Automated Laundry Service Business Plan PDF

**STUDENT'S NAME: IDOWU AYOMIDE JOSHUA** **MATRIC NUMBER: RUN/BCH/23/14055** **DEPARTMENT: BIOCHEMISTRY** **FACULTY: BASIC MEDICAL SCIENCES** **LEVEL: 200** **PROJECT TOPIC: IDENTIFY A NEW AND INNOVATIVE BUSINESS IDEA SUITABLE FOR YOUR ENVIRONMNET AS AN ENTREPRENEUR. DO A PROPER FEASIBILITY STU...

**STUDENT'S NAME: IDOWU AYOMIDE JOSHUA** **MATRIC NUMBER: RUN/BCH/23/14055** **DEPARTMENT: BIOCHEMISTRY** **FACULTY: BASIC MEDICAL SCIENCES** **LEVEL: 200** **PROJECT TOPIC: IDENTIFY A NEW AND INNOVATIVE BUSINESS IDEA SUITABLE FOR YOUR ENVIRONMNET AS AN ENTREPRENEUR. DO A PROPER FEASIBILITY STUDY TO JUSTIFY ITS VIABILITY** **LECTURER'S NAME: DR. ADEYANJU** **COURSE CODE: ENT 211** **AUTOMATED LAUNDRY SERVICE WITH MOBILE PICKUP AND DELIVERY FEASIBILITY STUDY** **EXECUTIVE SUMMARY** This business aims to provide an automated laundry service with the convenience of mobile pickup and delivery. By integrating modern laundry machines and a user-friendly app, the service will cater to busy individuals who value time and convenience. This business is suitable for urban areas where working professionals and students often struggle to find time for laundry. **BUSINESS DESCRIPTION** The service operates as a tech-driven laundry business where customers schedule pickup and delivery through a mobile app. Clothes are washed, dried, ironed, and delivered back within a specified timeframe. **Key Features:** - Mobile app for scheduling and tracking orders. - Competitive pricing with loyalty discounts. - Eco-friendly detergents and energy-efficient machines. - Express service options for urgent needs. **MARKET ANALYSIS** **[Target Customers:]** Working professionals, students, and busy families in urban areas. **Market Size and Trends** - Urbanization and increased disposable income drive demand for convenience services. - Growing awareness of eco-friendly services enhances the appeal of sustainable practices. **COMPETITOR ANALYSIS** Few direct competitors focus on traditional laundry services with no tech integration. **[Differentiator:]** Mobile app convenience and fast delivery. **ORGANIZATIONAL STRUCTURE** Business Model: Sole proprietorship initially, with plans for partnerships or franchises. **Roles** - Owner/manager to oversee operations. - Delivery personnel for pickup and drop-off. - Laundry staff for operations. **TECHNICAL FEASIBILITY** **Equipment Needed** 1. Industrial washing and drying machines. 2. Eco-friendly detergents. 3. Delivery vehicles or bikes. 4. Mobile app development. **Skills Required** - App development expertise. - Laundry staff trained in handling various fabric types. **FINANCIAL PLAN** **Startup Costs** - Laundry machines: ₦2,000,000 - Mobile app development: ₦1,000,000 - Delivery bikes: ₦600,000 - Miscellaneous (permits, branding, marketing): ₦400,000 - Total: ₦4,000,000 **Revenue Projections** - Average daily orders: 30 - Charge per order: ₦1,000 - Daily revenue: ₦30,000 - Monthly revenue: ₦900,000 **Profitability Analysis** - Monthly operating costs (staff wages, detergent, maintenance): ₦400,000 - Monthly profit: ₦500,000 - Break-even period: 8 months. **OPERATIONAL PLAN** **Day-to-Day Operations** - Pickup and delivery scheduled between 7 AM and 9 PM. - Clothes are sorted, washed, dried, ironed, and packed for delivery. **Supply Chain** Reliable suppliers for detergents and equipment maintenance. **LEGAL AND ENVIRONMENTAL CONSIDERATIONS** **Legal Requirements** - Business registration with the Corporate Affairs Commission (CAC). - Local permits for delivery services. **Environmental Impact** Use of eco-friendly detergents and energy-efficient machines minimizes environmental footprint. **RISK ANALYSIS** **Potential Risks** - Delayed deliveries due to traffic or machine breakdowns. - Competition from low-cost traditional laundries. **Mitigation Strategies** - Build a buffer time for deliveries to account for delays. - Offer loyalty programs and discounts to retain customers. **CONCLUSION AND RECOMMENDATION** The Automated Laundry Service with Mobile Pickup and Delivery is a viable business idea that meets the growing demand for convenience and efficiency in urban areas. With a robust app, eco-friendly practices, and strategic marketing, this business has the potential to be highly profitable within its first year.