Actually five forms of gods and goddesses are worshiped in Laxmi Puja. Lord Ganesh is worshipped in the beginning puja. Since, Lord Ganesh is “bighnaharta”, it is believed he takes away all the mishaps that could probably happen. Then three forms goddess laxmi’s, Mahalaxmi (goddess of wealth), Mahasaraswoti (goddess of knowledge) and Mahakali (goddess of power) is worshipped. Then lord Kuber (treasurer of all gods) is worshipped.   

First establish the kalash (कलश). Kalash is any vessel (usually the vessel is made out of copper, but some rich people put gold or silver vessel too) filled with water and mango leaves (आँपको पात), peeple leaves (पीपल को पात), panchayakabya (पञ्चकव्य), few flowers on top and few coins dipped into the water.

 

Sprinkle some sandal wood powder, flower and a tulsi leaf (holy basil leaf) in the kalash. Place whole coconut on the mouth of kalsh, And recite this mantra.

कलस्या मुखाये विष्णु: कण्ठाये रुद्र:समासृताहमुलये तत्र स्थिथो  ब्रह्मा मद्धेय मात्रगण:स्मृता: !

(Meaning:  We worship the kalash inviting Vishnu to sit on the mouth of kalash. We invite Lord Rudra in the neck of kalash, and Brahma on the base. We invite Universal Mother Goddess and Her retinue in the middle. Thus we invite the trimurti along with goddess durga. We pray to all of them!)

Now get one more Kalash or any pot and place a plate on the top.  Put some rice grains on the plate. Take some turmeric powder and draw picture of lotus on top of rice grains. An idol or picture of goddess Laxmi is placed on the rice grain. Place a big diyo filled with ghee and white cotton cloth made in the shape of batti on the rice grain. Diyo represents The Sun and goddess laxmi and diyo represents Mahalaxmi as a whole. 

Take one red cloth and spread some rice grain on it and on top of rice grains place 8 diyos filled with ghee and white cotton cloth made in the shape of batti. Place the kalash near/before the red cloth. The diyos are placed around the kalash in half circle (batti facing us). 

Now place an idol of lord Ganesh on right side of kalash. Worship lord Ganesh by lighting the diyo and doing puja offering abir, kesari, flowers and naibadya.

Now we perform shodasmatrika puja (सोडस्मातृका पुजा). Sodasmatrikaa puja is worshipping 16 forms of goddess laxmi. To perform sodasmatrika puja make small heaps of rice and a nutmeg on top 

Pray to 16 forms of goddess laxmi with a little bit of rice grain, flower and fragrance (attar) reciting following names. 

कपुज यह उर्ड्ड होउ पुज्यस्च सोडासह

1. गौरी (Gauri)

2. पद्मा (Padhma)

3. सकिमेध: (sachimedha)

4. सावित्री (Sabitri)

5. विजया (Bijaya)

6. जया (Jaya)

7. देवसेण:  (Devsena)

8. स्वाह: (Sabadha)

9. सवहा:(Sabaha)

10. मतारो:(Mataro)

11. लोकमातारह: (Lokamatarah)

12. हृस्टिह: (harasatiha)

13. पुस्टिस्तठतुस्ती (Pustistathastuti)

14. अत्मानह्कुलदेवता: Aatmanaha)

15. गणेसी (Ganeshe)

16. नधी (nadhi)

कापुजायाह: उरदा होउ पुजयास्चा सोडसह: 

ॐ श्री लक्ष्मी देव्याय नम:

ॐ स्रीम ह्रीम स्रीम कमले कमलाल प्रसीद प्रसीद  स्रीम ह्रीम स्रीम ॐ महालक्ष्मी नम:  

(Meaning of this mantra is; “salutations to that feminine energy which bestows all manner of wealth, and for which Shreem is the seed.”)

Take unbroken flower or not broken rice grain in your hands and chant or meditate this mantra 

या सा पद्मा सणस्था विपुला कटी तटी पद्मा पत्रायट अकसी गम भिरा वर्तणा बिष्टणा भरणा मिटा सुभ्रा वास्त्रोतरिय

या लक्ष्मिर दिव्या रुपा इर्माणी गणा ख किटैह स्ण पिताहेमा कुम्भ यैह स नित्यम पद्मा हस्त ममा वसतु गृहे सर्व मंगल्यायुक्त स्वाहा 

Drop the flower or rice in the feet of goddess Laxmi .

(Meaning: “Laksmi who is seated on a lotus, has eyes as wide as lotus petals, massive hips, deep navel, and heavy breasts, wears white upper and lower garments, wears jewelry, immersed from a golden pitcher, carries a lotus in her hand, and is associated with every auspicious sign, please live in my house”.)

You welcome goddess Laxmi as you invite every other guest in your house. Then recite the mantras 

ॐ सर्व लोकस्य जन निम सुला हस्तम त्रीलो च नामसर्वदे वमा यिमी सम देवी मवा हय म्य अहम देवीम अवहायमी स्वहाँ

Meaning: (I invite mother of three worlds, the three eyed one in her hand, in whom all gods reside.)

Now doing the Laxmi panchamrit snan (पंचामृत स्नान):

In a plate or a bowl place the idol of goddess Laxmi and wash the idol with water, yogurt, ghee, sugar, honey respectively. Again wash the idol with water containing a gold ornament or pearl. Wipe the idol and place it on the plate on top of kalash. 

Offer seat to the idol reciting the mantra (ॐ इदम आसानम श्री लक्ष्मी माता समर्पयामी स्वह्:).

Touch the feet of the idol and recite :( ॐ पादयोहा पाद्याम श्री लक्ष्मी माता समर्पयामी स्वाह्:)   

Offer some water to drink by reciting: (ॐ हस्तयोर्अर्घायाम C

Purify the area around the idol with water by reciting: (ॐ मुखे आच्मन्-यम श्री लक्ष्मी माता समर्पयामी स्वह्:)

Offer a cloth (usually silk cloth): (ॐ वस्त्रम श्री लक्ष्मी माता समर्पयामी स्वह्:)

Now offer kaacho dhago or janai: (ॐ यज्नो-पवित्रम श्री लक्ष्मी माता समर्पयामी स्वाह) 

Offering attar (scent): (ॐ गन्धम श्री लक्ष्मी मस्तस समर्पयामी स्वाह:)

Chandan : ॐ चन्दनम प्रती गृहताम श्री लक्ष्मी मस्तस समर्पयामी स्वाह:

Sindur: ॐ सिन्दूरम श्री लक्ष्मी माता समर्पयामी स्वाह

Turmuric: ॐ हल्दीयम श्री लक्ष्मी माता समर्पयामी स्वाह:

Incense Stick (to do aarathy): ॐ धूपमाघ्रापयामी श्री लक्ष्मी माता समर्पयामी स्वाह:

Akshata (rice grain) – ॐ अक्षतय श्री लक्ष्मी माता समर्पयामी स्वाह:

Now recite 108 names of goddess laxmi. But first recite maha laxmi strotram.

“नमस्तेस्तु महामाए श्रीपीते सुरपुजिते

शङ्ख: चक्र गधा हस्ते महालक्ष्मी नमोस्तुते“