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The Laundry Room is a full-service, including wash, dry, fold, dry cleaning, repairs and alterations, pick-up and delivery, coin operated laundry service dedicated to consistent customer satisfaction and loyalty by providing reliable machines and furnishing a regularly maintained clean, attractive atmosphere at a competitive price and value.
The Laundry Room offers its customers the opportunity to utilize or enjoy the output of the most superior, state of the art laundry machines the industry has to offer. Additionally, The Laundry Room will provide on-site retail cleaning and laundry products for one-time and household use.
The Laundry Room will focus on two target consumers:
Type A: Middle to Lower Class Individual(s) without the resources of an adequate laundry facility.
Generally this customer will occupy apartment complexes, government housing or condominium type housing. It will include home owners, families and individuals with inadequate laundry facilities without the financial resources to upgrade or replace faulty equipment immediately. These consumers will also include low-disposable income, physically capable senior citizens in community housing and students residing in dorms or rental properties.
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The Laundry Room will penetrate this market by offering self-service, coin and card operated, state of the art laundry machines in a clean, safe, customer service oriented environment. Coupons, loyalty discounts/cards and daily promotions will appeal to this financially moderate and conscious market.
Type B: Middle to Upper Class Individual(s) who possesses more money than time, an advanced taste and high demand for exceptional customer service but no time to complete routine laundry tasks.
This will include home owners, families and individuals who have high disposable income and require laundering assistance but fail to allocate the time commitment in busy work, family or life schedules. This unique and routine consumer will continue visiting The Laundry Room because of it's high quality output and impeccable customer service and become a devoted return customer. The Laundry Room will penetrate this market by offering professional laundry services, pick up and drop off work order delivery options and corporate discounts.
The Laundry Room's financial layout is quite reassuring. Since it is practicing a cash business with no receivables, however the introductory is generally more than majority of start-ups. The procedure is labor demanding with many services available in one location and The Laundry Room identifies that skilled talent and modern, state of the art buildings and equipment are a necessity. The financial and time investment in its labourers, locations and equipment will be the differentiating factor between The Laundry Room and it's competitors. For the purpose of this business plan template, the investments of equipment and locations are financed. There will be minimal product inventory kept on hand to take advantage of limited space and price drops in supplies and to discover consumer trends.
The Laundry Room projects the original sequence of investments and long term financing of $325,000.00 to abolish the need for additional debt or equity investing beyond the acquisition of equipment or locations. This will translate into slower expansion than what would otherwise the possible but based on consumer demands and product requests will allow more consistent and solid financial growth.
OBJECTIVES
The Laundry Room has generated three solidified objective it desires to accomplish in the next three years of business. 1. Three full-service laundry facilities in the Western Manitoba region. 2. Establish sustainable business by the end of the fourth quarter of the first year. 3. Product net profits.
4. To establish a beneficial brand to customers and gain brand loyalty within the first three months of operation by functioning socially and ethically responsibly.
MISSION
Our Mission Statement: The Laundry Room makes decisions that value our customers and employees. We are dedicated to providing unmatched customer satisfaction at every level of our operation with through our focused commitment to Leadership, Respect, Innovation and Technology, resulting in a profitable business and a satisfied consumer. Corporate activities are conducted with the highest standard of professionalism and ethics. Core Values:
People: We treat all people (customers, employees and vendors) with respect. Integrity: We manage our operations, finances and services with professionalism, honesty, efficiency and reliability. Service: Our customers are the heart of everything we do.
Innovation: We stay current and innovative with the systems, services and technologies that improve the way we operate our business and live our lives. Responsibility: We promote a safe, eco-friendly and clean environment for our customers, employees and vendors. Loyalty: We earn and maintain the respect and confidence in our customers, employees and vendors routinely, in everything we do. Our Motto: Professional, efficient, reliable service at a competitive price.
KEYS TO SUCCESS
There are four basic keys to success in this company, three are congruent with any service driven industry but our quality customer service (including interaction with customers, pick-up and delivery service and customer loyalty programs) and clean, modern environment (free Wi-Fi, state of the art machines, cash free machine options, gaming arcade) will give us an additional advantage in the consumer eye.
Convenient Location- visible, high-traffic pattern, efficiently accessible to consumer. The Best Products- state of the art machines, consistently clean, safe environment, eco-friendly laundry and cleaning products. The Friendliest, well-trained Staff- cheerful, professional, hygienic, articulate, highly skilled company representatives. Finest Reputation- Word of mouth advertising through impeccable customer service, community involvement and valuable customer referral program.
COMPANY SUMMARY
The Laundry Room is a full-service, including wash, dry, fold, dry cleaning, repairs and alterations, pick-up and delivery, coin operated laundry service dedicated to consistent customer satisfaction and loyalty by providing reliable machines and furnishing a regularly maintained clean, attractive atmosphere at a competitive price and value
COMPANY OWNERSHIP
The Laundry Room is a Limited Liability Company. All membership shares in the present day are owned by Brooke Ward and Joel McPhail with the future intent of using an excerpt of these shares to increase capital.
The projected plan requires the sale of 100 membership interests in the company to family, friends and informal investors. Each company membership interest is set to $4250.00 with a minimum of five entities per stock certificate or minimum of $21,250.00 per shareholder.
If and when all funds are collected, Brooke Ward and Joel McPhail will preserve ownership of 51% of the company.
START UP SUMMARY
COMPANY LOCATIONS AND FACILITIES
The Laundry Room will open its first location in Brandon, Manitoba on the corner of Victoria Avenue and 34th Street, a location formerly occupied by Brandon Turbo. An additional two locations will be designed and distributed in Southern Manitoba over the preceding three years including locations in Virden, Manitoba and Portage la Prairie, Manitoba. The location in Brandon, Manitoba will remain company headquarters and occupy the offices of our executives.
The demographic and physical requirement for The Laundry Room locations: High traffic and easily accessible on either side.
Visible from roadway.
Established retail shops or business locations in the general vicinity. A combination of apartment complexes and residential areas in the general vicinity.
PRODUCTS
The Laundry Room offers its customers the opportunity to utilize or enjoy the output of the most superior, state of the art laundry machines the industry has to offer. Additionally, The Laundry Room will provide on-site retail cleaning and laundry products for one-time and household use.
PRODUCT DESCRIPTION
CUSTOMER USE:
Coin Laundry:
The Laundry Room utilizes 20 IPSO Washers and 16 IPSO Dryers with capacities ranging from 14lbs-75lbs. The attractive stainless steel exterior is complimentary to the heavy duty motors, eco-friendly water-preserving emissions and a seal system to enhance cylinder stability considered to be the best-crafted in the world.
In keeping with todays growth of modern technology, The Laundry Room will offer a series of machines equipped with a card system as an alternative to coin fuelled machines. The card system will accept all forms of payment including Visa, Mastercard, American Express, Debit and an internal, reusable and refillable customer card.
PROFESSIONAL USE:
Commercial Laundry:
For it's professional cleaning services, The Laundry Room will utilize a series of industrial sized IPSO Washers and Dryers with capacities ranging from 12lbs to 165lbs. These laundry machines will be used exclusively by fully trained company representatives and utilize the same technology as the Coin Laundry appliances in a much larger size and without the option of payment.
Folders and Feeders:
The Laundry Room will also possess one IPSO Folder (folds clothing) and one IPSO Flatwork Ironer (irons clothing) to minimize costs allocated to labor and energy.
Operating using technologically advanced, professional, attractive, eco-friendly, easy to use IPSO equipment will ensure the highest quality output and efficient production levels.
PRODUCTS:
The Laundry Room will provide on-site retail cleaning and laundry products for one-time and household use. The Laundry Room plans to capitalize on the ongoing consumer trend of purchasing eco-friendly products free of harsh chemicals and dyes. A strategic alliance with Progressive Sanitation, developed through a long-standing personal relationship with both companies' Owner/Operator(s), will allow each to capitalize on product sales. An agreement that Progressive Sanitation will be the exclusive supplier of one-time and household products for re-sale at all The Laundry Room locations and all product labels must display BOTH company names.
Products available on site in one-time use format include: Eco-Max Lavender Laundry Wash (Liquid), Eco-Max Dryer Sheets, Eco-Max Laundry Detergent (Powder) and Eco-Max Fabric Softener.
Products available in household use format include: {LAUNDRY} Eco-Max Lavender Laundry Wash (Liquid), Eco-Max Dryer Sheets, Eco-Max Laundry Detergent (Powder) and Eco-Max Fabric Softener {KITCHEN} Eco-Max Liquid Dish Detergent and Eco-Max Dishwasher Soap {BATHROOM} Eco-Max Ultra Bathroom Cleaner, Eco-Max Ultra Odour Neutralizer {GENERAL} Eco-Max All Purpose Cleaner, Eco-Max Glass Cleaner Bottle.
COMPETITIVE COMPARISON
The Laundry Room acknowledges itself as a competitive contributor in the laundry and cleaning industry. Contrarily, it also recognizes that rivalry for its products range from dry cleaning service to general wash/dry service to repairs and alterations to cleaning products.
The Laundry Rooms main competitors will come in four forms:
Locally Owned Dry Cleaning Facilities.
National brand Dry Cleaning Facilities.
Locally Owned Laundromats.
On-site Apartment/Condominium Complex Coin-Operated Laundry Facilities.
The Laundry Rooms secondary competitors will come in three forms: Locally Owned/Operated Tailors.
Department Stores offering cleaning products.
Locally Owned General Stores offering cleaning products.
Characteristics that set apart The Laundry Room from is competitors are: Impeccable customer service
Free on-site Wi-FI.
State of the art equipment.
Clean, inviting atmosphere.
One-time-use and household products available for purchase.
Customer loyalty cards, senior, student and corporate discounts. 48 hour guarantee.
Pick-up and Delivery service. (provided free for any work orders equivalent to or exceeding 20lbs) Full-service facility including wash, dry, fold, press, dry cleaning and repairs/alterations.
SOURCING
The Laundry Room purchases it's IPSO equipment and all machine fulfillment equipment exclusively from Coinamatic Commercial Laundry, a subsidiary of WASH Multifamily Laundry Systems. Retail products and fulfillment products are purchased from Progressive Sanitation.
The Laundry Rooms technological equipment (POS system) and "free to the customer" internet connectivity is provided by Westman Communications Group.
The Laundry Room's state of the art, user and eco-friendly is reliant on technology and proper maintenance. Ron's Appliance Service has been contracted to upkeep all machines for the entirety of the first year of business to ensure customer satisfaction.
The Laundry Room will be equipped with 24 hour surveillance video monitored by Allen Leigh Security and Communications.
TECHNOLOGY
The Laundry Room projects to obtain a competitive advantage, improve operations and capitalize on the growing consumer trend of technology.
The Laundry Room will offer a series of machines equipped with a card system as an alternative to coin fuelled machines. The card system will accept all forms of payment including Visa, Mastercard, American Express, Debit and an internal, reusable and refillable customer card. This will create a safer environment for customers and employees, allows the balance of the customer card to travel with the cardholder to various The Laundry Room locations, creates customer loyalty and permits the business to add bonus dollars or a "kick back" when a customer adds more cash. This innovative customer card technology is beneficial internally by tracking total sales, times and dates of each individual machine; minimizing the coins to collect and process decreasing labor costs; providing electronic accountability and eliminates the chance of theft or vandalism.
The Laundry Room will also offer self-use laundromat customers the access to free Wi-Fi while utilizing the facility, anticipating the conclusion of their laundry session.
FUTURE PRODUCTS
Seasonally, The Laundry Room will offer products, services and discounts that will increase sales and also meet consumer demands. Offering discounts in the summer months on utilizing dryers (as more customers will opt to hang dry) and to students in the Fall to build brand loyalty and gain market share. Subsidizing holiday themed scented products with florals and beach inspired scents during the summer months and offering seasonal dependent products when in demand including automobile detailing packages when weather permits.
The Laundry Room's central focus will be to utilize customer feedback and trends to cater to the product and service demands of the consumer and provide it accordingly.
In addition, once basic operational kinks have been subsidized and revenue is steady, The Laundry Room will maximize their profits by providing customers with access to multiple services to utilize our buildings space to its fullest potential. The future possibility of offering food and beverage vending machines, renting mailboxes and game arcades demand little increase to overhead as all property and rent expenses are already paid for. Our customers and their experience will benefit and enjoy capitalizing on several services located in one convenient building.
To provide community camaraderie, build customer base and fulfil it's social responsibility The Laundry Room projects to host quarterly, season tailored charitable events including music concerts, hot chocolate giveaways and BBQ following the first year of business. A portion of proceeds from events will be donated to a local charity, making strides to improve the community.
MARKET ANALYSIS SUMMARY
Type A: Middle to Lower Class Individual(s) without the resources of an adequate laundry facility. Generally this customer will occupy apartment complexes, government housing or condominium type housing. It will include home owners, families and individuals with inadequate laundry facilities without the financial resources to upgrade or replace faulty equipment immediately. These consumers will also include low-disposable income, physically capable senior citizens in community housing and students residing in dorms or rental properties.
Type B: Middle to Upper Class Individual(s) who possesses more money than time, an advanced taste and high demand for exceptional customer service but no time to complete routine laundry tasks. This will include home owners, families and individuals who have high disposable income and require
laundering assistance but fail to allocate the time commitment in busy work, family or life schedules.
MARKET SEGMENTATION
The Laundry Room will target two separate segments: Lower to Middle Class Individual(s) without the resources of an adequate laundry facility and Middle to Upper Class Individual(s) possessing more money than time. The Laundry Room has designed two distinct delivery plans to penetrate these markets. For the Lower to Middle Class, we offer a clean, affordable, conveniently located and well maintained state of the art self-service laundry facility and for the Middle to Upper Class, a professional laundry service with convenient pick up and delivery option.
The Laundry Room will penetrate the Lower to Middle Class market by offering self-service, coin and card operated, state of the art laundry machines in a clean, safe, customer service oriented environment. Coupons, loyalty discounts/cards and daily promotions will appeal to this financially moderate and conscious market.
This unique and routine Middle to Upper Class market will continue visiting The Laundry Room because of it's high quality output and impeccable customer service and become a devoted return customer. The Laundry Room will penetrate this market by offering professional laundry services, pick up and drop off work order delivery options and corporate discounts.
MARKET TRENDS
Laundromats have been established for over 50 years and generally occupy retail space on long-term leases of approximately 10-25 years and product consistent cash flow over the duration of the lease. Laundromats thrive in periods of inflation and recession. During recession, when home ownership decreases, the coin operated laundry market expands as more individuals are unable to repair, replace or purchase new washers and dryers or as they relocate to apartment housing with less than adequate or non existent laundry facilities or services. During inflation when the market size grows in proportion to the increase of population. Like food and shelter, clean
clothing is a necessity of life and laundromats provide a basic health service for millions of Canadians every year.
MARKET GROWTH
According to available consumer statistics, the demand for professional and self-service laundromats is on the rise. Industry and market growth is based on the demographics os population density, population mix and population income. The more concentrated the population in the environment, the greater the demand for profession and self-service laundry facilities. Self-service laundry facilities are primarily used by household renters, the fastest growing segment in the country. As of the 2011 Canadian Census, 24.4% of Brandon, Manitoba's 21,950 households were renter occupied with an 11% population increase from the 2006 Canadian Census. Professional laundry services for residential individuals generally tailor toward wealthy one-income families or affluent two-income families. Compared to provincial averages, Brandon, MB has a $2,500 (2.54%) higher after-tax family income as of 2005 proving that Brandon has the market for a company offering professional services at affordable prices.
MARKET NEEDS
The market for our selection of self-use coin operated machines is derived of individuals without the resources of an adequate laundry facility and possess a limited disposable income. The demand for laundry services without the financial resources of outsourcing work, purchasing, repairing or replacing machines gives The Laundry Room's self-service facilities, a budget savvy solution, the opportunity to fulfill this market need.
The market for our selection of professional services is derived of individuals who have limited time, demand exceptional customer service and who possess high disposable income. The opportunity to devote valuable time to mundane tasks such as laundry is far and few between, but the demand for quality service and the necessity of practicing good personal hygiene remains active in their overloaded schedules.
INDUSTRY ANALYSIS
As the population of Canada grows with it's economy, the number of renters, a significant contributor to our revenue, is likely to grow as well. Other social phenomena, like the commonness of double income families, suggest that convenient services offered by The Laundry Room will continue to increase in popularity as working households have less time to attend to essential tasks like laundry.
It is even becoming more common for individuals with washers and dryers located at home to utilize self-service or professional full-service laundromats for the sake of convenience. With the regular capacity, generally smaller washing equipment used in homes, it can extend time allocated to laundry. Basically, although the majority of laundromat self-service customers are low to middle income class renters, an increasing number of facilities are tapping into high-income markets by offering convenience; full-service laundering and large, multiple machines.
DISTRIBUTION PATTERNS
The North American delivery process of laundry and coin-operated services reflects laundromats in the past. The consumer enters a mediocrely designed, well maintained and organized environment, engulfed in fresh, clean aromas concealing an elementary "turn-key" business plan model offering products and services at a competitive price. The Laundry Room will mirror some of these aspects however based on our previously outlined Core Values, the customers positive experience is most essential. Not only greeted by clean, well organized, public Wi-Fi capable, state of the art equipment and modern atmosphere but also a well-trained company representative offering any form of assistance as requested and required.
The Laundry Room will offer a pick up and delivery service (provided free for any work orders equivalent to or exceeding 20lbs) and a professional guarantee of all work orders, no matter the size, will be completed and ready within 48 hours of drop off.
COMPETITION AND BUYING PATTERNS
There are four basic opponents for The Laundry Room's customer segment.
Locally owned dry cleaning facilities, like Brandon Cleaners Ltd. and Brandon Extreme Clean, national brand dry cleaning facilities, like Perth's Service, locally owned laundromats, Glacier Wash and Wheat City Laundry and on-site apartment/condominium coin-operated laundry facilities.
Strengths
Multitude of services offered in one conveniently located, well monitored and maintained modern facility. Well thought out and designed business plan.
Superior well-trained and filtered staff with impeccable customer service. Professional grade equipment with quality output.
Weaknesses
Less experience than already established competitors.
Debt is required to commence business plan.
Opportunities
Contribution and capitalization on a steadily growing industry. Maple Leaf providing job opportunities to individuals immigrating to Canada residing in rental housing without proper laundry facilities. Multitude of services attracts every target market (Upper, middle and lower class) Proper hygiene is a necessity to life providing a constant demand for products and services.
Threats
Possibility of a large franchised business opening and mirroring business model.
MAIN COMPETITORS
When contrasting direct business opponents, we have discovered that there are no other businesses offering the same services and products collectively in the Brandon community. The Laundry Room will be the premiere full-service, including wash, dry, fold, dry cleaning, repairs and alterations, pick-up and delivery, coin operated laundry service in the Westman area. On the contrary, there is still competition from similar laundry service and retail product distributors.
Locally Owned Dry Cleaning Facilities: Brandon Cleaners Ltd., Brandon Extreme Clean, Richmond Dry Cleaners & Laundromat
The Laundry Room has a competitive advantage over these companies due to the following benefits: We are open Monday to Saturday 7am-10pm. Sundays 9am-6pm.
48 hour work order guarantee.
Clean, safe, well designed and maintained facilities.
Various services and products available conveniently in one location. Surveillance cameras to insure customer and employee safety. Loyalty card and referral program.
Eco-friendly products for purchase on-site.
Pick-up and delivery options.
National brand Dry Cleaning Facilities. Perth's Services
The Laundry Room has a competitive advantage over these companies due to the following benefits: We are open Monday to Saturday 7am-10pm. Sundays 9am-6pm.
48 hour work order guarantee.
Ability to have control and creativity without the consent of "head office." Revenues from transactions remain within the community.
Surveillance cameras to insure customer and employee safety. Loyalty card and referral program.
Eco-friendly products for purchase on-site.
Pick-up and delivery options.
Locally Owned Laundromats. Glacier Wash, Wheat City Laundry, Rosser Laundromat, Princess Laundromat
The Laundry Room has a competitive advantage over these companies due to the following benefits: We are open Monday to Saturday 7am-10pm. Sundays 9am-6pm.
48 hour work order guarantee.
Clean, safe, well designed, and maintained facilities.
Various services and products available conveniently in one location. Surveillance cameras to insure customer and employee safety. Coin-less machine option.
Loyalty card and referral program.
Eco-friendly products for purchase on-site.
Pick up and delivery options.
On-site Apartment/Condominium Complex Coin-Operated Laundry Facilities.
The Laundry Room has a competitive advantage over these facilities due to the following benefits: Clean, safe, well designed, and maintained facilities.
Surveillance cameras to insure customer and employee safety. Coin-less machine option.
Loyalty card and referral program.
Eco-friendly products for purchase on-site.
Utilizing multiple machines for multiple loads is encouraged and lowers laundry time.
The Laundry Room will consistently appraise its equipment, procedures, building layouts, company representatives and consumer products to remain a dominant commander in the laundry service industry.
STRATEGY AND IMPLEMENTATION SUMMARY
STRATEGY PYRAMID
The Laundry Room's basic strategy is to convey to the community that they are dedicated to consistent customer satisfaction and loyalty by providing reliable machines and furnishing a regularly maintained clean, attractive atmosphere at a competitive price and value. To implement this strategy, The Laundry Room location will be easily accessible, visible and recognizable. All products and services will be priced accordingly to stay comparable with competitors and enforcing a professional training program for all production and customer service representatives to ensure The Laundry Room employees are the most accommodating in the industry. Through coupons, print advertisements, word of mouth and cleverly and ethically maintained social media, The Laundry Room will promote the series of products and services offered and communicate openly with current and potential customers about new promotions, discount programs, events, products and services available.
By implementing this strategy, The Laundry Room has:
Offered the consumer a superior product at a competitive, comparable price. Offered the consumer a convenient, time-efficient method for acquiring their requested service or product. Displayed how The Laundry Room acknowledges and value consumer loyalty by offering discounts to return customers and referral programs.
VALUE PROPOSITION
The Laundry Room will over products and services in the most efficient and convenient methods available, either through their convenient, spacious, highly-visible locations, multiple coin-less or coin-operated, state of the art machines or convenient pick up and delivery services.
This value proposition sets The Laundry Room apart from business opponents allowing patrons to avoid: Parking lot overload.
Long wait times.
Limited machine availability.
Cluttered, unkept, poorly designed machine layout.
This value proposition sets The Laundry Room apart from business opponents allowing patrons to capitalize on: A safe, well monitored atmosphere.
Extra time provided by pick up and delivery service.
Money saved by utilizing customer loyalty programs and discounts.
The Laundry Room is also spotlighting on offering a compelling asset to the community by distributing locally produced eco-friendly one-time-use and household cleaning products for purchase on-site.
COMPETITIVE EDGE
The Laundry Room's competitive edge is basic, we offer a superior output through state of the art self-service machines, expert laundry services and professional grade eco-friendly products at a competitive price in a modern, conveniently located atmosphere that efficiently saves valuable consumer
time and money.
MARKETING STRATEGY
In its introductory months, The Laundry Room will conveniently locate its premiere location in an area of high traffic and visibility that is easily accessible. Victoria Avenue and 34th Street (former location of Brandon Turbo) is the area of choice, located in highly visible, commuter courses and in close proximity to established businesses, upper and middle class residential housing, university dorms, senior citizen housing centres, two of Brandon's most profitable hotels and a series of apartment complexes. The Laundry Room locations will be unique and easily identifiable, establishing a creative branding and marketing feature.
The Laundry Room will be executing a low cost marketing strategy and take advantage of low cost methods of advertisements including good will, word of mouth, social media including Facebook and Twitter and community message boards such as eBrandon.
It's been shown that the best method of advertising is through word-of-mouth. No major newspaper ad campaign is forecasted. However, we will run weekly specials. In addition, we shall have an incentive program for referrals. The customer who encouraged the new customer to utilize our services rewarded with a FREE service of their choice or 50% off a retail product, and the referee will receive an introductory gift of a FREE wash. In addition, we will ensure a clean environment, reliable machines, and friendly, prompt services.
We will include loyalty programs and discounts including a BUY 5 GET ONE FREE card to reward routine customers with a lower price. This will benefit our company by building long term customers and maximizing lifetime revenue of our consumers. Several drawbacks of the loyalty card include, the constant return to ground zero with no built up financial incentive to return, only price sensitive consumers will carry it loyally and present during each purchase, it segments locals and newcomers and it’s a volume discount for items purchased over time and not all at once. Which is why we will not only offer the physical cards but also the option of utilizing the FREE online application that replaces physical cards called "Punch crowd" to entice technologically, eco-friendly consumers. The Laundry Room will also offer 10% Student and Senior discounts as well as FREE pick up and delivery for any laundry services meeting or exceeding 20lbs.
PROMOTION STRATEGY
The long term goal is to achieve enough market leverage and consumer brand loyalty to the company to expand into other regions and attract attention from possible angel investors. To ensure this, The Laundry Room requires:
A commitment to Public Relation services of $1250.00 per fiscal quarter for the first year of business to establish community awareness and create and design product and service information print advertisement mail-outs. It is projected that the grand opening, high traffic, highly visible location, utilization of free advertising methods such as social media and community message boards and word-of-mouth promotion will generate a significant amount of positive exposure and possibly diminish or abolish the requirements for a Public Relation Professional internal employment opportunity.
To provide community camaraderie, build customer base and fulfil it's social responsibility The Laundry Room projects to host quarterly, season tailored charitable events including music concerts, hot chocolate giveaways and BBQ following the first year of business. A portion of proceeds from events will be donated to a local charity, making strides to improve the community. This is projected to commence following the first fiscal year of business, re-evaluation of profits/losses and customer traffic may expedite these community events.
MARKETING PROGRAMS
HIGHLY VISIBLE, RECOGNIZABLE BUILDING:
The Laundry Room is using retro inspired, modern buildings for it's on-site locations equipt with state of the art, stainless steel equipment. We have worked closely with our contractor, Geoff Gregoire of Contractor's Corner,
to develop a recognizable structure that is fully functional and conveniently located for consumers.
RECOGNIZABLE DELIVERY VEHICLE:
The pick up and delivery vehicle is a crucial marketing tool. Similar to the on-site locations, the delivery vehicle will be easy to recognize and with an unmistakably similar design. The Laundry Room will schedule routine pick up (AM hours) and delivery (PM hours) with basic consumers and predetermined alliances including hospitals, retirement homes, businesses, schools and community event planners. We will utilize an eco-friendly hybrid Ford Escape creatively and tastefully sporting The Laundry Room company logo, location and contact information.
ADVERTISING AND PROMOTION:
In the introductory year, The Laundry Room has allocated a moderate advertising and promotion allowance beginning in the first month of operations following the Grand Opening. As a company, we understand that a portion of graphic design, publicity and promotion is best left to professionals, so majority of advertising budgets will be spent on an external company, Direct Marketing to creatively and effectively design websites, brochures, logos and other print advertising. In the first fiscal year of business the word-of mouth-advertising in conjunction with our customer loyalty/referral program and utilization of free technological advertising like social media and community message boards will be strong consumer motivators.
POSITIONING STATEMENT
PRICING STRATEGY
The Laundry Room product and service pricing will be competitive and comparable with similar industry national brand companies and locally owned businesses.
SALES STRATEGY
A series of sales strategies will be implemented including advertising daily
and weekly specials on high-profit and high-return products and services on site. The highly qualified customer representatives will also distribute coupons, loyalty cards, product samples and discounts to customers who purchase products and services as a "kick-back." The Laundry Room personnel will also use the practice of suggestive sales techniques suggesting services to improve quality of life and save time or products tailored towards customer needs.
SALES FORECAST
SALES PROGRAMS
LOYALTY PROGRAM:
REFILLABLE COMPANY PAYMENT CARDS:
COUPONS:
CHAMBER OF COMMERCE:
For the purpose of selling the products and services and for active community contribution purposes, The Laundry Room will become an active member of the local Chamber of Commerce. The partnership and publicity the organization offers is exceptional along with the business contacts and probability of generating strategic alliances through constant communication with members at Chamber of Commerce hosted events.
STRATEGIC ALLIANCES
MILESTONES
Acting as a financial budget would, the milestone projection outlines pivotal dates in the company timeline. This timeline includes the introduction of the first and subsequent drive-thrus and the mobile cafes. TDG's milestone table also identifies the break-even month and other key events that will determine our ongoing company success.
MANAGEMENT SUMMARY
In the introductory months of business, there is zero intention to operate The Laundry Room utilizing a top-heavy organizational structure that diminishes profits and complicates internal communication. TDG will operate under a significantly flat organizational chart. Overhead for management personnel will be modest and all senior managers will act as production employees.
PERSONNEL PLAN
There will be one Production Worker on duty at all times during all operating hours acting as a Professional Laundry Service Provider who's employee responsibilities will include but are not limited to washing, drying, dry cleaning, folding, and pressing incoming work orders and all repairs and alterations. The current salary for the two existing full-time (40 hr/wk) personnel is $910 and part-time (25 hr/wk) personnel is $568.75. With added duties, longevity of job position and increased traffic re-evaluation to increase salaries is reasonable.
There will be one Customer Service Representative on duty during all operating hours acting as an Attendant/Cashier/Retailer whose employee responsibilities will include but are not limited to store and basic machine maintenance, all customer interaction internally and externally and daily business transactions. They will assist the laundromat production worker with completing work orders including washing, drying, folding and pressing as time and work load permits. The current salary for the two existing full-time (40 hr/wk) personnel is $820 (40 hours X 2 weeks = 80 hours X $10.25/hr) bi-weekly and part time (25 hr/wk) personnel is $512.50 (25 hours X 2 weeks X $10.25/hr). With added duties, longevity of job position and increased traffic re-evaluation to increase salaries is reasonable.
As for mechanical machine maintenance, this will be outsourced to Ron's Appliance Service as an on-call, locally owned repair service. Ron's Appliance Service is known in the Westman area for their quick and reliable output. Generally, they service within the day. It is estimated to cost approximately _____ per month per maintenance.
FINANCIAL PLAN AND PROJECTIONS
The Laundry Room's financial layout is quite reassuring. Since it is practicing a cash business with no receivables, however the introductory is generally more than majority of start-ups. The procedure is labor demanding with many services available in one location and The Laundry Room identifies that skilled talent and modern, state of the art buildings and equipment are a necessity. The financial and time investment in its labourers, locations and equipment will be the differentiating factor between The Laundry Room and it's competitors. For the purpose of this business plan template, the investments of equipment and locations are financed. There will be minimal product inventory kept on hand to take advantage of limited space and price drops in supplies and to discover consumer trends.
Business Plan Template: The Laundry Room. (2016, Mar 01). Retrieved from https://studymoose.com/business-plan-template-the-laundry-room-essay
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