I. Executive Summary
This Section's Contents
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[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.
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
[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
[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].
[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.
[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 1||Year 2||Year 3||Year 4||Year 5|
|Income Tax Expense||$13,344||$19,409||$52,349||$83,334||$114,128|