Do you want a simple business that has a growing demand and high profit potential? A laundry shop may be your dream business. Reliable “labanderas” are getting harder to find and busy people often have no more time to do their own laundry.
Below is short list of the steps you need to take to launch your venture:
- 1. Consider your financial resources. You will need a minimum of around Php 200,000 to fund your own laundry. You may opt to get a franchise to lessen the risk but this will mean less control over your business and additional overhead in the form of royalties and other expenses. Still a franchise is a good option because of marketing and operational advantages among others.
- 2. Determine your target market and find the ideal location. We suggest those near condos and dorms where there is a large demand for laundry services.
- 3. Check if the water supply is adequate and fit to use. There are places where the water is insufficient or has too many minerals for laundry use.
- 4. Register your business name once you already have a location. If it is a sole proprietor, go to DTI and if it is a corporation or partnership, you must register with the SEC. Then get a barangay clearance before proceeding to city hall and finally to the BIR.
- 5. Acquire and install equipments. For a start up it is recommended that get brand new equipments. Second hand machines may break down often and cause more expenses, especially if you factor in lost sales.
- 6. Hire and train new employees. Check their back ground carefully and have them submit a current NBI clearance. Make sure they are well trained not only on how to operate the machines and clean laundry but also on basic customer service.
- 7. A return on investment of one year or even less is very possible if you have a good location and you know how to run your laundry well.
Where do you learn to run a laundry profitably? BusinessCoach Inc., a leading business seminar provider, offers a highly practical seminar on how to start and operate a laundry. Learn the trade secrets from the experience of an actual laundry owner before risking your hard earned capital.
Click here to view details of the training program: How to Start a Laundry Shop Business
Business Coach Column by Ruben Anlacan, Jr. (President, BusinessCoach, Inc.) from the Manila Bulletin. Re-posted with permission. Photo from greensblog.org