Complete final business plan

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. EXECUTIVE SUMMARY This project is about creating a business plan in which we have to mention the overall plan on the identified opportunities. We are developing a business plan on laundry service... s. Doing laundry is one of the works that everyone hates to do it. But they want to wear neat and clean clothes. We are the citizens of Islamabad. We identified that there is a need of laundry service because it is very hard for the citizens of Islamabad to find a maid at a reasonable rate who can do their laundry. The majority of peoples of Islamabad males and females they are the job holders and they do not have enough time to do such work like cleaning and washing. That’s why we are going to start a laundry service with the name of “Laundry king” in which we are going to provide a laundry service at a cheapest rate which is Rs. 2000 of one month, which includes all the facilities of washing, steam pressing, packaging and delivery. There will be no extra pickup and delivery charges. We will provide them laundry services four times in a month. As we have identified the market demand for laundry service is too high, and we will also target the students of hostels as the students of hostel have not enough time to wash out and press their clothes time to time. Females of Islamabad they have rigid routines due to this it is difficult for them to manage all these households. We divided our target market into two parts, our first target market are the females of Islamabad and our second target market are the students of hostels. We picked up the sample and did a survey in Islamabad few sectors ( F. sector, E sector , H sector, G sector and I sector) and we came to know that the demand for laundry service is too high. And our competitive advantage is that there is no direct competitors of our business which can affect the 4 growth but there are some indirect competitors like maids. We are offering the following facilities to our customers Washing, Ironing, packaging and delivery at cheapest rate. We will start this business under partnership act 1932 between two individuals by the name of “Laundry King”. 2. BUSINESS INTRODUCTION: Laundry King is a business of providing the laundry services. We will provide Washing, Cleaning, Drying and the Ironing offered with home pickup and delivery services. And we will choose a centralized location in Islamabad which will be easy for us to reach our customers. There is no need of a retail shop because of our pickup and delivery services. Our Target market is every household and the students of hostels. There is no need of market segmentation strategy because laundry is the need of every person. We will provide the payment facility either at the time of each delivery, or by monthly credit card billing and at the end of every month we will send the bill to each contract customer. Customers may find this service suitable for them and they want to try it and surely it will attract their attention. The main purpose of our business is to provide a quality services to the customers. If they are satisfied with our service quality then they will likely to become our repeat customers. And when we will provide the consistent quality then they will become our loyal customers and they will recommend to others. 2.1. VISION: “The vision is to extend our laundry business nationwide and to provide quality services in all over the Pakistan and to fulfill the need of every household.” 5 2.2. MISSION: “The Mission of Laundry King is to provide cheap laundry services to the peoples. The main purpose is to offer high quality standards and good quality of service and to maintain a good relationship with its customers.” 2.3. GOALS AND OBJECTIVES: Our Goal is to capture the maximum market share by providing the consistent quality service to the customer. The Objective is to provide the quality services at the cheapest rate. Our values are  To be honest with the customers.  To be innovative.  To honor our promises 2.4. CURRENT STATUS OF THE BUSINESS If we check out the scope and demand for this business over the globe it’s a very good business with high profit margin. There are very few business in the world have the same nature and they exists in the Europe and other developed countries so in Pakistan it would be very beneficial for the working women to release their burden. It will also be very helpful for the students who are living in the hostels who don’t have time to wash their clothes. As we are going to start the business but before we have to check out the business status in Islamabad and the students who are living in the hostels. And when we get to know about the citizens of Islamabad, 6 due to the growing number of working parents, changing lifestyles and busy working schedules peoples prefer to outsource their laundry services and it is very difficult for them to wash their winters stuff due to its stuff and beside households. 2.5. HISTORY OF THE BUSINESS: Romans were the first who started the public laundry services. The clothes were washed in tubs or vats by the hands and feet and then the clothes were hung out to dry. The first washing machine was designed in 1782 in the Great Britain by H. Sidgier . It consists of a wooden rod and handle for turning. And the first electric washing machine was introduced in America about 1900. 2.6. GROWTH TENDENCIES AND COMPETITORS: The potential growth of this business is too high because of the huge demand by the working women and the students living in the hostels as well as other commercial businesses such as Hotels, restaurants, hospitals and other businesses which needs laundry on daily basis. And there are no such direct competitors which can affect the growth of our business but there are some indirect competitors like maids and others common laundry. 2.7. BUSINESS INTEGRATION: In our business integration we will use a vertical integration in which we will hire our own employees which will pick up the clothes from every home and also we will provide the delivery services of pressed clothes. 7 3. THE COMPANY: “Laundry King” is a small business which provides peoples the laundry services who loves to wear neat clothes but hate to do it. Laundry King will provide people the quality services which will satisfy their needs and it is dedicated to provide to high customer satisfaction. This business is going to be started by the investment brought by the two partners and by taking debt as well and the mutual partnership contract formed between the two partners. 3.1. Legal Status: Laundry King will be registered under the partnership act 1932, which defines in the following terms:  Share the profits and loss  Equally divide the work  Share responsibilities  Equally Control  Every partner will be present at time of decision making 3.2. Ownership of the company: The company is owned by both partners Mr. Muhammad Ali and Mr. Saif Ali Ishaq and they will share equal profit and they both are equally responsible for the entire debts of the company. Each partner must bring some kind of contribution it can be in the form money or in the form of any other services. 8 3.3. Registration: The registration made for the business by registrar which will include our business name, address of the principal place of business where operations will be conducted, addresses of the partners with their signatures. Following information will be registered in the process: Business Name: “Laundry King” Business Place: I-8 near Faizabad Name Of The Partners: Muhammad Ali And Saif Ali Ishaq 3.4. Features of registering the firm Following are the main features of registering the firm: 3.4.1. Public Trust: It’s a fact that registered companies are more trustworthy then the non-registered companies. It creates a positive image in the mind of the people. 3.4.2. Separate Legal Entity: It means that no other person can uses the co [Show More]

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