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JEDZ Laundry Hub Business Plan.docx - JEDZ Laundromat Hub...

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JEDZ Laundromat HubAPPLICATION SUMMARYName of businessExtraFresh Laundromat CCForm of businessClose Corporation CCNature of businessDry cleaning and laundry services entityIndustry sectorServices SectorRegistration dateSeptember / 20XYRegistration number20XY/0000XX/YYBusiness LocationRustenburg, South AfricaContact details073 66XX XXXBusiness phase (life cycle)Start upBusiness ownershipAnnie 50%, Nikiwe 50%ProvinceNorth West ProvincePotential number ofemployees8Funding requirementsR79,500Source of fundingBank loan (R68,500), bank overdraft (R11,000) and owners’ contribution (washingequipment)Application of fundsFinance capital expenditure and working capital requirements of ExtraFresh LaundromatServicesProposed securityCollateral on fixed assets and Khula Credit Guarantee SchemeSource of loan repaymentThe positive cash flows resulting from ExtraFresh Laundromat CC will be the source offunds to repay the loanOwn contributionOwners will contribute washing equipmentCurrent bankersStandard BankEXECUTIVE SUMMARYBUSINESS OVERVIEWExtraFresh Laundromat CC is a start up business venture that was formally registered in September201X. The business was initiated by two phenomenon and ambitious women, Annie and Nikiwe. Theyintend to specialise in the provision of dry cleaning and laundry services. Their services will encompassall laundry care and cleaning value based activities, namely; dry cleaning, laundry care, drying,
pressing and folding. This exciting business venture will be based in the heart of Rustenburg, SouthAfrica.THE BUSINESS OPPORTUNITYAt present, some of the laundry service providers in Rustenburg are overwhelmed with the number ofclients. This essentially implies that the demand for laundry services is more than the supply. Most ofthe laundry businesses ‘mass market’ their services and do not actively cater for a specific market.Some have found themselves suffering losses owing to the fact that they do not have sufficientcapacity and other necessary facilities. There are some instances where clients are turned away orsimply told to collect their laundry after a number of days. This is as a result of existing businessesbeing under capacity. The shortfalls in terms of laundry services in Rustenburg opens greatopportunities for ventures such as ExtraFresh Laundromat to canvass.The founding members of ExtraFresh Laundromat have been informally working in the laundryindustry for more than 5 years and have noted the gaps in the market. The business will not copy whatthe others are doing but will offer its services in a unique and professional manner.EXECUTIVE SUMMARY (Continued)THE MARKETExtraFresh Laundromat will target the corporate market segment. The business will offer its services tohospitality based entities. These will encompass lodges, guest houses and bed and breakfast entities.

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