Universal Laundromat is a full-service coin-op laundry (washing, drying, and optional folding) service dedicated to consistently providing high customer satisfaction by rendering reliable machines and furnishing a clean, enjoyable atmosphere at a competitive price/value relationship.
Our Mission: To provide convenient, clean, and friendly laundry service.
Our Motto: "Professional, convenient, friendly service and competitive pricing"
The timing is right for starting this new venture. After patiently searching for two months for the perfect location, one was finally found. The demand of laundry service, the ambitions of the owner to one day start his own laundry ...view middle of the document...
1.2 Keys to Success
The keys to success in our business are:
• Location: the potential business is to be located in a nice small shopping center of a poor to lower-middle class, ethnically Mexican neighborhood, where it's the closest and most convenient place to get services. In addition, there are two apartment complexes located nearby. In addition to being the sole laundromat in this neighborhood and surrounded by residences, there is no potential for a competitor.
• Convenience: offering clients services ranging from full-service washing and drying to optional folding, and extended business hours.
• Environment: providing an environment conducive to giving clean, friendly, and professional service.
• Reputation: long-term reputation resulting from friendly, professional service will encourage customers to return.
Universal Laundromat will, upon commencement of operations, supply full washing, drying, and optional folding services. We will also provide quality products to ensure clean washing of clothes as well as household retail products to meet the demand for easy access for the neighborhood. What will set Universal Laundromat apart from the competition is our commitment to providing professional, friendly, prompt, and, most importantly, convenient services.
2.1 Start-up Summary
This laundromat is a rare business opportunity that not many people can get. Having an excellent proven track record of steady income, the current owner is reluctant to sell. However, in desperation of a large sum of money to pay back loans before his retirement, he is, in a way, forced to sell. Nevertheless, this sale has not been announced or listed to the public yet. Priority is given to acquaintances before being given to the public. Being an acquaintant, Minh has first priority to the business opportunity.
|Start-up Funding |
| | |
|Start-up Expenses to Fund |$225,500 |
|Start-up Assets to Fund |$7,262 |
|Total Funding Required |$232,762 |
| | |
|Assets | |
|Non-cash Assets from Start-up |$0 |
|Cash Requirements from Start-up |$7,262 |
|Additional Cash Raised |$0 |
|Cash Balance on Starting Date |$7,262 ...