If you see one too many laundry businesses sprouting all over (franchised, privately owned, etc.), then this must be a very profitable business.
Even if there's one down the street from you - you have to create a strategy wherein customers will go to you, rather than the laundry shop down the street.
With your capital in place, first you have to find the right location. Location is very important. It determines your clientele. In a business district, your clients tend to be office workers, professionals, businessmen. Rent may be higher, but you will be able to offer dry cleaning, rush pressing, or executive laundry service. If your shop is closer to schools and colleges, your clientele will be students, teachers, and younger people. If you pick a random place just because the spot" is vacant and available to rent or lease, then you will need to see the type of "foot traffic" who would fill your shop.
Then you have to find a strategy that will set you above the rest of the competition. As in any business, this should be the most important thing you should be doing. This is the vision that you will have to start with. Promotion and marketing runs hand in hand with your strategy. Then after that, the rest is not as hard as one can imagine.
Yes, laundry shops are sprouting left and right - it's because this business is very profitable. Everyone wants clean clothes. And when it rains, who wants to wear wet, stinky clothes?