In recent times, the chore of doing our laundry has become quite tedious and time-consuming. For some of us, our job demands so much from us that we would rather come home to rest than do the laundry. To some persons like me, doing the laundry is a huge headache; a chore I will so willingly pass on to other people.
For these reasons, the laundry business has become another profitable venture in Nigeria… And guess what? To start the business is not as capital challenging as we all think it is. You can actually start the business in the comfort of your home with just the basic needed equipment and materials. Wait… before you run off to startup your own dry cleaning business, here are a few factors you have to put into consideration first.
The proposed business is to enhance the proprietor to know more on his proposed business project. It enumerates the financial viability, economic desirability and technical feasibility of the project.
- To know the total cost of establishing a laundry business
- To determine market structure
- To determine suitable financial plan
- To know the strategies of meeting its target customer
- To evaluate method of satisfying its customer and maximize profit as well
- The proprietor
NAME: MR BEN AGBOBO
ADDRESS: OTUKPA, MAKURDI.
- Business laundry
- Project financial plan
A total of ₦50,000 has been estimated by the proprietor for the smooth running of the business.
The rate of ₦10,000 is expected to be generated at the end of each cycle as profit after loss expenditure.
The project cash flow shows a positive net profit in the first, second, and third cycles respectively.
The project is justified because it makes positive returns to the proprietor and brings satisfaction to its customers.
The business is solely sponsored and managed by the proprietor and the few staffs he employed.
There is no visible risk in the business because it will be situated in a large commercial city and the major work involved in the business will be manually operated for a start.
The purpose of the business is to provide quality laundry services to the people of Otukpa and its environs as a whole, all year round.
The ready market does exist all year round because there are few competitors in the line of business.
The study reveals that the total number of four persons including the proprietor
The environment has been put into consideration which includes an available building for the washing activities, large compound for drying of clothes. The market has been surveyed and lifestyle of the people in the area has been accessed at all seasons and security for the properties and customers material and cloths has been into consideration.
Since the business will be solely on a manual level, for now, the following are required:
- Sources of water
- Detergents and bar soap
- Your hands
- Iron (both electric and local)
- Ironing board
- Polythenes for bagging
The project will be done through the joint effort of the available personnel’s since it is not a large scale business that will need the aid of bigger machinery and equipment.
It will only include washing of the clothes by the staff with their hands, sun drying, ironing and other little necessities.
A total of ₦50,000 has been estimated for the smooth running of the business.
The total sales for the first three cycles are:
|Week 1||Week 2||Week 3|
|LESS COST OF GOODS||(1000)||(1000)||(1000)|
|LESS STAFFS SALARY||(10,000)||(10,000)||(10,000)|
PROJECTED PROFIT AND LOSS
During the first three cycles, net profit of 9,000 each realized from the business.
From the above analysis, it has been revealed that any person who wishes to go into laundry business stands the chance of making 15% from the business per week.