Reference no: EM132011963
The sector taken under consideration for making a business plan is laundry business or dry-cleaning business, which is a service based profitable venture (C. Barrow, P. Barrow & Brown, 2012). It may be easy to start a laundry business, but a proper business plan is required to make it successful in the presence of large number of competitors (Knowles & Castillo,2010).
The financial resources are needed for registering the business, renting or leasing a place, acquiring machineries, salaries for employees, maintenance and handling costs and other taxes and bills. Thus, sixty percent of the funds can be borrowed from a bank or financial institution and the rest can be invested from equity capital.
The target market of the business is the hostel and college students. Home pickup and home delivery services will be rendered that would save their time. This service will be nominally charged keeping the affordability of the students in mind. The service price will vary according to the number of clothes being received from customers, as it would determine the use of resources and equipment.
The laundry facility can be established near the college hostels in order to provide services to the students leaving away from their homes. Some of the necessary machineries required are dryers, washers, pressing irons, detergents, laundry baskets and carts, vending machines and coin machines.
The entrepreneur is solely responsible for carrying out the decision-making process along with the suggestions taken from the two or three employees handling the daily operations. The employees are well aware of the needs and demands of the customers, thus they will be able to provide valuable feedback.
Barrow, C., Barrow, P., & Brown, R. (2012). The business plan workbook. London: Kogan Page Publishers.
Knowles, R. A., & Castillo, C. (2010). Small business: An entrepreneur's plan. Boston: Cengage Learning.
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