Washin Roulette

1
Washin Roulette
5000
2
Property

• 3941 N. Sheridan, right in the middle of bustling
  Wrigleyville.
• Under the Sheridan Red Line EL stop.
• 15 accessible parking spots in the rear.
• 1200 sq. ft.
• 25.00 per sq. ft./year 2500.00 per month.

3
Monetary Matters

• Loan amount 50,000
• Loan fee 165 charged by 5\3 bank.
• Interest rate 11
• Loan term 30 years
• This amounts to a monthly payment of 476.17 per
  month to pay off this loan.
• But now I have 50,000 to make more money.
• A License is required for coin operated washers
  and dryers due to the zoning, this fee is 125.00.

4
Utilities

• The average washer uses 2.2 kilowatts of
  electricity per load of laundry.
• Therefore, if I buy 20 washers and I expect about
  20 customers a day, that comes out to 600 loads a
  month that all equals 1320 kw/h and ComEd offers
  rates that would get the grand total to equal an
  estimate of 150 dollars per month for
  electricity.

5
and Water

• With my washers coming out to 31.2 gallons of
  water per cycle, and the city of Chicago offering
  their rates at 1.30 for payments before 21 days
  and charging a bill every 6 months it would
  amount to 146.06.

6
Machinery

• My two main providers of washers and dryer would
  be Huebsch and Dexter.
• Huebsch offers a rebate for anyone business that
  purchases a minimum of 20 washers get them at
  200 a piece.
• This comes out to be 7000 for 20 washers and 15
  dryers.

7
Other Supplies

• Detergents, fabric softeners, etc. would come out
  to a little over 200 a month depending on the
  amount of customers.
• Money changers and vending machines are necessary
  to ensure steady business.
• A CM 1050 Bill Changer is 359.00 plus a dual
  bevarage/snack machine which is 5195.00 equals
  too much, so I would have to drop the vending
  machine.
• I would also like to provide a sitting area for
  my customers and from a Sol-O-matic seating unit
  It would only cost me 400 for a full arrangement.

8
Advertising

• Noticing my sudden price constraints, I would
  only focus on Newspaper Ads.
• 3 lines in a Chicago Tribune Classified to
  announce the opening of a business is 142.80 for
  a Northside printing in the 7 day package.

9
Competition

• In order to get ahead I would have to check the
  surrounding area for any other Laundromats that
  would steal potential customers.
• I found one major franchise had a firm grip on
  the area, Coin Macke Laundry had 6 locations in a
  mile radius.

10
Gimmicks and Afterthoughts

• At first I was hoping to open a different type of
  Laundromat that would make a generous profit.
• I would have made it a WiFi spot, had a special
  EasyCard system that would allow customers to use
  it as a transfer card or pre-paid phone card.
• All of these were thrown out because of the debt
  that I created. I was even hoping to work off the
  name and allow customers to get one out of six
  loads free or something like that.

11
Washin Roulette

• Laundering never sounded so clean.