To start a Laundromat, one should begin by researching how to create a business plan and a marketing plan. Creating a business plan and a marketing plan for a Laundromat is the most effective way to explore the potential viability of a new or existing Laundromat business.
If borrowing money from banks or investors will be needed for your start-up cost, it will be most important to start with well-prepared business and marketing plans. These will insure the banks or investors of the potential long-term success of SunnyDaze Laundromat business. This will be a great time to think about naming your business. You may want a new name, or you may want to keep the established name of the existing Laundromat business.
Location, location, location! It is crucial to find an existing Laundromat business or to start a new Laundromat business in a demographic area that responds best to this public service. Locations that are in high-traffic areas afford visibility for the Laundromat service. How to start a Laundromat in the best location, of course, is to start the business in the most visible location, but also a community with the greatest need for Laundromat services.
The most efficient demographics for Laundromat businesses are businesses that are in high-traffic areas located near apartment complexes, college students, and low-income families. Many apartment complexes provide Laundromat services, however, for various reasons, the Laundromat services that are provided may not meet the needs of all of the tenants. As for college students that live on and off campus, they need available laundry services. Many Junior and Community Colleges do not provide dorm living and students attending these colleges may benefit from the use of public laundry services. Low-income families benefit from having Laundromat businesses in their areas because it is not always affordable to own, replace, or repair washers and dryers.
Name your business or keep the name of the pre-existing establishment that you are interested in purchasing. The new or old name of the business is called a fictitious business name. The fictitious business name must be registered with the City or County that keeps the vital records for the area where your Laundromat business will be in service. A fictitious business name will be needed before you can open up an official business banking account for your Laundromat business. Your business and marketing plans should reflect your fictitious business name.
Your local, state, and federal agencies are where you must start while learning what licenses you need to start a Laundromat Business. It will be pertinent to contact your city clerk’s office or your county courthouse for licenses that are needed for starting a Laundromat business. Your city or county may require special licenses or certifications for your particular area. A Federal ID Number for your Laundromat business must be issued by The State Board of Equalization. You will need to obtain a vendor’s license from the Franchise Tax Board.