Executive Summary for Commercial Laundry Service Business Plan
Are you interested in writing an executive summary for a laundry business? Laundry business is big business! This is because people are becoming increasingly busy and therefore have lesser time to do other equally important things like washing their clothes. For others, it may just be a matter of choice, as they might prefer taking their clothes to a laundry shop to clean them up. Whatever the case, there is a growing number of people seeking the services of the laundry man. We will focus on the laundry business with special attention paid to the laundry business plan executive summary which is an integral part of the business plan.
But why focus only on the executive summary section of the business plan? It is because of the importance attached to the executive summary by business experts and finance sources or investors. Getting it right in the executive summary section will translate into writing a good business plan that will likely impact your laundry business positively.
As the name suggests, the executive summary gives a summarized view of all the important components of the business plan. This is the section which first attracts the attention of investors as it reveals if the business is feasible or not. You may want to take your time in writing your laundry business plan executive summary as it can either determine if your business gets the much needed financial lifeline it needs or not.
A laundry business plan executive summary sample will shortly follow, and the reason for writing the sample is to give you the entrepreneur detailed guidance on what a good laundry business plan executive summary should look like. You would then be able to use this as a guide in writing your own executive summary.
The Executive Summary
Exclusive Laundry is a laundry business that professionally handles laundry services to clients of all age groups. Located in Beverly Hills’ affluent neighbourhood, our services will be top notch and handled by the very best hands in the laundry business industry. We are much aware of the high taste of our potential clients, and are willing and ready to satisfy the needs of our clients through the provision of world class laundry services comparable to any other.
We are well aware of the competition we are likely to face from other laundry businesses; hence in order to gain a fair share of the market size, we will add a variety of innovative services which will be aimed at attracting patronage. To champion this innovation is our research and development department who will constantly research on better ways of satisfying our clients through finding out the preferences of these clients.
The Exclusive Laundry was founded by Mr. Bill Van Gough who himself has had vast experience setting up successful businesses across the West and East Coasts of America. This immense experience has been brought to bear on this business as he has also reached out to fellow professionals Jane Curnow and Trisha Kyle to help in drafting the technical aspects of the business.
The funding for this business will come from 2 sources which include a personal savings of $300,000 put together by Mr. Van Gough which has been kept solely for this project. The other half of the savings which is the major part and amounting to $500,000 will be sourced through a debt financing arrangement with reputable financial institutions at low interest rates.
At Exclusive Laundries, our mission is to be among America’s foremost Laundromats 15 years from the date of commencement of business operations. To make this a reality, 5 years from the start of business operations, we will franchise our business, but not before making it very attractive for prospective franchisees or investors. Our franchising strategy will propel our business forward and give it the much needed national presence which is a strong strategy for attracting big money.
While providing superior services to our clients, we will also develop a pricing strategy which will adapt to different conditions to enable our pricing to be very competitive and affordable for all. Our workforce is our pride, and we will invest a substantial part of our resources into developing them through regular training programs to ensure our esteemed clients get only the best services.
We have come up with realistic financial projections that will see our business making impressive gains within our first year. This projection was arrived at by using key market pricing behaviour from the last 5 years within the industry. While this gives a clear picture of possible gains for our business, unforeseen circumstances such as earthquakes and natural disasters were discounted at arriving at our estimations. The table below summarizes our findings;
- First Year $200,000
- Second Year $300,000
- Third Year $580,000
Keys to Success
There are important considerations which must be made if we are to achieve the success we have discussed. These have been highlighted and include the choice of a business location. Our location provides the ideal place for setting up this business, as it is found in an area with less competition and high concentration of residences. The convenience is another plus for our business as it makes it easy to drive in and out, in addition to flexible working hours which are extended to accommodate all client work.
The laundry business plan executive summary provided above has provided all the necessary details which must be included in a well written executive summary. By using this as a guide, you will be able to produce a well written laundry business plan executive summary.