2Who, What, Where & Why?Suds is a Laundrobar & Café, located in the Old PortGreen Laundromat in a Combo Bar & CaféWi-fi & Free ParkingMusic & EntertainmentLocal Espresso & Coffee, Snacks, Sodas & BeerWhy?Maine Weather + Clothing = Half a Year + Trapped in a LaundromatWhy not do it guilt-free and somewhere fun?
3Mission StatementTo provide Portland with clean, green, and affordable laundry services in a comfortable café environment. Suds aims to help customers reclaim their laundry time for themselves in Portland's only laundrobar & café. We offer free Wi-fi and entertainment so our customers can relax, multi-task, socialize, and enjoy locally-sourced coffee, baked goods, snacks & beer while their dirty laundry gets done.
9Competition 15,145 Laundry Patrons Intown Aged 18-45 Competitor LocationsWest & East EndsDowntownNeighborhoods of USMProduct Offering: Identical, Similar, or DissimilarNumber of Competitors in Each Category:Identical = 0, No LaundrobarsSimilar = 1, Green LaundryDissimilar = 10, Not Green
10The Washboard Eco-Laundry StrengthsWeaknessesLimited online presence (bad website, no Facebook, Twitter, Mobi deals, etc.)No Free ParkingLimited Space & High DemandNot Located Central to DowntownNo cafe atmosphereNo Onsite Food or BeveragesWet CleaningWash, Dry & Fold $1/lb.Wi-fiClose to Tavern, Convenience Store & CaféHours Sync with the TavernMember of Portland Buy LocalEstablished Clientele & Commercial Accounts
11Strategy: Product Offering LaundryWith only one competitor to offer a substitute product, Suds can focus on competing with the Washboard Eco-Laundry on:PriceProportion of sales derived from self-service (Washboard’s is split 45% between self service and full service)LocationAmenities: atmosphere, entertainment, in-house beverages and foodsCafé & BarMultiple competitors in the Old Port. Instead of competing head-to-head, we emphasize our unique product offering & co-brand with other local coffee, beer & baked good producers. This does two things:Delivers consistency with our locally produced goods and our commitment to sustainabilityDelivers superior quality at comparable price
12Strategy: OverallBeing a green laundromat and offering only locally produced foods & beverages, Suds maintains its stewardship of our city, state, and the planet. Suds competes not only to turn a profit, but to better the environment and to improve the local economy.Goals:Year 1 Establish a Clientele & Drive Retention Rates HigherYear 2 & BeyondInstall Solar Panels, Wind Turbine – Offset Energy Consumption & Integrate Additional Electronics (Arcade Games, etc.)Increase Stewardship & Green Offering (Sponsorships of Causes)Double Publicity & Marketing Efforts & Create More In-House Events
13Assumptions Portland population: 63,153 44% of the overall Portland population, or 27,787 individuals are between the ages of 18-4415,801 non-family households in Portland28,990 of the units are occupied54.5% of the Portland housing units are occupied by non-family households - our target demographic15,145 potential, overall Laundromat patronsTarget 20% of the potential patrons in Year 1, which is 15,145 x 20% = 3,02978,749 unique visits from patrons annuallyPayrollOpening hours7AM-11PM16hours/dayShift 1Shift 27AM-3PM3PM-11PMHourly PayDaily Payregular staff12$$manager$$Total Daily$Total Weekly$ ,620.00Total Yearly$ ,240.00
14Target Revenue Forecast Assumption 15144 people in portland are our targeted customerTargeted Market Share20%Targeted Customer3029Assume customer visit Suds every two weeks with 1 load of laundryAnnual Growth Rate7%Customer staying in Suds80%Customer buying coffee50%Customer buying food40%Customer buying beerCustomer drops their laundry and leavesYear 1Year 2Year 3RevenueNumber of Visit787498426290160Washing$ ,998.24$ ,228.11$ ,384.08$/loadDrying$ ,998.82$ ,818.74$ ,256.05$Laundry Service$ ,248.97$ ,966.40$ ,224.05$/load(wash-dry-fold)Café$ ,749.26$ ,261.71$ ,160.03$/personFood$ ,599.29$ ,891.24$ ,553.63Beer$Total Revenue$ ,843.56$ ,132.61$ ,801.89