It should be noted that there is no special software required to use these templates. All business plans come in Microsoft Word and Microsoft Excel format. Each business plan features:. Coin Op Laundry Mat, Inc. The Company was founded in by John Doe.
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The commercial laundromat can consistently produce a steady cash flow in both good economic times and bad. With upfront payment for your services and virtually no inventory to monitor, a well-designed commercial laundry will practically run itself by attracting a faithful following of repeat customers. If you invest wisely in high-quality equipment and create a clean, inviting environment, you should turn a profit fairly quickly. Identify a location in a high-traffic, densely populated area. Although coin-operated laundries usually cater to low- to middle-income families, some higher income households might enjoy the convenience of a wash-and-fold service at their local laundry. Select a space that has good sidewalk access, sufficient parking and enough floor space to accommodate your equipment, folding tables and seating areas. The typical commercial laundry ranges in size from 1, to 5, square feet.
An LLC is a corporate structure and you will not be held personally liable for the company debts or liabilities because, similar to a corporation, owners have limited liability for the debts and actions of the LLC. LLCs were first created in Wyoming in and have become the preferred entities because LLCs are not bound by the same rigid rules of corporations and require no formalities such as corporate minutes to hold unless you filed an IRS form and you treat your LLC as a "C" corporation. Foreign persons will have to report individually the transactions. Form is an information return for tax purposes and after an LLC is liquidated, it must file a final Form as well as when adding members.
Editor's note: This article was originally published on February 1, , and has been updated. It was excerpted from our Coin-Operated Laundry start-up guide , available from Entrepreneur Bookstore. The coin-operated laundry industry has undergone a revolution. No longer dingy, unsafe, boring places that customers must endure on a weekly basis, laundromats are becoming fun and attractive multiservice centers that customers may even enjoy visiting.