A Hiccup in the Plans to Open
On the brink of opening, it turned out that more financing would be needed. The project was over budget for all the amenities and machines that needed to be installed. There was a need to find a solution fast. While the operation started, things were extremely tight and the place wasn’t as full-featured as the owner hoped.
That’s why about 6 months or so after opening, the owner decided to see whether financing was available. It was that or live with the fact that the laundromat would never reach the level of excitement it had in this original vision.
How Much Money Was Needed?
After doing the math and taking a look at what would be needed to spruce the place up further, the owner came up with a figure of about $150,000. While business was going well due to everyone being interested in a new laundromat, the owner knew things could only get better. However, that would take the right kind of financing.
Having this amount could allow for extra updates and repairs while having extra to keep things going well as long as the financing was needed. It would give the owner a chance to see his dream come into reality and see how business could be in a best-case scenario.