Young Entrepreneur Launches Laundromat After Leaving College

Brandon Hollingsworth, a 25-year-old from Queens, has taken an unconventional path by leaving college to pursue entrepreneurship. After dropping out during his sophomore year, he opened his own laundromat, Don’s Laundry, on December 31, 2023. His parents, rather than expressing disappointment, were supportive, impressed by his business acumen and detailed planning.

Brandon’s mother, Nicole Hollingsworth, highlighted his preparedness, stating, “He had a documented business plan, he knew exactly the steps he needed to take and he was prepared. I could not be upset with that.” This foundation allowed him to take significant steps towards his entrepreneurial dream, including selling his sneaker collection to finance legal fees for establishing the business.

Building on Family Experience

Growing up as the oldest of five siblings, Brandon observed his parents manage their own laundromats. This exposure provided him with invaluable insights into the industry. “All the mistakes that were made, I was watching firsthand,” he noted. This early education helped him avoid common pitfalls and equipped him with the necessary skills to manage both customers and finances effectively.

Brandon’s journey emphasizes the importance of preparation and sacrifice. By developing a robust business plan and understanding the operational aspects of running a laundromat, he was able to launch with clarity and purpose. His commitment to customer service is evident, as he aims to create a welcoming environment where clients leave with a smile.

Challenges and Opportunities for Young Entrepreneurs

Brandon represents a growing segment of young entrepreneurs. While the average small business owner in the United States begins their venture at age 35, Brandon’s initiative at 25 sets him apart. According to data from Forbes, over 33 million small business owners operate in the U.S., with small businesses constituting 99.9% of all companies, as defined by the Small Business Administration.

The financial landscape for small business owners varies significantly. While the average annual earnings are around $70,781, this can range from $31,000 to $150,000, depending on various factors. Brandon’s story serves as a reminder that entrepreneurship is not solely reserved for those with decades of experience; with the right strategy and determination, young individuals can successfully navigate this path.

As Brandon continues to establish his laundromat, he shares his experiences on social media, aiming to inspire others. “I feel like I am setting a standard for my siblings, especially, and other people that look like me,” he expressed. His message resonates with aspiring entrepreneurs who may feel deterred by their age or lack of experience.

For those considering a similar venture, Brandon’s approach highlights essential steps to take when starting a small business.

1. **Research and Write a Business Plan**: Understanding the market and drafting a comprehensive business plan are critical. This plan should outline the business idea, competitive analysis, startup costs, revenue projections, and strategies for marketing and customer service.

2. **Determine Funding**: Many entrepreneurs bootstrap their ventures, meaning they rely on personal savings or support from family and friends. Other options include small business loans and grants, particularly for minority or women-owned businesses.

3. **Address Legal Requirements**: Setting up a business requires compliance with local regulations. This includes registering the business, choosing an appropriate structure (such as LLC or sole proprietorship), and obtaining necessary licenses. Consulting a lawyer can help ensure compliance.

4. **Budget Planning**: Understanding operational costs is vital for any startup. Entrepreneurs should save enough to cover expenses for at least three to six months as they establish their business.

5. **Prepare for Hard Work**: Many small business owners work long hours, particularly in the initial years. According to Forbes, approximately 58% of them work at least 50 hours a week.

6. **Build Community Relationships**: Establishing strong customer relationships is crucial. Consistently delivering excellent service and engaging with the community through social media can enhance visibility and customer loyalty.

Brandon Hollingsworth’s journey exemplifies that with a well-thought-out plan and determination, young entrepreneurs can turn their aspirations into thriving businesses. His story encourages those contemplating entrepreneurship to take the leap, reinforcing that success is achievable regardless of age.