Laundromat Business Plan Template [Updated 2023]

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I. Executive Summary

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Business Overview

[Company Name] is a local laundromat that caters to individuals and businesses in [location]. It features 50 top-of-the-line washing machines and dryers, so it can accommodate a large number of customers at a time.

In addition to do-it-yourself laundry services, [Company Name] also offers drop-off services where we will wash, dry and fold your laundry for you.

[Company Name] will be open 24 hours a day and offer complimentary wi-fi, coffee, televisions and vending machines.

The laundromat will also have an attendant on duty to help with any laundry issues.

Products Served

The following are the services that [Company Name] will be able to provide to its clients:

  • DIY, coin-operated wash and dry
  • Drop-off wash, dry and fold
  • Laundry delivery and pick-up

Customer Focus

[Company Name] will primarily serve the residents who live within the city. The demographics of these customers are as follows:

  • 310,431 residents
  • 96,025 workers
  • Average income of $52,000
  • 42.6% married
  • 39% in Mgt./Professional occupations
  • Median age: 35 years

Management Team

[Company Name] is headed by its founder, [Founder’s Name] who is a business consultant. She graduated from [University] with a degree in Business Administration. Her experience with small businesses ensures that she is able to handle the laundromat successfully and her local connections help her build a solid client base.

Her partner is an experienced operations director who will help manage [Company Name].

Success Factors

[Company Name] is uniquely qualified to succeed for the following reasons:

  • [Company Name] will fill a specific market niche in the growing community we are entering.
  • In addition, we have surveyed the local population and received extremely positive feedback saying that they explicitly want to make use of our services when launched.
  • Laundromats are a proven, successful business in the United States.
  • The management team has a track record of success in service-related businesses.

Financial Highlights

[Company Name] is seeking a total funding of $250,000 of debt capital to open its laundromat business. The capital will be used for funding capital expenditures and location build-out, hiring initial employees, marketing expenses and working capital.

Specifically, these funds will be used as follows:

  • Laundromat design/build: $90,000
  • Working capital: $160,000 to pay for marketing, salaries, and lease costs until [Company Name] reaches break-even

Topline projections over the next five years are as follows:

Year 1Year 2Year 3Year 4Year 5
Revenue$200,000 $300,000 $400,000 $500,000 $600,000
Total Expenses$176,390 $230,030 $250,431 $261,901 $273,920
EBITDA$23,610 $69,970 $149,569 $238,099 $326,080
EBIT$23,610 $69,970 $149,569 $238,099 $326,080
PreTax Income$23,610 $69,970 $149,569 $238,099 $326,080
Income Tax Expense$13,344 $19,409 $52,349 $83,334 $114,128
Net Income/Surplus$10,266 $50,561 $97,220 $154,764 $211,952

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