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Wash and Fold

Most Laundromats offer various services like dry cleaning, ironing and wash and fold. Additionally, many offer pickup and delivery services to their daily customers working in positions where a suit and tie are the daily uniform. Also, profits from coin operated laundromats are very good. But startup cost can be high because new equipment, especially dry cleaning machines are high dollar products. But there are ways around the initial high dollar outlay.

Two ways to cut initial startup cost are to buy an existing laundromat that is already established but not turning the profit it should. And the second and most important is to purchase a franchise. Franchising is the best kept secret of the 21st century. The reason for this is that with a franchise you are buying a “branded name.” Here are a few steps for you to consider when you start your own laundromat business.

Step 1
You can start your Laundromat by searching for a strategic location. A big profile location, that has plenty of parking and on a busy street, is a must for a business like this to succeed.

Step 2: You can contact your country or city business license department and start applying for application prior to opening your Laundromat.

Step3: Shop for insurance for your Laundromat early to ensure your Laundromat is safe from future loss because of an accident.

Step4: Do research on Laundromats in your area before opening one. You might want to expand your future Laundromat to be a partially automated or fully automated one that includes extra services such as dry cleaning or pickup and delivery.

Step5: Before opening your own Laundromat, you will need to decide whether you want to make your Laundromat an independent business or a franchise partnered with a name brand Laundromat business, promising higher profits, with lower investments initially.

Step6: Always make a business plan before opening your own Laundromat since you will need to have of strategies to compete with other companies in your area.

Step7: Advertising plays a big role in every business and is one of the highest costs to ensure success. Allocate at least 1/3 of your initial startup cost to this area.

One of the best ways to be successful in any business newly started is through the process of “Franchising.” Remember step 7? You can cut that cost to hundreds of dollars in the initial stages, instead of thousands by franchising. Why? Because by buying a franchise you are buying a successful advertising and marketing plan. These companies already have a well established name, well recognized for quality and service. Franchising also helps with steps 1 through 6 as well. They have working business plans and a solid marketing strategy.

Make a Plan to Succeed in Business

The most important reason to write a business plan is probably to save your house, or grandma’s nest egg, or whatever investment you are putting at risk. A business plan will help you learn more about your business and serve as a tool for communicating with others, such as bankers or investors.

Here are seven things to know about business plans:

  1. Most businesses are started without written plans. For the most part, plans only exist on a napkin or in the owner’s mind. Business planning is an unfamiliar trek for most people, and too often the task is avoided until they are urgently needed to get a loan.
  2. By the time a business plan is printed, it is probably already out of date. Enterprises continually adapt to their surroundings and the plan is a living document that gets updated at strategic times.
  3. Business planning is an organic, non-linear process. At any given time, you will be more knowledgeable in some areas than others. Effective business plans arise from building on strengths, developing strategies to mitigate weaknesses, and innovating as you learn more about your business.
  4. The further a business plan projects into the future, the less reliable those projections will be. It’s entirely likely that year five predictions will be less accurate than year one.
  5. A professionally prepared plan does not guarantee a business will succeed. A picture-perfect business plan is not worth the paper it’s written on unless the owner understands it thoroughly. The real value of a business plan is the knowledge you gain by doing it.
  6. Plans that call for aggressive early stage spending will meet with resistance, especially where the shopping spree is predicated on using borrowed money. It’s usually healthier for a new business owner to solve problems through innovation, ingenuity and frugal investment of available resources.
  7. While a business plan will help to increase your knowledge about your business, it will not do much toward helping you develop business trade skills, such as how to handle money, how to buy, sell and pay. Business trade skills are more likely to be learned from managing a paper route or operating a lemonade stand. Owning a business is the best way to learn the basic survival skills like knowing how to read the market, how to learn from it and how to change your mind.

Your business plan is more for you than it is for your banker. It will enable you to prove your business case, and to be reasonably sure that your venture can survive.

Once you’ve debunked your own assumptions and gathered enough evidence to demonstrate viability, you’ll have more confidence in your business idea. Armed with a better understanding of your business and realistic financial projections, you will be much better positioned to discuss your business with those who might help you.

Why Work For Someone Else When You Can Start Your Own Painting Business?

If you enjoy your painting business you need to ask yourself why you would settle for working for someone else? Depending on the location where you live as well as the person you work for, the wages can be from $8 an hour to $30. You can make a very comfortable living though when you are the owner of your business.

It can be quite an adventure to branch out there on your own. Still, if you have the right skills you should be confident enough in them to do so. You don’t have to rush into starting your own business. In fact, if you take your time to be sure you have everything in place you will be more successful.

You can learn a great deal about business when you work for someone else. Think about the things they did that worked well and what didn’t. Think about how they treated their customers and their employees. Are those practices you wish to follow or will you be looking for even better solutions?

You will need the right equipment, and that is something to carefully consider. If you can save money now to invest in that equipment you will be better off. That is because you won’t have as much overhead expense hanging over your head as it gets going. When the overhead is too high it can be difficult to get a profit.

If you really enjoy the business and you have the right attitude you can be very successful. This is the type of business people need for a variety of reasons. As you complete more work you can create a great reputation for yourself and the business. People love to share stories about work they have had done. You want to make sure everything they have to say about you is going to encourage others in need of a painting business to contact you.