Steps to Vended
Laundry Ownership
While developing a vended laundry is an involved process, it follows a clear, stepped plan outlined below. Fortunately, you’re not alone. Moreover, your Continental Laundry Solutions distributor provides valuable advice and assists with site selection, equipment mix, laundry design, generating a cash flow summary and securing financing. In addition, they ensure you have expert guidance at every stage.
Step 1: Contact Your Continental Laundry Solutions Distributor
Whether you’re interested in developing a new vended laundry or purchasing and possibly renovating an existing store, the first step is to contact your Continental Laundry Solutions distributor. Not only do Continental distributors guide investors through the entire laundry ownership process, but they also provide expertise to differentiate your store from the competition and set it up for success. Furthermore, your distributor is a market expert who takes you through every phase of laundry development, handling much of the legwork and analyses for you. Ultimately, your distributor will paint a clear picture of your laundry’s estimated revenue and return on investment, so that you can make informed decisions with confidence.
Step 2: Site Selection & Estimating Sales Volume
Next, during step 2, your Continental distributor will assist you in finding potential locations, evaluating them, and applying value to traffic flow, visibility, competition and demographics. As a result, you’ll be empowered to make a smart, data-driven location decision. In addition, this stage lays the groundwork for future financial projections and operational planning.
Step 3: Equipment Mix, Utilities, Services, Customer Turnover & Design
Once a location is selected, your distributor will help you conceptualize your laundry in terms of its equipment, payment system, services, utilities, space and design. Your distributor will then provide a financial snapshot of that concept to you and the lender.
Step 4: Proforma Summary & Financing
Afterward, your distributor will compile all of the gathered data and generate a cash flow summary, known as a pro forma. This document overviews capital outlay, return on investment, service income, taxable income, losses, expenses and more. Moreover, the Proforma is submitted along with a detailed laundry plan, competitive analysis and equipment proposal to lenders. Consequently, this step streamlines financing approval and sets your project up for success.
Step 5: Laundry Buildout/Renovation
Once financing is approved, your Continental distributor will coordinate with an architect and general contractor to create plans, obtain permits and manage the buildout or renovation of your space. Simultaneously, they ensure that the construction aligns with your operational and design goals. As a result, your laundry will be ready for both functionality and customer appeal.
Step 6: Marketing
At this stage, marketing your laundry becomes a priority. Specifically, your Continental distributor can connect you with affordable marketing packages that include branding, logo development, signage, advertising and more. Importantly, this is a service exclusive to Continental distributors and their clients. Therefore, your laundry opens with a strong, recognizable presence in the community.
Step 7: Training
Once the laundry is complete, your Continental distributor provides comprehensive training on equipment operation and maintenance. Moreover, they offer tips and best practices to help you maximize efficiency and profitability. Ultimately, their goal is to ensure you succeed in operating a smooth, customer-friendly laundry.
Step 8: Ongoing Services
Finally, after helping make your laundry dream a reality, your Continental distributor remains engaged by providing ongoing advice, equipment maintenance, technical service and replacement parts. Furthermore, in a few years, when you are ready for a second laundry, your distributor will be your first call. In this way, they continue to be a trusted partner throughout your laundry ownership journey.
For more detailed information, download our Vended Laundry Guide and New Investor Brochure. Want to hear some more tips we have for investors? View our extensive video library on our YouTube page or view the videos below.
