In this article, I will be discussing how to start a laundry business. This is a smart business idea that you can easily set-up with little capital.
There is a high rate of unemployment in Nigeria. Similarly, most people are looking forward to set-up businesses that can give them multiple streams of income. Therefore the laundry business is one of those business ideas that you can include in your streams of income.
How to start a laundry business
What is laundry business all about
Laundry business activity is a process whereby one makes money by rendering laundry services to customers. Similarly, in a laundry business, professional care is given in washing, drying, and ironing of clothes.
How profitable is the laundry business
According to the Coin Laundry Association, the cash flow of laundromats ranges from $15,000 and $300,000 annually.
Considering the information above, it can be observed that the figure is for American citizens. However, these figures can give you an idea of what to expect if you start a laundry business in Nigeria.
For instance, picking the low figure of $15,000 which is ₦5,437,500 in dollar/naira exchange rate as of the time of writing this article. So you can make a good profit of ₦3,000,000 – ₦5,000,000 annually from running a laundry business in Nigeria.
Therefore to achieve this target or even higher target, you need to create a smart business plan and with hard work and prudent planning, you’re sure to find success doing laundry business in Nigeria.
Photo by Daria Sannikova from Pexels
Starting a laundry business in Nigeria
To start a laundry business you need a good location and you need to buy your laundry Kit/equipment
- Good location: Every business needs a location as long as it is for the purpose of production or rendering of services. Similarly, the laundry service which is solely for rendering services to targeted customers needs a good location.
- Laundry Kit/equipment: Also you will need to purchase your laundry kit/equipment. This together with hard work and prudent planning will guarantee your earnings of about ₦3,000,000 – ₦5,000,000 annually.
Having said all this below is a well-listed laundry kit/equipment needed to run a successful laundry business in Nigeria.
Note that everything listed is important for the laundry business.
- Washing machine/ Drycleaning machine
- Standby Generator
- Irons (Dry and steam iron)
- Pressing board
- Clothe racks
- Packaging waterproofs
- Washing supplies (Detergent, bleach, stain removers)
- You can include (tagging gun, hangars, buckets, brushes, etc..)
Related: How to Start and Finance Business Ideas
How to make a laundry business successful
Every business needs a good plan to succeed. customer will patronize you based on the quality of service you are rendering. Therefore to make your laundry business successful here are the things I think you should do.
- Get a good location
- Get a good experience in the business.
- Stand out from your competitors.
- Know your target market for the laundry business (your target could be: students, elderly people, working-class people or all of them).
- Promote your business.