Nice & Clean Laundromat | Application Preview
Nice & Clean Laundromat is applying for a $250,000 government grant to launch its laundromat business. The funding will cover capital expenditures, location build-out, marketing costs, and working capital. Specifically, $219,500 will be allocated for the design and construction of the laundromat, while $30,000 will support marketing and leasing expenses until the business reaches break-even.
The business plan outlines a robust growth projection over the next five years, focusing on maintaining equipment, building capital, and establishing a loyal customer base. Nice & Clean plans to offer a wash, dry, and fold service, catering to time-constrained customers and aiming to enhance cash flow and profit margins. There's also interest in expanding by acquiring additional laundromat locations.
The proposal highlights several reasons for funding approval. The laundromat will target a high-demand market in an underserved area, with positive local feedback indicating a strong desire for their services. The location is strategically placed in a busy area, enhancing visibility and customer traffic. Additionally, the business intends to adopt energy-efficient and eco-friendly practices, including modern machines that reduce resource consumption and a cashless payment system to streamline transactions.
In terms of competition, there are several laundromats nearby, including modern facilities like Laundré and Burbujas Wash and Fold. However, Nice & Clean intends to differentiate itself by prioritizing customer relations and service quality. They aim to improve the overall laundromat experience through rebranding, enhanced services, and innovative payment solutions. These strategies are expected to foster customer loyalty and attract new clientele, giving Nice & Clean Laundromat a competitive edge in the market.
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General Information
Business Registration Number: 1146643
Location: San Lorenzo, CA, United States
Length of Operation: 1-5
Number of Employees: 1-10 Employees
Annual Gross Income: Less than $100k
Annual Gross Expense: Less than $100k
Open to Loans: YES
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Funding Usage
Nice & Clean Laundromat is seeking a total funding of $250,000 of debt capital to open its laundromat. The capital will be used for funding capital expenditures and location build-out and marketing expenses and working capital. Specifically, these funds will be used as follows: ● Laundromat design/build: $219,500 ● Working capital: $30,000 to pay for marketing and lease costs until Nice & Clean Laundromat reaches break-even.
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Business Plan
We project that our business will grow rapidly in five years' time. Our goal in order to achieve success is to maintain current machines, continue building capital, and establish customer rapport. We plan to operate a wash, dry and fold service for our customers who do not have the time to get their laundry done. This service is expected to provide the highest level of convenience that could increase our cash flow and profit margin, which will be valuable and rewarding for our business. We are also interested in expanding our company by investing in one or two more laundromat businesses soon. We are confident that our laundromat business will be highly profitable and have the potential for growth. Nice & Clean Laundromat is uniquely qualified to succeed due to the following reasons: ● Nice & Clean Laundromat will fill a specific market niche in the growing community we are entering. In addition, we have surveyed the local population and received extremely positive feedback saying that they explicitly want to make use of our services. ● Our location is in a high-traffic area where customers are in need of laundry services. ● The local area is currently underserved and does not have sufficient, modern laundromat facilities. We are planning to make our facility a more energy-efficient and eco-friendly laundromat business. Our goal is to implement sustainable and effective machines and applications to make a beneficial and successful start-up. Our solution for reducing energy and managing utility costs is to invest in new high-quality washers and dryers. We plan to upgrade energy-efficient machines that will minimize water and energy consumption. Additionally, we are working on purchasing cashless software for our machines that will allow our customers to make digital payments and reduce the stress of exchanging dollar bills for coins. This payment system will help our earth by reducing the need for cash payment and will affect the production of currency. Our laundromat business can make a difference by taking a sustainable approach that will benefit the future of our community and the environment.
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Self Identified Competition
The following laundromats are located within a one-mile radius of Nice & Clean Laundromat, thus providing either direct or indirect competition for customers: Laundré is a modern eco-friendly laundromat business established by Ariana Roviello. The company has two locations in San Francisco (Mission and Divisadero). In addition to self-service washers and dryers, Laundré offers wash services, including wash, dry, and fold or wash, dry, and bag. Text-O-Mat Inc./Burbujas Wash and Fold is a laundromat business with three locations in the San Francisco area. Burbujas - 1 is located at 2899 24th Street (at Florida St.). The company's laundry facilities offer customers a comfortable, clean sitting area to wait for laundry to be ready. Bubbles & Beans Laundromat is a laundromat business with one location in San Francisco, California. This company has no website or social media presence. However, information from Google and Yelp reviews indicates that Bubbles & Beans Laundromat is a self-service laundry facility with no wash and fold services. This facility has change machines and offers customers free Wi-Fi while they wait for their laundry to be ready. Our major competitors in the laundromat industry are located within a one-mile radius of our facility. We researched a few of the laundromats in the neighborhood that have some things in common. The consumers in the area would have issues with quality of the washers and dryers, cleanliness of the laundromat, payment via change machines, or adequate service skills. What makes us unique from other laundromats is our ability to build customer relations in the neighborhood. We believe that providing high-quality service encourages customer loyalty and attracts new clientele. We are also planning to rebrand our laundromat to help us differentiate our business from other competitors. Some changes include making the laundromat eco-friendly, offering a wash-and-fold service, using cashless laundry systems, and installing vending machines. We believe that rebranding will make our business unique and help our business expand in becoming successful.
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Contact Applicant
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