Opportunity
Problem
East Meadow long island and the surrounding area are very wealthy. Over 40% of its residents earn more than $70,000 annually. They have nice cars and want them looking nice. There are five different car dealerships within a three-mile radius which will require car washing services for the various fleets. Lastly, there are many different local businesses that have company cars and that require clean appearances. These potential customers require a car wash that meets their needs and fits their budget. We will happily fill that need.
Solution
Soapy Rides will offer three services to customers: exterior cleaning, interior cleaning and detailing. Soapy Rides offers high-quality services at an affordable price.
Market
The market is a great place to start a business. The area is home to over 40% of the $70,000 annual income households. Many of the residents live in the neighborhood and own, lease or lease new cars. They place great emphasis on how their cars look and feel. There are five car dealerships within three miles from the proposed Soapy Rides location.
Competition
East Meadow has one more hand car wash. It is relatively new, and it is trying to compete against automated car washes by offering lower prices. It does not target customers looking for high-quality cleaning.
Why Us
Soapy Rides is offering three services to its customers: exterior, interior, and detailing. Soapy Rides has no true competitors that are trying to offer a high quality service for a reasonable rate.
Expectations
Forecast
Initial financing will come from Mark Deshpande’s personal investment. Cash flow will finance future growth. The company will grow slowly, but Mark will retain full control. It is hoped that in year three the company will be able opening a second facility. It is envisioned that an outside loan or equity funding will be sought at that time.
Financial Highlights for the Year
Financing Needed
Mark Deshpande plans to invest $40,000 in the transformation of the site into a carwash.
No comment yet, add your voice below!