Wondering how to start a commercial laundry business? As many banker will tell you, the first step is putting together a compelling business plan. The commercial laundry business plan should outline what your facility will be like, how you plan to acquire client accounts, and what the commercial sector looks like in your region. How many linens-heavy businesses operate within 5-10 miles of your laundry operation? This is important information and you should search for figures that will help "make the case." Also important for your plan:
• What will the average contract value be?
• Do you know what your buildout and equipment costs will be?
• How much capital must you seek and when could the venture hit break-even?
• What are your staffing needs?
• What industry stats can you use in the plan to support your argument that this can be a profitable enterprise?
You should also address the competition you will face and make an assessment of the market share you can control locally within 3-5 years. This should flow through to your financial model, which needs to provide a 3-5 year forecast of sales and expenses including a break-even point, loan repayment schedule, and a monthly chart for the first year post-funding. MasterPlans can help you prepare any part or the entire business plan, from research to modeling to editing and review. Call us today at 877-453-2011 for a free quote on your laundry project.
