Learn about the industry. You need information on costs, profitability, and trends.
Make a business plan. Include location analysis, customer research, financial projections, and marketing ideas. This will guide your decisions.
- Choose a legal structure. Common options are:
- Sole proprietorship
- Partnership
- LLC
- Corporation
Consider liability protection, taxes, and ease of setup.
- Secure funding. Estimate costs for:
- Equipment
- Supplies
- Renovations
- Inventory
- Licenses
- Marketing
- Operating expenses
Sources of funding include savings, loans, investors, and small business grants.
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Find a good location. Consider:
- Demographics
- Visibility
- Parking
- Competition
- Zoning laws
- Utilities
- Public transit access
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Buy equipment like:
- Washers
- Dryers
- Change machines
- Seats
- Wi-fi
- Security cameras
- Point-of-sale systems
Buy new or used.
- Get licenses and permits. Requirements vary by state, county, and city.
- Set prices and payment options. Consider costs, competition, customer demand, and profit goals.
- Market your business. Use:
- Word-of-mouth
- Social media
- Print ads
- Website
- Search Engine Optimization
- Grand opening events
- Promotions
- Partnerships
Offer amenities like entertainment, refreshments, laundry supplies, dry cleaning, and wash-and-fold service.