need to take to get off the ground.
Did you know that there are around 35,000 laundromats across the United States of America? Making the decision to start a laundry business might seem like a big deal but there are steps that you can make that will simplify the process and help you bring in profits before you even know it. A laundry company is easy to run and is a great way to make a living if you have the right laundry equipment.
It could even have the potential to grow into more if you wanted to combine it with commercial office cleaning services. A big part of your success will come down to having the right commercial laundry equipment and picking the right location.
The good news is that you’re in the right place to learn all about getting your laundry company off of the ground and bringing in money. Keep reading this article for a helpful checklist for starting a laundry business today.
Decide What Type of Laundry Business
There are a number of options to choose from when you decide to start a laundry business so it is wise to have a strong idea of the type of laundry business you want to start. A good starting point is finding an area that has a lot of apartments as these areas often don’t come equipped with their own laundry facilities.
You’ll also need to decide if you want to settle for being a laundry company that allows customers to come and use your machines to do their laundry or if you want to offer wash and fold services. That service allows your customers to drop off their laundry and then pick it up when it is done.
No matter which of these options appeals to you the most, you need to make sure that you’re getting the right commercial laundry equipment for the job. You don’t want to offer a service that you can’t complete in an efficient manner as that will result in upset customers.
Choose a Name
One part of choosing to start a laundry business that is more difficult than it seems is choosing a name for your laundry company. This is your chance to get creative and clever with your name. It is important that your laundry company name is something that is memorable while also descriptive about what your business does.
Put together a list of potential names that you like and then start doing your research into whether they’re already taken. If you’re not sure where to start when checking to see which names are taken then check the website for your state’s Secretary of State. Most of these websites have the taken names listed in a directory.
If you find the name that you want and it isn’t taken then odds are that you’ll have the option to reserve it for a specific period of time. If you’re not at a point where you’re ready to register your business then reserving your business name is a wise move.
Write a Business Plan
The next step of starting a laundry business is writing up your business plan. A good estimate for your business plan’s length is somewhere between 30 and 50 pages. It needs to be comprehensive and cover as many aspects of your laundry company as you can think of.
If you’re not comfortable writing your own business plan then there are plenty of templates that you can use or purchase for your laundry company. Make sure that your business plan has a summary of the type of business that you’re starting. You also need to get into detail about your company structure and list any key employees that are helping you run it if you’re not on your own.
The next thing to do is conduct a market analysis. Look at the demand in your area and decide if that is the right area to start your laundry business. You should also look for any competitors in the area and determine who your target audience is. More information visit this site: mynewsport
Register Your Business
If you reserved your business’s name then you’ll finally get to make it official once you take the steps to register your business. Not all businesses need to register with the state but odds are that your laundry company will need to if you plan on operating in a legal manner.
You’ll want to look up the laws of your state as some states allow businesses to register online rather than in person. If you’re unsure of your state’s requirements then you should consult with a business lawyer in your area.
Get Permits and Licenses
Each state is different, but there are likely different permits and licenses that you’ll need if you want to start a laundry business in your state. Some states require only a general business license like a water pollution control permit. Other states have specific laws and permits required for running a laundry business.
You’ll also need to get special permits if you plan on running wash and fold services at your laundry company. You might want to get in contact with a business attorney and let them know your business plans before taking any of these steps. They’ll get you started on the right path for the permits that you’ll need.
Pick a Location
Picking a location is a vital part of finding the success that you crave for your laundry company. As mentioned earlier, it is never a bad idea to set up shop in an area that is rich with apartment buildings. Your market analysis is a huge tool for finding that perfect location for your business.
Your best bet is to find Commercial Laundry Leases for a building to operate out of and the laundry equipment needed for doing the job. Laundry businesses are different from other business building leases because they require certain hookups for the plumbing as well as the electricity, so keep that in mind when picking out your building to lease.
You need to make sure that you’re getting the right mix of location and building. Having the right building in the wrong location won’t allow your laundry company to reach its potential. Having the wrong building in the wrong place will also result in difficulties as you’ll need to pay to modify the building’s electricity and plumbing.
One thing to think about that is a bit outside of the box is the security at your laundry company. Robberies are a real threat when it comes to a laundry company so you shouldn’t be afraid to invest money into security measures like a surveillance system. Try to pick a visible and public location for your laundry company building.
Get the Right Commercial Laundry Equipment
Getting the proper laundry equipment is another thing that you need to do if you want your laundry company to succeed. Calculate the amount of space that you have in your building and get the number of dryers and washers that will fit in that space according to the code in your area.
There are other machines and equipment that you should look at getting. A change machine is vital since most laundry machines use coins in order to operate. A lack of a coin machine will make the customer experience a frustrating one. You should also consider using a credit card payment system since not everyone carries cash or coins on them.
Laundry carts are another essential that will make moving laundry from one part of the building to another a much easier task. Getting oversized washers and dryers is a great move because it reduces the amount of time that your customers spend doing laundry.
Vending machines are also a wise investment. Odds are that your customers will get hungry or thirsty during the time that they’re spending doing laundry. It will add to your business’s revenue.
Start a Laundry Company Bank Account
After you’ve purchased or leased all of your commercial laundry equipment, the next step is to open your laundry company bank account. If you’re wanting to keep your laundry business’s money separate from your own then this step is necessary before opening your doors for business.
In addition to keeping your finances more organized, it is also a great way to boost the credit score of your business. If you have your eyes towards expanding your business then having a good credit score is vital. It will allow you the resources that you need in order to get the best laundry equipment in the future. Visit this site for more information: rtsnet
Market Your Laundry Company
Marketing your laundry company is important because it will notify your target audience that they have a new option for places to do their laundry. Make sure that you’re making good use of free marketing tools like social media. You should also start a website and place an emphasis on SEO in order to increase website traffic.
Start a Laundry Business in Your Area
Making the business decision to start a laundry business is a big move and it takes a lot of thought and effort if you want to do it the right way. Make sure that you find the right location and a suitable building for your laundry company. You should also make sure that you’re getting the best commercial laundry equipment. Click here and show more information: newstheater
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