Be On the Lookout for State Grants and Other Free Programs to Help Grow Your Laundry Business
Like Dire Straits sang on its classic hit, “Money for Nothing,” I always wondered if businesses really received grants. After all, I’d never known any business owner who said he or she ever applied – much less received – money from one.
Then, one day, I got an email from my local Chamber of Commerce telling all of us members about grants available through our state (just another reason I would strongly recommend joining your Chamber). I clicked on the link and was amazed by how many grants were available.
I’m located in New Jersey, so I can’t speak for the other 49 states, but a quick Google search of random states showed they all had offices designated to help small businesses.
I wound up applying for two grants for which I felt we would qualify. One was a small-business improvement grant, and the other was a small-business lease grant. The most important lesson I learned in applying for these grants is that you need patience – and that they will ask for a lot of paperwork.
In my state, they advise at the very beginning that the approval process will take approximately eight months. As with any government project, the process is slow. The good thing is that, as a business owner, you should already have all of the paperwork they require. In my case, I needed only two documents to be filled out and signed by an outside party – one for each specific grant.
Eight months after applying for the grants, we were approved for both. For the improvement grant, I received a check for 50 percent of the price I paid for a new water heating system. The second grant paid me a check equaling 20 percent of my rent for two years. What small business – laundromat or otherwise – couldn’t use what essentially is a 20 percent reduction in their rent for two years?
And the great thing about state grants is that the money has already been earmarked, so it has to be awarded.
Aside from grants, New Jersey also offers a free marketing program. It has created a list of marketing companies that have been approved by the state that will help business owners design their websites and marketing materials, and will work with entrepreneurs on improving their sites’ search engine optimization. These services are free to the business owner, with the marketing companies billing the state directly.
Another perk your state may offer business owners are low-cost lending programs. For example, New Jersey provides such programs as Main Street Micro Business Loans, Main Street Lenders Grants, and the Angel Match Program.
But don’t limit yourself to state grants, although it’s nice to get some of your tax money back. There are several organizations that offer grants for women- or minority-owned business.
For instance, WomensNet gives away $30,000 a month in its Amber grants to women entrepreneurs. Additionally, Nerdwallet has links to 34 different grant programs for women and minorities, while Bankrate has a list of 24 more. And a cursory Google search was all it took to find these 59 programs.
Clearly, there’s no shortage of places to look free money and other small-business help. Many large corporations, such as Wells Fargo and Verizon, also have programs. And, aside from your state, your town or county might have some, too. Of course, there also are federal programs.
No, you’re not going to qualify for all of these grants, but even if you get one or two, it could mean thousands of dollars for your laundromat business. It just takes a little time and effort.
So, are you going to be like Dire Straits and get your money for nothing?
