Laundry Business Plan

Overview

In Nigeria, there are 1.7 million people all of which wear clothes. More than 40% of this population do not have the time or the energy to do their own laundry and rely on other people to do their laundry for them. This is why the laundry business is a lucrative business. It is important to note that laundry is quite different from dry cleaning as the latter does not involve the use of water while the former does. Although locals in rural communities run this type of business on a small scale, there are medium scale to big time investors who also operate standard laundromats. 

One very important thing that a laundry business should have is a fixed price, for instance, a price of N500 can be fixed for washing and ironing a shirt. The success of the business depends on the number of regular customers the business has. 

The laundry line of business is indeed a thriving line of business and pretty active in most parts of the world as is can generate high income and require a relatively low start-up capital. This line of business is responsible for the employment of a large number of people directly and indirectly all around the world. 

Any aspiring entrepreneur that is considering starting a laundry business whether on a small or large scale should ensure that he or she conducts a thorough market survey and feasibility study so as to get it right. The truth is that, this type of business does pretty well when it is strategically positioned. Any location that is close to a large number of working class individuals is ideal for such a business as they are the category of people who require laundry services regularly. 

Over and above, laundry is a profitable is a profitable business venture and it is open for any aspiring entrepreneur to come in and establish his or her business; you can choose to start small from the confinement of your home or rent a place, the business start-up depends on the scale you wish to undertake and the funding available but over and above the business is sure to generate high ROI.

Table of Content

Overview

1.0 Executive Summary

1.1 Objectives

1.2 Vision

1.3 Mission

1.4 Keys to Success

2.0 Company Summary

2.1 Company Ownership

2.2 Location and Facilities

2.3 Startup Summary 

Table: Start-up Funding

3.0 Services

3.1 Competitive Comparison

4.0 Market Analysis 

4.0.1 Market Summary

4.0.2 Marketing Plan

4.1 Target Market Segment Strategy

4.2 Market Segmentation

4.3 Industry Analysis

4.4 Challenges Facing the Laundry Industry

4.5 SWOT Analysis

4.5.1 Strengths

4.5.2 Weaknesses

4.5.3 Opportunities

4.5.4 Threats

4.6 External Environmental Analysis

4.7 Competition and Buying Patterns

4.8 Marketing Strategy

4.9 Publicity and Advertising Strategy

4.10 Sales Forecast

5.0 Strategy and Implementation Summary

5.1 Competitive Edge

6.0 Management Summary

6.1 Management Team

6.2 Personnel Plan

7.0 Financial Plan

7.1 Break even Analysis

7.2 Projected Profit and Loss

7.3 Projected Cash Flow

          7.4 Projected Balance Sheet