Yes and no.
When I prepare it, because it all goes into a large stash, I don't. But because I've stored it all for a while when I go to use it, I bring it home and wash it. I also like my fabric to look shiny and new, so I tend to iron it with sizing when I cut the pieces out.
As to washing, I was it the same way I plan on washing it when it's done.
Delicate fabrics get liquid detergent, everything else gets powder. I may wash things by hand later, but usually I put them in a delicate cycle in mesh bag before it's made into anything. I dry normal, be it line dry or high....and while I have a very nice dryer with plenty of settings, it never seems to get off hot. Silk and wools are always line dried, everything else, shrink or not, goes to the dryer.
Cold wash/hot or line dry. Prepare fabric for use, hang and place in garment bag on rack, swatch card in window.
Now...if it's poly or something that won't shrink and doesn't have any spots or anything, I wash it when I am done making the garment. Then I take it back to the studio, iron it with starch or sizing and put it in a garment bag for a month or so. I buy them on sale or when I need to pad a wholesale order, so I have about 15 of them left right now (I also weirdly, have people wanting to buy them...so I resell a lot of them).