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Hernandez 1
All In One Laundromat
Erica Hernandez
BUSMGT-45-26029
Professor Tostado
November 28, 2022
Hernandez 2
Abstract
With many new electro-domestic innovations, we can say that many new laundromats have benefited from the new fast and more energy-saving washing and drying machines. Little research has been done comparing an outdated laundromat and an eco-friendly one. We can expect to see some results of old and new laundromats in my area and we can investigate the success and convenience of an eco-friendlier one. The water-saving and energy-saving washers help the environment save water and energy and time for the customer. The old machines require
more water and more energy used with longer wash times. If the outdated washer machine is working all day, we are wasting millings of gallons of water and energy. By doing an eco-
friendly laundromat we can assure our customers that they are helping the environment by washing their personal clothes and blankets with smart machines. The new machines will have a faster wash time and we can also expect a lower utility bill at the end of the month. From our findings we can compare two laundromats in my area one has been updated and remodeled and the other one has been the same for more than 10 years. The new place has more customers and is always full the old laundromat always has issues with the machines and many are out of order.
The customer base it had years before has significantly declined due to the old washers and dryers. The conclusion is that a new high-efficiency laundromat will draw in more customers for their laundry needs.
Hernandez 3
Business Description
The name of the business is All in one Laundromat. An LLC is the best choice because we will have fewer regulatory requirements. We will be able to keep our personal assets separate from our business assets. The type of business is a laundromat, soap shop, laundry accessories for sale, and onsite arcade games snack and drink vending machines also. My organizational structure will include a manager and three employees.
My preferred location is 222 E G St, Ontario CA 91764. It is a shopping center and has many
apartments within a half mile of the location. My mission in opening a new eco-friendly laundromat with high-efficiency washers and dryers is not only to help the environment. To help bring customer peace of mind when using our machines, they are also helping our planet. With the many extra items, we will sell, our customers will have peace of mind and we will be a one-
stop shop for all their laundry needs.
Financial Analysis
The initial investment will have to be around $200,000 and that is the lower end of the investment. We will have to make it work with the minimum; The big part of the money will have to go to the machines since they range from $2000 to $3000 each. The next part is remodeling the shop to be able to fit the washers and dryers and vending machines. The monthly rent and utilities will also be part of the initial investment until the shop is up and running and start producing income.
Hernandez 4
My avenues of finance will have to be some of my personal savings and the rest a loan from my bank. Business expenses will be labor for the remodeling and rent, a plumber to help with the
installation of machines, and an electrician to make sure the machines are well connected. The price per wash will be $1.00 cheaper than laundromats in my area. The large wash is $8 and we can price it at $7. The medium wash is $4.75 we can price at $3.75 and the small wash is at $2.25 we can price at $1.25. We can start building clientele, based on the research for the laundromats it has an ROI, of 20
to 35% and a success rate of 94.8% by doing simple math we can say that we can easily get a profit of $200 to $350 per every $1000 we invest (Wu, T.). If we can make $200 profit per day that is $6000 a month we have for rent, utility bills, and maintenance. Rent is $1500 a month and
utility bills are $ 1000 per month and maintenance is $300 since new machines require less maintenance. The employee’s pay will be $1800 a month for the three employees. The manager position and accounting position will be for me for a couple of months until the business is running smoothly my pay will be the left-over profit. Competition Analysis
My target market is all ages we all need to do laundry. Customers we will attract are nonhomeowners that do not count with a laundry system in their homes. Or even homeowners that do not have a washer and dryer or simply theirs is out of service. Make laundry services the easiest possible for the elderly since they are the majority that goes to the laundromats. Or even high schoolers that do not count on laundry service at home they can come and wash in my store.
An important note is that even the homeless can use a washer and dryer. My marketing strategy
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