Columbia Cleaners is going to provide the following services for customers with free home pick-up and delivery in the Hillsboro area:
Operations plan
There are two ways for customers to take part in the service. Customers can sign contracts with Columbia Cleaners to get regularly scheduled service, or, if it is more convenient, they can order over the telephone or via e-mail.
Customers can choose payment either at the time of each delivery, or by monthly credit card billing. We will send statements to each contract customer, itemizing service fees and the charge for the service to their credit cards for payment, at the end of each month.
No retail shop will be rented in order to reduce the operation cost. An operations facility for installing machines and equipment, washing and cleaning activities, and storing not yet cleaned and cleaned garments and items is needed. The operations facility will require about 2,000 square feet divided into four main sections as following:
The whole operation process will be controlled and monitored by a laundry expert employee, and generally managed by the business owner.
It is necessary to establish the reasons for choosing the dry cleaning, laundry, and alteration service before doing the market research and marketing plan. “Laundries and Dry Cleaners rated in the top ten enterprises with the lowest failure rate.” http://www.mindspring.com/~jimgirone/cleanpage/desire.html
We will be targeting both full-time and part-time employed customers who would value the convenience of our service. Demographic research shows that the total population of the Hillsboro-Beaverton area is about 350,000, of which about 250,000 are in the labor force. Of the later, approx. 220,000 are employed full time, 20,000 are employed part time and the rest are unemployed, as summarized in the table below.
Market Analysis | |||||||
Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | |||
Potential Customers | Growth | CAGR | |||||
Full-time employees | 2% | 220,000 | 224,400 | 228,888 | 233,466 | 238,135 | 2.00% |
Part-time employees | 2% | 20,000 | 20,400 | 20,808 | 21,224 | 21,649 | 2.00% |
Other | 0% | 10,000 | 10,000 | 10,000 | 10,000 | 10,000 | 0.00% |
Total | 1.92% | 250,000 | 254,800 | 259,696 | 264,690 | 269,784 | 1.92% |
The table in the previous topic shows estimated percentages of Hillsboro-Beaverton residents working full time in 2004, which is a lot higher than that of those working part-time. Employment, income, and GDP trends show an increase over the past several years as well. This results in increasing standard of living, which in turn leaves people having less time to do their housework (including laundry) in Hillsboro. They are often tired after the whole day of working and tend to spend money to hire someone else to do the housework for them. Moreover, the demand on clothes of these working people (particularly professionals) usually increases proportionately with their income. Buying more clothes, especially expensive clothes, makes them pay more attention to the care and cleaning of those garments. With careful research, this business focuses on working and professional class customers as a target segment market.
Research shows that one of the key factors in choosing a personal service, such as laundry and dry cleaning, is not price but the convenience of the service. As stated above, with the growth of discretionary income people tend to choose services based on how much time and effort the service will save them. Although there are several conventional drop-off dry cleaning/laundry service providers in the area, Columbia Cleaners will primarily market its convenient pickup/delivery service to those busy individuals who are willing to appreciate such service, as it saves them time for other endeavors.
The personal service industry is very fragmented overall. The Metropolitan Portland area is no exception to that, with numerous small providers servicing the community’s needs for laundry and dry cleaning. In the city of Hillsboro there are about half-dozen dry cleaners, some of which also provide laundry and garment alteration services. However, almost none of them, except Convenient Door-to-Door Dry Cleaning, provide the convenience of the door-to-door service.
Competition in the dry cleaning/laundry business in the Hillsboro area is not fierce. Research shows that there are seven dry cleaners in the city of Hillsboro, almost all of them offering the traditional drop-off service. The only competitor offering the convenience of the door-to-door service is Convenient Door-to-Door Dry Cleaning that provides dry cleaning and shoe repair services. We believe that initially this will be our major local competitor. We also believe that we will be able to win customers from our regular, drop-off competitors by enhancing the clients’ peace of mind though a new level of convenience and saving their time.
The following areas will be monitored to evaluate the business performance:
The business success will depend on quality and convenience of the service, customer opinions, and competitor response.
The business provides a new door-to-door dry cleaning, laundry, and alteration service in Hillsboro that will surely attract customer attention. Working customers may find this service is convenient for them and want to try it. If they are satisfied with the service quality they will likely become repeat customers. When the patronage happens continuously, they become loyal customers of the service. These customers will recommend Columbia Cleaners to their friends and coworkers. As more and more customers use this service, Columbia Cleaners’ image is enhanced and we will gain more and more market share.
If we attain monthly and annual sales at least as forecasted, total costs and expenses, including any unanticipated charges, will not exceed our estimates and therefore the monthly and annual profit will be satisfactorily achieved.
Difficulties and Risks
Columbia Cleaners is a start-up and as such has less experience and begins with no market share at all. Assertive, effective initial marketing efforts will be necessary to gain a customer base. If existing competitors see us as a major threat and they resort to overtly aggressive and debilitating actions it will be very difficult for us to become an established player in the marketplace. Risks caused by competitors are possible, therefore the business has to monitor and evaluate its performance frequently, and collect customer evaluations and suggestions in order to continually improve.
Worst Case Risks
The worst case scenario would be that the business cannot support itself on an ongoing basis. The costs of doing business may be under-estimated, or sales and profit may be less than expected, making the business difficult in finance. Moreover, in case of social economic recession, political changes, or inflation, the business may perform even worse than has been forecasted.
As the U.S. economy recovers and quality of life is increases, people tend to spend more time and money in leisure activities rather than doing their house work. They prefer that someone else does the cleaning work for them. Hillsboro has a population of 70,000 served by seven dry cleaning and laundry shops. These existing shops wait for customers to bring their garments in and pick them up later. Customers have to drive cars to town, find parking places, carry their clothes or large items, such as curtains, blankets, etc. to the shop, and wait to be served. Then they must repeat this boring process when they come to collect their items. Moreover, these shops are only open from 9am – 6pm, and close on Sunday, which are almost the same working hours of offices; most inconvenient for customers especially those with full-time jobs.
By understanding and addressing this need, our new dry cleaning, laundry and alteration service will be established, providing door to door service free of delivery charge. We make our customers’ lives simpler by saving them time, and eliminating waiting in queues, parking problems, forgetting to collect clothes, missing meals, and going home late.
The following is the SWOT analysis for Columbia Cleaners:
Weaknesses:
Opportunities:
Place: Dealing directly with customers, conveniently in the customers’ houses in Hillsboro. We are choosing to not rent a shop in the town center, thereby reducing costs. Columbia Cleaners will receive clothes from and return them to customers’ houses. Requests for urgent situation pickups and deliveries will be accommodated, and a nominal fee charged.
Product: Free home pickup and delivery service, coming to customers’ houses between 6 pm – 9 pm three times per week. We provide convenience and high quality dry cleaning, laundry, and alteration services.
Price: Normally, new businesses set their initial prices lower than their competitors. In our situation however, the business has higher costs for our delivery service and promotions to increase customers’ awareness and establish our brand name. We will set our prices to match those of our competitors. The pricing scheme is based on a per service price. Moreover, the business targets working and professional customers who often pay less attention to price than the quality and convenience of service. Kelvin Clancy (in Kotler, 2003) shows that only between 15 and 35 percent of buyers are price sensitive. People with higher incomes are willing to pay more for features, customer service, quality, and convenience.
We will start off my matching our main competitor’s prices and we will be closely monitoring our financials to make sure that we develop a sustainable business without heavily discounting our services to win customers. All sales inquiries will be initially handled by the business owner. We will also train all our employees, especially those facing the customers, in customer service to make sure that our customers are fully satisfied, as such customers will not only stay longer with us but will also refer other customers to us. We will offer limited discounts to our customers with large recurring orders and also provide incentives for new customer referrals.
The sales forecast gradually increases over the year 2005 and comprises total sales of $324,700. However, in the last three months, October, November and December the sales remain almost level due to possible seasonal factors. Yearly forecasts are summarized in the table below.
Sales Forecast | |||
Year 1 | Year 2 | Year 3 | |
Sales | |||
Dry Cleaning | $116,892 | $151,960 | $197,548 |
Laundry | $185,079 | $240,603 | $312,784 |
Alteration Services | $22,729 | $29,547 | $38,412 |
Other | $0 | $0 | $0 |
Total Sales | $324,700 | $422,110 | $548,744 |
Direct Cost of Sales | Year 1 | Year 2 | Year 3 |
Dry Cleaning | $14,027 | $18,235 | $23,706 |
Laundry | $14,806 | $19,248 | $25,023 |
Alteration Services | $6,819 | $8,864 | $11,524 |
Other | $0 | $0 | $0 |
Subtotal Direct Cost of Sales | $35,652 | $46,348 | $60,252 |
The owner of the business will be director and accountant, working full time. A laundry expert will be employed and will be in charge of the operation and the quality of garment cleaning. Workers will report the laundry expert who reports to the owner.
Through consultations with a dry cleaning consultant, the term of reference of a laundry expert and workers are prepared. Employment information will be advertised in local newspapers. The laundry expert and two part-time workers who have experience in laundry work will be employed.
The laundry expert will be in charge of the operation and the quality of garment cleaning. Workers will be responsible for cleaning and classifying work and have duty to report daily work to the laundry expert. The expert has to report their working results and problems to the director.
Two part-time drivers for picking up and delivering clothes work from 5:30 pm – 9:30 pm three times a week.
The staff should be able to carry out working conditions and requirements:
Number of staff and salary in the period of January to March 2005:
Owner | Full-time | 1 | 23 | 40 |
Laundry expert | Full-time | 1 | 12 | 40 |
Workers | Part-time | 2 | 9 | 48 |
Drivers | Part-time | 2 | 7 | 24 |
Total | 6 | 51 | 152 |
From April 2005, the business has more customers and becomes busier, thus new staff (a worker and a driver) are employed. The business prefers to hire extra part-time workers and drivers sharing the total needed working hours. In case one of them becomes sick or busy, other staff can replace him therefore the working process will not be effected.
An average 5% increase in all salaries is planned for the following two years of operations.
Personnel Plan | |||
Year 1 | Year 2 | Year 3 | |
Director/Accountant | $48,000 | $50,400 | $52,920 |
Laundry expert | $24,960 | $26,208 | $27,518 |
Worker-1 | $11,232 | $11,794 | $12,383 |
Worker-2 | $11,232 | $11,794 | $12,383 |
Worker-3 | $8,424 | $8,845 | $9,287 |
Driver-1 | $4,368 | $4,586 | $4,816 |
Driver-2 | $4,368 | $4,586 | $4,816 |
Driver-3 | $3,276 | $3,440 | $3,612 |
Other | $0 | $0 | $0 |
Total People | 8 | 8 | 8 |
Total Payroll | $115,860 | $121,653 | $127,736 |
The following topics, the cash flow statement, profit and loss account, and balance sheet have been built using forecasted information which is as accurate and realistic as possible. Sales increase gradually over the 12 months showing the positive trend of sales. Columbia Cleaners is steadily gaining market share. Gross profit and net profit rise proportionately to sales revenue. The financial statements show that the business runs quite well and achieves expected results.
Startup expenses will be funded through a combination of owner’s equity capital and a commercial loan, as summarized in the table below.
The owner will invest $40,000 in the business. Additional capital for the business in the amount of $20,000 will be borrowed from a bank.
The lending plan has to be completed and submitted to the bank 6 months before starting the business. The loan will be needed two months in advance. Annual interest of 10% has to be paid on the long-term loans secured with fixed assets.
Start-up Funding | |
Start-up Expenses to Fund | $23,000 |
Start-up Assets to Fund | $27,000 |
Total Funding Required | $50,000 |
Assets | |
Non-cash Assets from Start-up | $17,000 |
Cash Requirements from Start-up | $10,000 |
Additional Cash Raised | $10,000 |
Cash Balance on Starting Date | $20,000 |
Total Assets | $37,000 |
Liabilities and Capital | |
Liabilities | |
Current Borrowing | $0 |
Long-term Liabilities | $20,000 |
Accounts Payable (Outstanding Bills) | $0 |
Other Current Liabilities (interest-free) | $0 |
Total Liabilities | $20,000 |
Capital | |
Planned Investment | |
J.C. Copperbeech | $40,000 |
Other investors | $0 |
Additional Investment Requirement | $0 |
Total Planned Investment | $40,000 |
Loss at Start-up (Start-up Expenses) | ($23,000) |
Total Capital | $17,000 |
Total Capital and Liabilities | $37,000 |
Total Funding | $60,000 |
The monthly break-even point of the business is calculated below. As revenue becomes higher than break-even point, the business starts to harvest the profit. As forecasted, the total demand on dry cleaning and laundry service continues to rise in the following years; therefore, if the service satisfies its customers, increases new customers and retains customer loyalty, the profit will continue to go up.
Break-even Analysis | |
Monthly Revenue Break-even | $19,205 |
Assumptions: | |
Average Percent Variable Cost | 11% |
Estimated Monthly Fixed Cost | $17,097 |
Pro Forma Cash Flow | |||
Year 1 | Year 2 | Year 3 | |
Cash Received | |||
Cash from Operations | |||
Cash Sales | $324,700 | $422,110 | $548,744 |
Subtotal Cash from Operations | $324,700 | $422,110 | $548,744 |
Additional Cash Received | |||
Sales Tax, VAT, HST/GST Received | $0 | $0 | $0 |
New Current Borrowing | $0 | $0 | $0 |
New Other Liabilities (interest-free) | $0 | $0 | $0 |
New Long-term Liabilities | $0 | $0 | $0 |
Sales of Other Current Assets | $0 | $0 | $0 |
Sales of Long-term Assets | $0 | $0 | $0 |
New Investment Received | $0 | $0 | $0 |
Subtotal Cash Received | $324,700 | $422,110 | $548,744 |
Expenditures | Year 1 | Year 2 | Year 3 |
Expenditures from Operations | |||
Cash Spending | $115,860 | $121,653 | $127,736 |
Bill Payments | $133,714 | $191,828 | $245,003 |
Subtotal Spent on Operations | $249,574 | $313,481 | $372,739 |
Additional Cash Spent | |||
Sales Tax, VAT, HST/GST Paid Out | $0 | $0 | $0 |
Principal Repayment of Current Borrowing | $0 | $0 | $0 |
Other Liabilities Principal Repayment | $0 | $0 | $0 |
Long-term Liabilities Principal Repayment | $334 | $0 | $0 |
Purchase Other Current Assets | $0 | $0 | $0 |
Purchase Long-term Assets | $10,000 | $0 | $0 |
Dividends | $0 | $0 | $0 |
Subtotal Cash Spent | $259,908 | $313,481 | $372,739 |
Net Cash Flow | $64,792 | $108,629 | $176,005 |
Cash Balance | $84,792 | $193,421 | $369,426 |
The table below outlines our projected profit and loss statements for the first three years of operation. In general, the business might meet some difficulties in the beginning months but after that the business grows as expected and produces a small profit at the end of the year. It is not necessary for the business to gain high profit in the first year. Nevertheless, we are expecting to make a small profit the first year. Our second and third year net profits are expected to grow quite a bit, as shown below.
Pro Forma Profit and Loss | |||
Year 1 | Year 2 | Year 3 | |
Sales | $324,700 | $422,110 | $548,744 |
Direct Cost of Sales | $35,652 | $46,348 | $60,252 |
Other Costs of Sales | $0 | $0 | $0 |
Total Cost of Sales | $35,652 | $46,348 | $60,252 |
Gross Margin | $289,048 | $375,762 | $488,492 |
Gross Margin % | 89.02% | 89.02% | 89.02% |
Expenses | |||
Payroll | $115,860 | $121,653 | $127,736 |
Marketing/Promotion | $2,250 | $2,700 | $3,000 |
Depreciation | $4,500 | $4,000 | $5,000 |
Rent | $14,400 | $15,000 | $16,000 |
Utilities | $11,100 | $12,000 | $13,000 |
Telecommunications | $4,800 | $5,000 | $5,500 |
Insurance | $10,200 | $11,000 | $12,000 |
Payroll Taxes | $0 | $0 | $0 |
Maintenance | $1,200 | $1,500 | $2,000 |
Gas | $5,250 | $6,500 | $7,500 |
Equipment lease | $20,000 | $20,000 | $20,000 |
Office cleaning | $3,600 | $4,000 | $5,000 |
Other | $12,000 | $20,000 | $30,000 |
Total Operating Expenses | $205,160 | $223,353 | $246,736 |
Profit Before Interest and Taxes | $83,888 | $152,409 | $241,756 |
EBITDA | $88,388 | $156,409 | $246,756 |
Interest Expense | $1,967 | $1,967 | $1,967 |
Taxes Incurred | $24,576 | $45,133 | $71,937 |
Net Profit | $57,345 | $105,310 | $167,853 |
Net Profit/Sales | 17.66% | 24.95% | 30.59% |
The table below shows the balance sheet annual figures for the first three years of operation. First year monthly figures are presented in the appendix.
Pro Forma Balance Sheet | |||
Year 1 | Year 2 | Year 3 | |
Assets | |||
Current Assets | |||
Cash | $84,792 | $193,421 | $369,426 |
Inventory | $4,008 | $5,210 | $6,773 |
Other Current Assets | $0 | $0 | $0 |
Total Current Assets | $88,800 | $198,631 | $376,199 |
Long-term Assets | |||
Long-term Assets | $25,000 | $25,000 | $25,000 |
Accumulated Depreciation | $4,500 | $8,500 | $13,500 |
Total Long-term Assets | $20,500 | $16,500 | $11,500 |
Total Assets | $109,300 | $215,131 | $387,699 |
Liabilities and Capital | Year 1 | Year 2 | Year 3 |
Current Liabilities | |||
Accounts Payable | $15,289 | $15,810 | $20,525 |
Current Borrowing | $0 | $0 | $0 |
Other Current Liabilities | $0 | $0 | $0 |
Subtotal Current Liabilities | $15,289 | $15,810 | $20,525 |
Long-term Liabilities | $19,666 | $19,666 | $19,666 |
Total Liabilities | $34,955 | $35,476 | $40,191 |
Paid-in Capital | $40,000 | $40,000 | $40,000 |
Retained Earnings | ($23,000) | $34,345 | $139,655 |
Earnings | $57,345 | $105,310 | $167,853 |
Total Capital | $74,345 | $179,655 | $347,508 |
Total Liabilities and Capital | $109,300 | $215,131 | $387,699 |
Net Worth | $74,345 | $179,655 | $347,508 |
Business ratios for the years of this plan are shown below. Industry profile ratios for Commercial Drycleaning and Laundry Collection and Distribution Establishments, based on the Standard Industrial Classification code 7216.9903, are shown for comparison.
Ratio Analysis | ||||
Year 1 | Year 2 | Year 3 | Industry Profile | |
Sales Growth | 0.00% | 30.00% | 30.00% | 4.37% |
Percent of Total Assets | ||||
Inventory | 3.67% | 2.42% | 1.75% | 4.37% |
Other Current Assets | 0.00% | 0.00% | 0.00% | 38.35% |
Total Current Assets | 81.24% | 92.33% | 97.03% | 55.47% |
Long-term Assets | 18.76% | 7.67% | 2.97% | 44.53% |
Total Assets | 100.00% | 100.00% | 100.00% | 100.00% |
Current Liabilities | 13.99% | 7.35% | 5.29% | 22.38% |
Long-term Liabilities | 17.99% | 9.14% | 5.07% | 24.56% |
Total Liabilities | 31.98% | 16.49% | 10.37% | 46.94% |
Net Worth | 68.02% | 83.51% | 89.63% | 53.06% |
Percent of Sales | ||||
Sales | 100.00% | 100.00% | 100.00% | 100.00% |
Gross Margin | 89.02% | 89.02% | 89.02% | 100.00% |
Selling, General & Administrative Expenses | 71.36% | 64.07% | 58.43% | 77.90% |
Advertising Expenses | 0.00% | 0.00% | 0.00% | 2.06% |
Profit Before Interest and Taxes | 25.84% | 36.11% | 44.06% | 2.41% |
Main Ratios | ||||
Current | 5.81 | 12.56 | 18.33 | 1.70 |
Quick | 5.55 | 12.23 | 18.00 | 1.28 |
Total Debt to Total Assets | 31.98% | 16.49% | 10.37% | 61.40% |
Pre-tax Return on Net Worth | 110.19% | 83.74% | 69.00% | 4.39% |
Pre-tax Return on Assets | 74.95% | 69.93% | 61.85% | 11.38% |
Additional Ratios | Year 1 | Year 2 | Year 3 | |
Net Profit Margin | 17.66% | 24.95% | 30.59% | n.a |
Return on Equity | 77.13% | 58.62% | 48.30% | n.a |
Activity Ratios | ||||
Inventory Turnover | 11.85 | 10.06 | 10.06 | n.a |
Accounts Payable Turnover | 9.75 | 12.17 | 12.17 | n.a |
Payment Days | 27 | 30 | 27 | n.a |
Total Asset Turnover | 2.97 | 1.96 | 1.42 | n.a |
Debt Ratios | ||||
Debt to Net Worth | 0.47 | 0.20 | 0.12 | n.a |
Current Liab. to Liab. | 0.44 | 0.45 | 0.51 | n.a |
Liquidity Ratios | ||||
Net Working Capital | $73,511 | $182,821 | $355,674 | n.a |
Interest Coverage | 42.66 | 77.50 | 122.93 | n.a |
Additional Ratios | ||||
Assets to Sales | 0.34 | 0.51 | 0.71 | n.a |
Current Debt/Total Assets | 14% | 7% | 5% | n.a |
Acid Test | 5.55 | 12.23 | 18.00 | n.a |
Sales/Net Worth | 4.37 | 2.35 | 1.58 | n.a |
Dividend Payout | 0.00 | 0.00 | 0.00 | n.a |
Sales Forecast | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Sales | |||||||||||||
Dry Cleaning | 0% | $4,176 | $5,364 | $6,156 | $8,280 | $9,216 | $9,720 | $10,728 | $11,520 | $12,456 | $12,924 | $13,212 | $13,140 |
Laundry | 0% | $6,612 | $8,493 | $9,747 | $13,110 | $14,592 | $15,390 | $16,986 | $18,240 | $19,722 | $20,463 | $20,919 | $20,805 |
Alteration Services | 0% | $812 | $1,043 | $1,197 | $1,610 | $1,792 | $1,890 | $2,086 | $2,240 | $2,422 | $2,513 | $2,569 | $2,555 |
Other | 0% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Total Sales | $11,600 | $14,900 | $17,100 | $23,000 | $25,600 | $27,000 | $29,800 | $32,000 | $34,600 | $35,900 | $36,700 | $36,500 | |
Direct Cost of Sales | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | |
Dry Cleaning | 12% | $501 | $644 | $739 | $994 | $1,106 | $1,166 | $1,287 | $1,382 | $1,495 | $1,551 | $1,585 | $1,577 |
Laundry | 8% | $529 | $679 | $780 | $1,049 | $1,167 | $1,231 | $1,359 | $1,459 | $1,578 | $1,637 | $1,674 | $1,664 |
Alteration Services | 30% | $244 | $313 | $359 | $483 | $538 | $567 | $626 | $672 | $727 | $754 | $771 | $767 |
Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Subtotal Direct Cost of Sales | $1,274 | $1,636 | $1,878 | $2,525 | $2,811 | $2,965 | $3,272 | $3,514 | $3,799 | $3,942 | $4,030 | $4,008 |
Personnel Plan | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Director/Accountant | 0% | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 |
Laundry expert | 0% | $2,080 | $2,080 | $2,080 | $2,080 | $2,080 | $2,080 | $2,080 | $2,080 | $2,080 | $2,080 | $2,080 | $2,080 |
Worker-1 | 0% | $936 | $936 | $936 | $936 | $936 | $936 | $936 | $936 | $936 | $936 | $936 | $936 |
Worker-2 | 0% | $936 | $936 | $936 | $936 | $936 | $936 | $936 | $936 | $936 | $936 | $936 | $936 |
Worker-3 | 0% | $0 | $0 | $0 | $936 | $936 | $936 | $936 | $936 | $936 | $936 | $936 | $936 |
Driver-1 | 0% | $364 | $364 | $364 | $364 | $364 | $364 | $364 | $364 | $364 | $364 | $364 | $364 |
Driver-2 | 0% | $364 | $364 | $364 | $364 | $364 | $364 | $364 | $364 | $364 | $364 | $364 | $364 |
Driver-3 | 0% | $0 | $0 | $0 | $364 | $364 | $364 | $364 | $364 | $364 | $364 | $364 | $364 |
Other | 0% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Total People | 6 | 6 | 6 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | |
Total Payroll | $8,680 | $8,680 | $8,680 | $9,980 | $9,980 | $9,980 | $9,980 | $9,980 | $9,980 | $9,980 | $9,980 | $9,980 |
Pro Forma Profit and Loss | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Sales | $11,600 | $14,900 | $17,100 | $23,000 | $25,600 | $27,000 | $29,800 | $32,000 | $34,600 | $35,900 | $36,700 | $36,500 | |
Direct Cost of Sales | $1,274 | $1,636 | $1,878 | $2,525 | $2,811 | $2,965 | $3,272 | $3,514 | $3,799 | $3,942 | $4,030 | $4,008 | |
Other Costs of Sales | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Total Cost of Sales | $1,274 | $1,636 | $1,878 | $2,525 | $2,811 | $2,965 | $3,272 | $3,514 | $3,799 | $3,942 | $4,030 | $4,008 | |
Gross Margin | $10,326 | $13,264 | $15,222 | $20,475 | $22,789 | $24,035 | $26,528 | $28,486 | $30,801 | $31,958 | $32,670 | $32,492 | |
Gross Margin % | 89.02% | 89.02% | 89.02% | 89.02% | 89.02% | 89.02% | 89.02% | 89.02% | 89.02% | 89.02% | 89.02% | 89.02% | |
Expenses | |||||||||||||
Payroll | $8,680 | $8,680 | $8,680 | $9,980 | $9,980 | $9,980 | $9,980 | $9,980 | $9,980 | $9,980 | $9,980 | $9,980 | |
Marketing/Promotion | $150 | $150 | $150 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | $200 | |
Depreciation | $250 | $250 | $250 | $417 | $417 | $417 | $417 | $417 | $417 | $417 | $417 | $417 | |
Rent | $1,200 | $1,200 | $1,200 | $1,200 | $1,200 | $1,200 | $1,200 | $1,200 | $1,200 | $1,200 | $1,200 | $1,200 | |
Utilities | $700 | $700 | $700 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | |
Telecommunications | $400 | $400 | $400 | $400 | $400 | $400 | $400 | $400 | $400 | $400 | $400 | $400 | |
Insurance | $700 | $700 | $700 | $900 | $900 | $900 | $900 | $900 | $900 | $900 | $900 | $900 | |
Payroll Taxes | 15% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Maintenance | $100 | $100 | $100 | $100 | $100 | $100 | $100 | $100 | $100 | $100 | $100 | $100 | |
Gas | $250 | $250 | $250 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | |
Equipment lease | $1,667 | $1,667 | $1,667 | $1,667 | $1,667 | $1,667 | $1,667 | $1,667 | $1,667 | $1,667 | $1,667 | $1,667 | |
Office cleaning | 15% | $300 | $300 | $300 | $300 | $300 | $300 | $300 | $300 | $300 | $300 | $300 | $300 |
Other | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | $1,000 | |
Total Operating Expenses | $15,397 | $15,397 | $15,397 | $17,663 | $17,663 | $17,663 | $17,663 | $17,663 | $17,663 | $17,663 | $17,663 | $17,663 | |
Profit Before Interest and Taxes | ($5,070) | ($2,133) | ($174) | $2,811 | $5,126 | $6,372 | $8,865 | $10,823 | $13,138 | $14,295 | $15,007 | $14,829 | |
EBITDA | ($4,820) | ($1,883) | $76 | $3,228 | $5,542 | $6,789 | $9,281 | $11,240 | $13,554 | $14,712 | $15,424 | $15,246 | |
Interest Expense | $164 | $164 | $164 | $164 | $164 | $164 | $164 | $164 | $164 | $164 | $164 | $164 | |
Taxes Incurred | ($1,570) | ($689) | ($101) | $794 | $1,489 | $1,862 | $2,610 | $3,198 | $3,892 | $4,239 | $4,453 | $4,400 | |
Net Profit | ($3,664) | ($1,608) | ($237) | $1,853 | $3,473 | $4,346 | $6,091 | $7,461 | $9,082 | $9,892 | $10,390 | $10,266 | |
Net Profit/Sales | -31.59% | -10.79% | -1.38% | 8.06% | 13.57% | 16.10% | 20.44% | 23.32% | 26.25% | 27.55% | 28.31% | 28.12% |
Pro Forma Cash Flow | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Cash Received | |||||||||||||
Cash from Operations | |||||||||||||
Cash Sales | $11,600 | $14,900 | $17,100 | $23,000 | $25,600 | $27,000 | $29,800 | $32,000 | $34,600 | $35,900 | $36,700 | $36,500 | |
Subtotal Cash from Operations | $11,600 | $14,900 | $17,100 | $23,000 | $25,600 | $27,000 | $29,800 | $32,000 | $34,600 | $35,900 | $36,700 | $36,500 | |
Additional Cash Received | |||||||||||||
Sales Tax, VAT, HST/GST Received | 0.00% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
New Current Borrowing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
New Other Liabilities (interest-free) | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
New Long-term Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Sales of Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Sales of Long-term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
New Investment Received | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Subtotal Cash Received | $11,600 | $14,900 | $17,100 | $23,000 | $25,600 | $27,000 | $29,800 | $32,000 | $34,600 | $35,900 | $36,700 | $36,500 | |
Expenditures | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | |
Expenditures from Operations | |||||||||||||
Cash Spending | $8,680 | $8,680 | $8,680 | $9,980 | $9,980 | $9,980 | $9,980 | $9,980 | $9,980 | $9,980 | $9,980 | $9,980 | |
Bill Payments | $202 | $6,108 | $7,526 | $8,740 | $11,419 | $12,029 | $12,452 | $13,646 | $14,418 | $15,419 | $15,763 | $15,995 | |
Subtotal Spent on Operations | $8,882 | $14,788 | $16,206 | $18,720 | $21,399 | $22,009 | $22,432 | $23,626 | $24,398 | $25,399 | $25,743 | $25,975 | |
Additional Cash Spent | |||||||||||||
Sales Tax, VAT, HST/GST Paid Out | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Principal Repayment of Current Borrowing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Other Liabilities Principal Repayment | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Long-term Liabilities Principal Repayment | $334 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Purchase Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Purchase Long-term Assets | $0 | $0 | $0 | $10,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Dividends | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Subtotal Cash Spent | $9,216 | $14,788 | $16,206 | $28,720 | $21,399 | $22,009 | $22,432 | $23,626 | $24,398 | $25,399 | $25,743 | $25,975 | |
Net Cash Flow | $2,384 | $112 | $894 | ($5,720) | $4,201 | $4,991 | $7,368 | $8,374 | $10,202 | $10,501 | $10,957 | $10,525 | |
Cash Balance | $22,384 | $22,496 | $23,390 | $17,671 | $21,872 | $26,863 | $34,232 | $42,606 | $52,808 | $63,310 | $74,267 | $84,792 |
Pro Forma Balance Sheet | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Assets | Starting Balances | ||||||||||||
Current Assets | |||||||||||||
Cash | $20,000 | $22,384 | $22,496 | $23,390 | $17,671 | $21,872 | $26,863 | $34,232 | $42,606 | $52,808 | $63,310 | $74,267 | $84,792 |
Inventory | $2,000 | $1,726 | $1,636 | $1,878 | $2,525 | $2,811 | $2,965 | $3,272 | $3,514 | $3,799 | $3,942 | $4,030 | $4,008 |
Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Total Current Assets | $22,000 | $24,111 | $24,132 | $25,268 | $20,196 | $24,683 | $29,828 | $37,504 | $46,120 | $56,607 | $67,251 | $78,297 | $88,800 |
Long-term Assets | |||||||||||||
Long-term Assets | $15,000 | $15,000 | $15,000 | $15,000 | $25,000 | $25,000 | $25,000 | $25,000 | $25,000 | $25,000 | $25,000 | $25,000 | $25,000 |
Accumulated Depreciation | $0 | $250 | $500 | $750 | $1,167 | $1,583 | $2,000 | $2,417 | $2,833 | $3,250 | $3,667 | $4,083 | $4,500 |
Total Long-term Assets | $15,000 | $14,750 | $14,500 | $14,250 | $23,833 | $23,417 | $23,000 | $22,583 | $22,167 | $21,750 | $21,333 | $20,917 | $20,500 |
Total Assets | $37,000 | $38,861 | $38,632 | $39,518 | $44,029 | $48,100 | $52,828 | $60,087 | $68,286 | $78,357 | $88,585 | $99,213 | $109,300 |
Liabilities and Capital | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | |
Current Liabilities | |||||||||||||
Accounts Payable | $0 | $5,858 | $7,238 | $8,360 | $11,018 | $11,615 | $11,998 | $13,166 | $13,904 | $14,894 | $15,229 | $15,468 | $15,289 |
Current Borrowing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Other Current Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Subtotal Current Liabilities | $0 | $5,858 | $7,238 | $8,360 | $11,018 | $11,615 | $11,998 | $13,166 | $13,904 | $14,894 | $15,229 | $15,468 | $15,289 |
Long-term Liabilities | $20,000 | $19,666 | $19,666 | $19,666 | $19,666 | $19,666 | $19,666 | $19,666 | $19,666 | $19,666 | $19,666 | $19,666 | $19,666 |
Total Liabilities | $20,000 | $25,524 | $26,904 | $28,026 | $30,684 | $31,281 | $31,664 | $32,832 | $33,570 | $34,560 | $34,895 | $35,134 | $34,955 |
Paid-in Capital | $40,000 | $40,000 | $40,000 | $40,000 | $40,000 | $40,000 | $40,000 | $40,000 | $40,000 | $40,000 | $40,000 | $40,000 | $40,000 |
Retained Earnings | ($23,000) | ($23,000) | ($23,000) | ($23,000) | ($23,000) | ($23,000) | ($23,000) | ($23,000) | ($23,000) | ($23,000) | ($23,000) | ($23,000) | ($23,000) |
Earnings | $0 | ($3,664) | ($5,272) | ($5,508) | ($3,655) | ($182) | $4,164 | $10,254 | $17,716 | $26,798 | $36,689 | $47,079 | $57,345 |
Total Capital | $17,000 | $13,336 | $11,729 | $11,492 | $13,345 | $16,819 | $21,164 | $27,255 | $34,716 | $43,798 | $53,690 | $64,080 | $74,345 |
Total Liabilities and Capital | $37,000 | $38,861 | $38,632 | $39,518 | $44,029 | $48,100 | $52,828 | $60,087 | $68,286 | $78,357 | $88,585 | $99,213 | $109,300 |
Net Worth | $17,000 | $13,336 | $11,729 | $11,492 | $13,345 | $16,819 | $21,164 | $27,255 | $34,716 | $43,798 | $53,690 | $64,080 | $74,345 |
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The idea of laundry service is a product of Western culture, where customers go to a store and wash their clothes using a washing machine and detergent. When a single washer doesn't work, laundry services clean the fabric on a larger scale. Hotels, restaurants, hospitals, and other locations that need regular fabric cleaning extensively use these services.
Like any other business, a laundry service needs a thorough business plan that includes the objectives and a strategy for achieving them. This plan will encompass operational details, staffing needs, financial evaluation, market analysis, customer assessment, and more. It aims to assess the firm's feasibility comprehensively. A well-executed business plan ppt will aid entrepreneurs in securing capital and loans for maintenance, expansion, and growth.
This blog will discuss the best laundry business plan templates for your company.
Table of contents, 1. executive summary, 2. company overview, 3. industry analysis, 4. customer analysis, 5. competitor analysis, 6. swot analysis, 7. porter's framework, 8. marketing plan, 9. operational plan, 10. financial plan.
Getting clean clothes is only one aspect of laundry – the other is improving the overall service. Furthermore, when launching a laundry business, many possibilities are challenging to track. Our templates are helpful in this situation.
Using our comprehensive business plan template gives your business ideas a canvas and a notebook. These templates were created explicitly with the needs of a laundry and dry-cleaning business plan in mind. This blog will cover details on the top 10 pages of the complete deck. After downloading, you will get 65-page Doc, PDF, and XLS files.
An executive summary should highlight your laundry business's distinctive value proposition, mission, and vision. Investors can swiftly determine the organization's viability by viewing your fundamental goals and essential tactics.
In our Executive Summary section, you will get templates for:
1.1 The Quick Pitch: Provide an impressive and brief introduction, highlighting the key characteristics and value propositions that make your laundry business stand out.
1.2 The Entity Profile: Create an easy-to-understand visual representation of your business structure and unique brand strategically designed to capture the attention of investors and partners.
Download this business plan
(Looking for a specific commercial business plan for your laundry services, look no further than our business plan ! Commercialize your services the right way)
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You may inspire trust in potential investors by clearly representing your company's objectives, culture, and long-term goals. This section is an opportunity to demonstrate your enthusiasm and dedication, an aspect that lures investors who share your values and vision.
In our Company Overview section, you will get templates for:
2.1 Vision and Mission: Create a compelling mission and vision statement to lead your laundry business to success.
2.2 Company Goals and Objectives: Understand exactly what you want to accomplish with your laundry business, creating a transparent and inspirational roadmap to success.
2.3 Start-up Summary: Provide a glimpse into your laundry business’s history, revealing how it started, how it has been structured, the use of coin-operated machines , and fundamental elements forming the foundation for your creative process.
2.4 Market Gap Analysis and Business Statement: Unlock untold potential in the laundry industry and showcase your unique business brand identity, positioning your brand as a leader.
2.5 Services Portfolio: Showcase a wide range of high-end laundry services .
2.6 Key Success Factors: Identify the key elements defining your laundry business strategy, paving the way to success in design and aesthetics.
(Given the growth of on-demand laundry services, your interest may be piqued to explore our business plan designed especially for those needs, download it right away)
The Industry Analysis section provides an in-depth analysis of the laundry industry’s current state and trends. Investors are looking for high-growth businesses to invest in. This section provides insights into the market size, key industry trends, and new opportunities. It places your laundry business in a position to understand the dynamics of the industry, making it more appealing to investors looking for growth industries to invest in.
In our Industry Analysis section, you will get templates for:
3.1 Market Analysis: Dig deep into the world of laundry, discovering hidden gems and uncovering industry leaders that will shape your business for years.
3.2 Market Trends Tracking: Stay ahead of the rest by keeping an eye on the latest trends to capture the attention of today’s customers.
3.3 Major Challenges and Solutions: Fearlessly take on industry challenges, creating cutting-edge solutions that ensure continuous growth for your laundry business.
3.4 Growth Drivers Identification: Develop strategic plans and identify the crucial factors that will drive your laundry brand to rapid growth and long-term success.
3.5 Geographical Market Analysis: Customise your strategy to the regions in your target market, allowing for smooth growth that aligns with regional preferences and meets unique needs.
(If your business caters to fresh laundry services, we have just the apt resource for you to explore! Download our fresh laundry services business plan template today!)
Understanding your customers is crucial to attracting investors to your business. In this section, demonstrate your understanding of your customers, including their needs, preferences, and characteristics. Investors want to know that you've figured out what kind of market you're in and develop strategies to attract and retain customers.
Our Customer Analysis section offers comprehensive templates for:
4.1 Target Market Definition: Create a crystal clear view of the customer or business segments in which your laundry services excel, ensuring a precise and measurable market approach.
4.2 Buyer Persona Development: Build a detailed profile of your perfect customer, from age and gender to preferences and behaviour. This will help you personalize your services precisely, skillfully meeting your customer’s needs.
4.3 Market Sizing Analysis: Understand the size of your laundry market, calculate the market share that your brand can grab, and paint a picture of the opportunities that are waiting for you in your business environment.
Investors love businesses well-versed in competition and know laundry care growth statistics . This section will give you insights into your competition's strengths and weaknesses. This will help investors evaluate your business’s competitive edge.
In our Competitor Analysis section, we provide templates for:
5.1 Major Players: Identify and analyze the top competitors and key players driving the laundry market in your area.
5.2 Attributes Comparison: Conduct in-depth research, creating meaningful comparisons of the key characteristics and features that distinguish different laundry products and services on the market, allowing you to position your products strategically.
A SWOT, short for Strengths, Weaknesses, Opportunities, and Threats- Analysis is a must-have tool if you’re looking to self-assess your business. It helps investors understand your laundry business’s strong suits and weak spots and its external opportunities and threats. On this page, you’ll see how to identify and mitigate your business’s risks while taking advantage of its strengths. This will make your business more attractive to risk-averse investors.
Porter’s Framework looks at the competitive forces in your industry. Investors want to know how your laundry business is positioned in the market and its resilience to competitive pressures. Showcasing your competitive strategies and market positioning can draw in investors looking for businesses with a strong market presence and a long-term competitive advantage.
The Marketing Plan includes information about how to attract and engage customers. Investors are looking for a comprehensive marketing plan that can aid with brand development and building a customer base. A successful marketing plan appeals to individuals and investors who recognize the importance of effective marketing for business growth.
In our Marketing Plan section, we provide templates for:
8.1 Sales Strategy: Create a custom sales plan carefully crafted to exceed your laundry business’s financial goals and aspirations.
8.2 Promotional Strategy: Shine a bright light on your marketing and promotion strategies, creating excitement and a lasting legacy for your laundry brand.
8.3 Pricing Strategy: Discover the secret to your pricing strategy that seamlessly combines profitability and unmatched competitiveness, setting the benchmark in the laundry industry.
8.4 Sales Funnel Optimization: Navigate the captivating experience from discovery to customer satisfaction with the laundromat's business growth . Optimize every sales funnel stage to maximize efficiency and delight in your laundry experience.
On the Operational Plan page, you can outline your business’s daily operations, including personnel, operations, and technology. Having a well-thought-out operational plan helps investors trust that your business will meet its goals and continue to grow.
In our Operational Plan section, we provide templates for:
9.1 Retail Selling Strategy: Lead the way to retail success with a strategic plan for selling your laundry refurbishment, demonstrating your sales skills and tactical thinking.
9.2 E-commerce Sales Strategy: Get ahead of the competition with a comprehensive plan and budget to take over the online market with your unique laundry services.
9.3 Milestones and Achievements: Brighten up your laundry business’s journey by highlighting the critical turning points and impressive successes.
The Financial Plan is essential for investors as it gives them a better understanding of your laundry project management finances. This section guides them in estimating their potential returns on investment.
In our Financial Plan section, we provide templates for:
10.1 Financial Assumptions: Turn your business goals into a plan that will help shape the financials of your laundry business with professional ironing and folding .
10.2 Revenue Model and Sales Forecast: Show off how your laundry business makes money and how it can grow.
10.3 Break-Even Analysis: Getting to the bottom of what's holding your laundry business back from breaking even is a big step to making money.
10.4 Projected Profit and Loss Account: Draw a clear picture of what your laundry business can do financially, how much money you can make, how much you need to spend, and how much you can expect to make.
10.5 Projected Cash Flow Statement: Make sure your laundry business runs smoothly by observing how much money you expect to make.
10.6 Projected Balance Sheet: Get a complete picture of what your laundry business is expected to make, what it will owe, and what it's worth. That way, you can ensure your finances are as transparent as possible.
10.7 Scenario Analysis: Explore different scenarios to see how different conditions and risks could affect the financial strength of your laundry business.
10.8 DCF Valuation: Using discounted cash flow (DCF) analysis, you can determine how much your business is worth today in the laundry industry.
We hope this blog has given you an idea of the amazing content you could gain from this business plan. But this is just the beginning. Upon downloading this business plan, you'll receive all 65 pages and all the valuable content it contains. Starting a laundry business is no easy feat, but we can simplify it. You can download the entire business plan in an easy-to-edit PowerPoint to modify it per your business’s requirements.
1. what is a laundry business plan.
A laundry business plan is a thorough document outlining the plans and goals for starting and running a profitable business. It includes essential elements, including market analysis, financial estimates, marketing plans, and operational strategies. It acts as a road map for business owners, guiding them through the difficulties of the laundry sector and, if necessary, obtaining capital.
A laundry business's profitability can vary significantly based on variables including location, pricing, and services provided. A successful laundry operation can make a profit, but success demands careful planning, effective management, and efficient operations.
A laundry business strategy contains the following steps:
There are three primary categories of launderettes:
The following are typical risks in the laundry industry: - Equipment failures and maintenance expenditures.
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Journal of medicine and life
Victor Lorin Purcarea
Creative, dynamic strategies are the ones that identify new and better ways of uniquely offering the target customers what they want or need. A business can achieve competitive advantage if it chooses a marketing strategy that sets the business apart from anyone else. Healthcare services companies have to understand that the customer should be placed in the centre of all specific marketing operations. The brand message should reflect the focus on the patient. Healthcare products and services offered must represent exactly the solutions that customers expect. The touchpoints with the patients must be well mastered in order to convince them to accept the proposed solutions. Healthcare service providers must be capable to look beyond customer's behaviour or product and healthcare service aquisition. This will demand proactive and far-reaching changes, including focusing specifically on customer preference, quality, and technological interfaces; rewiring strategy to find new value f...
shamola pramjeeth
Introduction The goal of every business is to make profit. This goal can be achieved by attracting and retaining customers through marketing. Marketing is therefore a means to determining what the customer's want, which will lead to customer satisfaction, loyalty and profitability. Business owners should carefully plan their marketing strategies and performance to keep their market presence strong. Home-based business alternatives have become an attractive proposition for the unemployed who are finding it extremely difficult to find work thus, deciding to be self-employed thereby setting up small and micro enterprises. Baron and Shane (2008:5) regard these people as entrepreneurs because they have recognised opportunities and created something new. One of the main reasons for justifying the existence of home-based businesses as cited by Walker and Brown (2004:581) is that, many of them are service orientated and with the continuing advancement in technology and communication, th...
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Mr. Walz, the governor of Minnesota, worked as a high school social studies teacher and football coach, served in the Army National Guard and chooses Diet Mountain Dew over alcohol.
By Simon J. Levien and Maggie Astor
Until recently, Gov. Tim Walz of Minnesota was a virtual unknown outside of the Midwest, even among Democrats. But his stock rose fast in the days after President Biden withdrew from the race, clearing a path for Ms. Harris to replace him and pick Mr. Walz as her No. 2.
Here’s a closer look at the Democrats’ new choice for vice president.
1. He is a (very recent) social media darling . Mr. Walz has enjoyed a groundswell of support online from users commenting on his Midwestern “dad vibes” and appealing ordinariness.
2. He started the whole “weird” thing. It was Mr. Walz who labeled former President Donald J. Trump and his running mate, Senator JD Vance of Ohio, “weird” on cable television just a couple of weeks ago. The description soon became a Democratic talking point.
3. He named a highway after Prince and signed the bill in purple ink. “I think we can lay to rest that this is the coolest bill signing we’ll ever do,” he said as he put his name on legislation declaring a stretch of Highway 5 the “Prince Rogers Nelson Memorial Highway” after the musician who had lived in Minnesota.
4. He reminds you of your high school history teacher for a reason. Mr. Walz taught high school social studies and geography — first in Alliance, Neb., and then in Mankato, Minn. — before entering politics.
5. He taught in China in 1989 and speaks some Mandarin. He went to China for a year after graduating from college and taught English there through a program affiliated with Harvard University.
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Step 1. The definition of a business plan is that it is a written description of the future of a business. It's a document that tells the story of what the plan is and how to make it happen. Although every business has its own story, there are some generally accepted conventions about what a full-blown business plan should include and how it ...
The Plan. Our dry cleaning business plan is structured to cover essential aspects vital for a comprehensive strategic framework. It details the business's operational processes, marketing strategies, market analysis, competitive landscape, management team, and financial projections. Executive Summary: Offers an overview of your dry cleaning ...
Here are the key steps to consider when writing a business plan: 1. Executive Summary. An executive summary is the first section planned to offer an overview of the entire business plan. However, it is written after the entire business plan is ready and summarizes each section of your plan.
ur. odds of getting a. business loan:1. Focus on yourselfThe first step is to take a l. ok at yourself as a business owner. Lenders will look at your personal character, your entrepreneurial ex. erience and your financing history. While your new business is important, wha.
Dry Cleaning Business Plan Template. Over the past 20+ years, we have helped over 1,000 entrepreneurs and business owners create business plans to start and grow their dry cleaning businesses. On this page, we will first give you some background information with regards to the importance of business planning.
For more information on how much it costs to open and run a laundry shop, read our complete guide here. Startup cost. Amount. Lease security deposit (or loan down payment) $11,000 (rent) - $40,000 (buy) Equipment (washers, dryers, POS, etc.) $150,000 to $450,000. Total. $151,000 - $490,000.
Ensure that your business plan has a list of all the machines, equipment, detergents needed by your laundromat business. The kind of services you choose to provide will determine the kind of equipment and detergents you will need. The costs of purchasing the machines & equipment should be included in your laundry business plan.
Creating a business plan is essential for ensuring the success of a new project, such as a dry cleaning business. It provides an opportunity to identify potential risks and develop strategies to address them before starting the business. In short, a good business plan will help ensure the profitability of your dry cleaning business.
In our laundromat business plan template products and services section, we cover: Dry cleaning services: a selection of services including dry cleaning, ironing, laundry, stain removal and washing sensitive materials. Self-service laundry: using either an eco-friendly detergent or otherwise when washing clothes.
Market size and growth potential. Help tip Dry Cleaning Business Plan. Describe your market size and growth potential and whether you will target a niche or a much broader market. For example, the dry cleaning market size was valued at USD 69.3 billion To in unlock 2022 help and try is Upmetrics! .
Dry Cleaning Business Plan Template. If you want to start a successful dry cleaning business or expand your current dry cleaning service, you need a business plan. Fortunately, you're in the right place. Our team has helped develop over 100,000 business plans over the past 20 years, including thousands of dry cleaning business plans.
Store design/build: $150,000. Three months of overhead expenses (payroll, rent, utilities): $150,000. Marketing costs: $50,000. Working capital: $50,000. Easily complete your Dry Cleaning business plan! Download the Dry Cleaning business plan template (including a customizable financial model) to your computer here <-.
The cost for Washer hook-up fees (sewer connection) - $800. Cost for serving area equipment for coffee café and snacks bar ( glasses, flatware) - $5,000. Cost for laundry machines and equipment (washing machines, dryers, industrial irons, ironing board et al ) - $100,000.
Laundromat Business Plan. Universal Laundromat is a laundry service that will supply full washing, drying, and optional folding services. Before you start your own dry cleaning business, it's a good idea to write a business plan. But where do you start? First, check out a sample business plan for a laundromat or dry cleaning service. Explore ...
Step 6: Offer the Best Services and Pricing. To boost your laundry business it is also important to offer customers the best service. You could decide to offer free services which could range from free delivery to 'pay to wash 5 shirts and wash one free' services to customers as this could also help increase patronage.
1 Tumble dryer - 40 lb capacity, stainless steel drum and gas heated. 1 Dry cleaning machine - 25 lb. 1 Roller Iron 40 x 12 inch, variable speed and vacuum exhauster. 1 Ironing table with steaming vacuum board, integral 2 gallon boiler, iron, water pump and light. Capital plan: The owner will invest $40,000 in the business.
Download this business plan. 6. SWOT Analysis. A SWOT, short for Strengths, Weaknesses, Opportunities, and Threats- Analysis is a must-have tool if you're looking to self-assess your business. It helps investors understand your laundry business's strong suits and weak spots and its external opportunities and threats.
Here's a Sample 'Executive Summary' for a Laundry Business plan: COMPANY NAME is a long-term enterprise that was established in Pullman, WA in 1976 as a sole-proprietorship company currently owned by OWNER'S NAME The company will provide dry cleaning, laundry, and garment alterations, offered with regular drive-through pick-up services. The ...
This business plan provides a blueprint for how to start and manage your Dry Cleaning business. Our detailed research and analysis, including interviews with entrepreneurs and stakeholders, will ensure that you plan your future business for success. A business plan is used for various purposes including to (a) Raise funding from investors ...
BUSINESS PLAN CLEAN-NEAT MOBILE CLEANING AND LAUNDRY SERVICES BLK B53, AMAMOMA. P. O BOX 39, CAPE COAST +233549696006 11/22/2017 GROUP 3 Table of Content INTRODUCTORY PAGE 3 Name and Address of Business 3 Names and Addresses of Principals 3 Nature of Business 3 Statement of Confidentiality of Report 3 EXECUTIVE SUMMARY 4 Objectives 4 Our Vision Statement 5 Our Mission Statement 5 COMPANY ...
4. He reminds you of your high school history teacher for a reason. Mr. Walz taught high school social studies and geography — first in Alliance, Neb., and then in Mankato, Minn. — before ...