This is the most complete guide to starting a Laundry business in Nigeria
How to start a Laundry business in Nigeria Overview
Nigeria has a high population of over 190 million people. It is the most populous country in Africa and the seventh-most populous country in the world.
With such a large population, there are plenty of opportunities for entrepreneurs to start their own profitable laundry businesses in Nigeria.
During the years, as a result of civilization, Nigerians have become more aware of the importance of clean clothes and public hygiene, which has led to an increase in demand for laundry, in many areas across the 36 states in the country.
If you have enough capital, all you need to do is find a location, buy some machines and get started.
You can also choose to rent out space from an existing business and offer them your services as well, this goes a long way in aiding easy market penetration since.
Laundry businesses are more profitable to start around places such as barbershops, gyms, residential areas, estates etc, where washing clothes are in high demand. most of the time, there are certain additional ways to earn money from the laundry business in Nigeria, for example: cleaning up equipment, work environment and houses etc.
Why you should start Laundry Business in Nigeria?
Before setting up a laundry business it is essential to know the ins and outs of it.
It is also not capital intensive and easier to start and run than any other business model in Nigeria. For most small entrepreneurs all they need is a pressing iron and soap, the rest equipment are things you use regularly at home. Can you see how easy this is? Notwithstanding if you want to start a laundry business with class then you’ll need a shop, but you can start small from your home as well.
I’m not sure what kind of laundry business you are intending to start, but if you are looking for an introduction to how to start a laundry business in Nigeria, then this post is for you.
To avoid any hiccups or business mishandling which later leads to run down or failure it is very essential to get information about the business you’re about to start. One of the best ways I know is talking with other similar individuals already doing the business. This is necessary so as to gain fundamental knowledge about this venture, you can also get a laundry business plan in Nigeria as I’ve said earlier.
Please note: This website blog is devoted to helping and developing entrepreneurs, for over 6 years we have provided follow-ups and business consultations as well as a business plans for small and large business. Don’t hesitate to reach out to us by WhatsApp or email so as to acquire your business plan and ask your questions.
How to Start a Laundry Business in Nigeria: The Do’s and Don’ts
- Don’t invest in a laundry business without researching on your target market.
- Don’t buy expensive equipment that you don’t need.
- Do work on a budget before investing in anything.
- Do consider what type of laundry service you want to provide and the location of your business.
How Much Money do You Need to Start a Laundry Business in Nigeria?
In Nigeria, laundry is a type of business that has been on the rise in recent years. This is because it has the potential to grow into a sustainable business with low start-up costs.
One of the most important things you need on how to start a laundry business in Nigeria is a good location. You need to find an area where there are many people with access to water and electricity.
The best place for this would be near residential areas or places with high traffic such as schools or hospitals.
You will also need capital for buying your equipment and supplies such as detergent, fabric softener, soap, bleach, and linens among others. You can raise these funds by getting loans from banks or using your savings if you have any.
How much you need to start a laundry business in Nigeria can range from 100k up to 500k. It all depends on the scale of the laundry business you want to start, in our business plan we’ve included the actual cost for all equipment and materials needed to start a laundry business in Nigeria on a medium scale which can be small or large. It’s now left for you to choose in reference to your capacity.
Materials needed to start a laundry business in Nigeria
In any business set up it’s necessary to know the materials and equipment needed for a successful business function, so what are the materials needed for a laundry business in Nigeria?
First of all, you need washing machines that run at high pressure. Most laundry small shops needs electric water heater which also needs replacing every year because of the intense daily usage, you also need a power grid to run most of the equipment since local electricity supplies are not reliable in most region in Nigeria.
There are also attractive items available online with decent quality to spice your output, A unique soap and washing perfume can go a long way in branding your laundry business among other competitors.
Soap-scented scented shampoo are one of the secrets of the laundry business and You can find these on any online store or big supermarket.
There are lots of laundries in Nigeria using all sorts of different products to give customers better value for their money, which in my opinion is very optimistic! Now that we’ve established our basic technical knowledge here’s the full list of all you’ll need on how to start a laundry business in Nigeria.
- Washing machine
- Electric Water heater
- Stove, cooking gas or electric cooker
- Pressing iron
- Raw starch or processed starch
- scented shampoo
- Cloth perfume
- Packaging bags
- Electric Dryer (some come with washing machine)
- Ironing tables
- Bowls and buckets
- Lines for drying clothes
- Power grid (generator)
- Plastic pegs.
- fabric softener
Laundry Business Plan in Nigeria: What You Should Know?
Business planning is a process that enables businesses to set goals, establish strategies, and allocate resources. This is very essential for any business’s success in the long term.
As I’ve previously said, here at NaijaCEO we provide business consultation, business plans for all Nigerian entrepreneurs all you have to do to gain access to our services is to purchase our business plan or have us write a business plan for you,
What is contained in our laundry business plan in Nigeria?
- Executive Summary
- Description of Problem and Solution
2.3 Value Proposition
2.4 Business Objectives
2.5 Critical Success Factor
2.6 Current Status of Business
2.7 Legal Requirement
2.8 Contribution to Local and National Economy
2.9 Contribution to SDG
- SWOT Analysis
- Market Analysis
- Competitive Analysis & Risk Analysis
- Marketing Plan
6.1 Description of Product (S) or Service (S)
6.2 Potential challenges in the business industry
6.3 The Opportunity
6.4 Target Market
6.5 Marketing and Sale Strategy
- Production Plan/Operational Plan
7.1 Description of the Location/Factory
7.2 Raw Materials/consumables
7.3 Production Equipment/Capital Expenses
7.4 Equipment/Depreciation Table
7.5 Pricing strategy
7.6 Record/Stock Control Process
7.7 Pre-operating Activities and Expenses
8.0 Organization Structure and Responsibilities
8.1 Salary Schedule
9.0 Financial Plan
9.1 Start-Up Capital Estimation (Expansion Capital Estimation)
9.2 Loan Details
9.3 Business Risk and Mitigating Factor
9.4 Financial Projections
9.5 Sales Forecast And Sales Assumption
9.6 Income Statement (P&L) Account
If you are to prepare a laundry business plan in Nigeria then it should contain all listed above or you can have us prepare it for you.
What are the Key Factors That Affect the Success or Failure of A Laundry Business in Nigeria?
The success of a Laundry Business in Nigeria greatly depends on either internal or external factors.
Internal factors are things like the management, location and type of laundry that you offer, while external ones are things like competition and government policies.
How to Start a Laundry Business in Nigeria with Minimum Capital?
In conclusion starting a laundry business in Nigeria is the most easiest venture for as any experienced and amateurs who just begin their entrepreneurship journey. In this post, I give you all information on running your own small commercial laundry and it would be worthwhile to read through them if interested in venturing into this particular industry here in Nigeria or around Africa, there are many businesses started by young entrepreneurs looking at opportunities in Nigerian economic, this could be your own opportunity to own your own laundry business of your dreams.
We hope that this article helps you to achieve your goal on how to start a laundry business in Nigeria