Example:
The [name of business] is a laundromat located in [location of business]. The business will offer services for washing, drying, folding, and ironing clothes for individuals, families, and businesses. This business will be located in the [location of business] neighborhood, which is a densely populated area with a high demand for laundromats. The area is also known for its high proportion of households that do not own a washing machine.
The competition in this market includes [competition 1], [competition 2], and [competition 3]. Customers can choose to do their laundry at home or use one of these businesses.
The financial plan for this business is based on a conservative estimate that it will achieve $50,000 in annual revenue by its first year in operation. The projected growth rate is 10% per year for the next five years.
Example:
Introduction
The world is in a state of transition. People are moving from rural areas to cities, and from cities to megacities. This is a trend that will continue to increase in the coming years. As a result, many people are finding themselves living in densely populated areas and struggling to find ways to do their laundry. [name of business] is here to help these people, by providing a clean, convenient place for them to do their laundry.
Why This Business Is Needed in This Location
[location] is a densely populated area with many people who are looking for a convenient place to do their laundry. As a result, there are many laundromats in this area. However, none of these businesses have made an effort to provide customers with clean and comfortable facilities and attentive service. [name of business] will be different. We will provide our customers with clean facilities and attentive service, so that they can feel comfortable doing their laundry at our facility.
Market Description
[description of market for this business]
Competition Description
The competition in this market is fierce. There are many other businesses that provide laundry services in [location], but none of them provide the same level of cleanliness and service as [name of business].
Example:
[business name] is a laundromat that will be located in [location].
The laundromat will provide its customers with a place to do their laundry. The laundromat will also offer dry cleaning services. In addition to these services, the laundromat will also offer customers the ability to rent DVDs and video games.
The customers of the laundromat will be families, college students, and business people. There are many other laundromats in the area, but none of them offer the combination of services that this laundromat will offer.
The business will make money by charging customers for using its services. The business will also make money by renting DVDs and video games. The business will make money by offering customers discounts on their laundry if they are willing to do their laundry at night when it is less busy.
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