Business Plan for Laundrifico! Inc.

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Laundrifico! Inc., Corporation Blk- 25 Lot- 24 Edelweiss St., Gardenia Valley, Molino, Bacoor, Cavite +63 927 789 96 54 Ernesto L. dela Fuente Jr., Chief Executive Officer/President Francis A. Orillos, Chief Financial Officer/Executive Treasurer Nino Adrian H. Sun, Executive Secretary

Revised: February 20, 2012

Table of Contents

I. II. III. IV. V. VI. VII. VIII.

Executive Summary Business Mission and Strategy Sources and Uses of Funds Products Markets and Competition Marketing Management Financial Data

3 5 7 9 10 12 14 16

I. Market

EXECUTIVE SUMMARY

During the initial phase, Laundrifico! Inc.s will establish a flagship laundry shop named Laundry Express! that targets the market of the households and the working middle class that will benefit from a fast, convenient and quality laundry cleaning service within the immediate area of Lessandra Camella Homes, Molino III, Bacoor, Cavite. When profits and cash flow allow, we will add market segmentations that has the biggest market potential, especially commercial establishments like hospitals, malls and local businesses, expand and establish laundry shops to other areas and align our services and differentiate our products to stimulate further growth. Business Description
Laundrifico! Inc. Is a small business registered as a corporation under the auspices of the Corporation Code of the Philippines. Our business name will be Laundrifico! Inc. but for our initial branch, we will go by our brand name of Laundry Express. Laundrifico! Inc. s primary purpose is to build laundry shops that provides fast, convenient and quality service to household and commercial establishments within the local community where the shop is located. Our secondary purpose is to build community, employee and shareholder wealth by giving back to our stakeholders and building the business with integrity, commitment and leadership with an eye for the long term.

Products/Services Laundrifico! Inc.s flagship laundry shop Laundry Express! will offer basic household laundry services at the start of operations but once cash flow and profits allow, we will bid for laundry accounts for local business establishments within the Molino locality and expand. We offer a wide range of services such as: Washing Drying Folding Dry cleaning Wet cleaning The sale of household and commercial laundry cleaning supplies Any similar or related services thereto

Management The business will be managed by Ernesto L. dela Fuente Jr., Founder/Incorporator/Chief Executive Officer/President, who has leadership and management skills as well as an innovative and creative character. With the help of his business partners, namely: Francis Orillos, Co- founder/Incorporator/Chief Financial Officer/Executive Treasurer and Nino Adrian H. Sun, Cofounder/Incorporator/Executive Secretary, all of whom are dedicated, committed and has industrial and creative characters, all of whom will run, manage and operate the business to its full potential. Financing Needs Laundrifico! Inc. needs Php400,000 in start up capital to cover start- up costs, rent (deposits and month in advance payments), supplies, site renovation, marketing materials, signages, boards, initial employee salaries, purchase necessary equipment, and provide working capital until the business can support itself from stable cash flow. Financing will be acquired through investor contacts and the sale of shares of stock at a premium.

II.

BUSINESS MISSION AND STRATEGY

Statement of Purpose/Mission
The purpose of our existence is to provide quality service to our customers, growth to our employees and wealth to our shareholders.

Vision
Our vision to place a Laundrifico! Inc. laundry shop in every mall, community and city.

Description of the Business The name of the business is Laundrifico! Inc. It is set - up as a stock corporation registered under the Corporation Code of the Philippines. Our flagship laundry shop will be located on the newly built Lessandra Camella Homes Subdivision located in Molino Road, a major artery for traffic in and out of Cavite. It is on the preregistration stage as of February 20,2012. Strategic Elements We realized that in order to be competitive in the laundry service industry, our business should leverage strategies that will set us apart from the competition. Laundrifico! Inc.s business strategy embodies several key elements: Quality laundry system We will create a top of the line and quality laundry system in order to gain repeat customer confidence. We will standardize our laundry processes and train our employees to achieve the level of excellence that we are going to have. We will develop the idea of the 30 second service, with the help of time- motion studies and Pareto principles, we will try to crunch a service from the desk to the door, so that customers will not have to wait. Location and access Site: Laundrifico! Inc.s flagship shop will be located on the newly built Lessandra Camella Homes Subdivision located in Molino Road, a major artery for traffic in and out of Cavite. The site is located near a school and will front Molino Road. It is surrounded by three other minor subdivisions. Stores near the site are a convenience store, a water supply store, computer stores and a small call centre. The site will leverage maximum potential growth in the early stages of the business. A membership program that will cater to students and senior citizens We will launch a discount program that will cater to students and senior citizens alike to tap this existing potential market.
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An incentive program for referrals Those customers who refer someone else to the store will be rewarded with two free kilos of wash, and the referee will receive an introductory gift of a free kilo. A laundry service program that will suit your every laundry needs Laundry services that we will offer will include folding, drying, dry cleaning, wet washing, dry washing, one day laundry processing, daily on- house pick-up and delivery schedules*, in- house/on- call pick-up and delivery and retail household laundry cleaning products offerings. Personalized customer service and reputation
We will leverage relationship and perception management to maintain repeat customers and gain new clients.

*Initially available for those living within the vicinity. We will expand these services once profit and cash flow allow with the
acquisition of delivery vehicles.

Text Laundry With the convenience of a text, a customer will not need to wait when he goes in the store. Once the customer steps in the door, his receipt and change is ready or his package is ready for pick- up. He doesnt even have to get in the store! Our employee will step out and deliver the package to his car! Aggressive marketing strategies We have devised and created marketing strategies that will definitely garner attention and help us build a reputation in the community. We will tap the potential of the Internet (Facebook, Twitter, etc.) and other technologies to help us build our brand. Commercial laundry servicing At the start of our operations, we will get access to commercial business accounts so that we can service their laundry needs. Mobile Laundry Once profits and cash flow allow, we will acquire a delivery vehicle so that we can gain more access to the local market. Giving Back One of the companys purpose is to provide service to our customers which includes giving back to the community. We will sponsor sports festivals and other charity and outreach activities. This will also serve a purpose that our brand will have more visibility and help establish our business reputation. Eco Laundry As we do our business, we will research the market on possible alternatives to laundry chemical agents, we will partner with other shops to find best practices to save costs and save the environment.

Short Term Strategic Objectives To recoup initial investment and match retained earnings with initial investment at the first 3 months of operation. The acquisition of one delivery vehicle for our flagship store at the end of the first 3 months of operation. To gain access to 6 corporate business commercial accounts at the end of the first 3 months of operation. To explore additional expansion opportunities through the creation of another company owned after the 4th month of operation. To establish the roving daily on- house pick- up and delivery schedules before the end of the 6th month of operation.

III.

SOURCES AND USES OF FUNDS

Start- Up Costs Summary Start- up costs will be approximately Php400,000 which includes initial investment for equipment, rent of space, inventory and other expenses. Start- up costs will be financed primarily by a combination of investments from partners and investors. Sources and Uses of Capital USE OF CAPITAL
Capital Requirements Package 2 of Planet Laundry's* Complete Laundry Set- Up Package: Includes: 1. Equipment and Installations 1 Fully Automatic Washer 1 Fully Automatic Dryer Gas Piping and Exhaust System Water Piping and Drainage System Electrical Wiring System Ironing and Folding System Electric Fan Weighing Scale 2. Shop Renovations Painting and Lighting System Counter, Work Stools and Racks Shelving and Hanging Systems 3. Operation Supplies Laundry Basket Shop Office Supplies Receipts and Stationeries Plastics and Hangers Wall Clock Flyers 4. Detergent and Maintenance Supplies Shop Maintenance Supplies Laundry Cleaning Chemicals 5. Signages Side Panaflex Signage Front Tarpaulin Signage Interior Signages 8

Cost:

Included Included Included Included Included Included Included Included Included Included Included Included Included Included Included Included Included Included Included Included Included Included

Counter Signages 6. Trainings and Assistance 2 Days Seminar on Laundry Operations 2 Days Hands - on Training Graphic Design of Signages Interior Design of Laundry Shop Total Package Cost:

Included Included Included Included Included Php244,000

*Planet Laundry is a Laundy Construction and Consultancy Company located in Mandaluyong City and is known within the local laundry industry.

Other Capital Requirements: Other Operating Needs: Rent (6 Months Downpayment) Phone (One Landline and Two Working Cell Phones) Scrub Suit with Flops (Uniforms) Employee Salary for the first two months Permits, Licenses Logo/Brand/Flyers/Banners/Marketing Materials Petty Cash/Free Cash Flow for Expenses/Emergencies Total Other Operating Cost: Total Capital Requirements:

Php56,000 Php6,000 Php4,000 Php20,000 Php10,000 Php10,000 Php50,000 Php156,000 Php400,000

SOURCES OF CAPITAL Investor Capital Total Sources of Capital Php Php 400,000 400,000

IV.

PRODUCTS

Laundrifico! Inc.s laundry shop will offer top of the line, high quality and affordable laundry services. Company Locations and Facilities Site: Laundrifico! will be located on a newly built Lessandra, Camella Homes Sudivision located in Molino Road, a major artery for traffic in and out of Cavite. The site is located near a school and will front Molino Road. It is surrounded by three other minor subdivisions. Stores near the site are a convenience store, a water supply store and a graphic design centre. Development around this area can be considered as aggressive and the group wants to position itself to gain maximum leverage for profit. Products Laundrifico! Inc.s flagship laundry shop Laundry Express! will offer basic household laundry services at the start of operations but once cash flow and profits allow, we will bid for laundry accounts for local business establishments within the Molino locality and expand. We offer a wide range of services such as: Washing Drying Folding Dry cleaning Wet cleaning The sale of household and commercial laundry cleaning supplies Any similar or related services thereto

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V.

MARKETS AND COMPETITION

Laundry Service Industry The demand for laundry service is relatively high. Working people want the convenience of a fast, clean and affordable laundry service proximal to their residence or delivered right through their doorstep. The group has experience of needing the services of a convenient laundry cleaning service first hand. The laundry service industry especially on the local community is new and laundry shops are popping up in every corner and in every subdivision in the locale. The timing is right for this new venture. Molino is now becoming a centre of trade and plans for establishments like malls (Puregold, Super 8, Malvar, Emilus, RFC) and hospitals (Southeast Asian Hospital, Molino Doctors) are underway, it is the vision of the founders to ride the tidal wave of growth with this new business. Industry Analysis Laundrifico! Inc.s laundry shop would like to set itself apart from other laundry shops that may offer only one or two services. Although the focus of Laundrifico! Inc.s laundry shop will be the basic laundry cleaning service like washing, folding and drying, we will gain our competitive advantage by an excellent and personalized customer service, a membership program that will cater to all demographics, a one day rush laundry processing and on- house daily pick- up and delivery schedules. Here is a comprehensive financial picture of a laundry shop who wants to remain anonymous. The laundry shop is situated in an area wherein a customer has to have a car or should walk to gain access to the laundry shops services which in business parlance could be considered a handicap. Financial Picture of Anonymous Laundry Shop:
REVENUE Laundry Shop Sales (On Average) Total Monthly Revenue OPERATIONAL/ADMINISTRATIVE EXPENSES Rent Utilities (Gas, Electric and Water) Payroll Expense Direct Cost of Sales (Supplies, Miscellaneous) Total Monthly Expenses NET PROFIT (On Average) Php3,600 Php2,500 Php10,000 Php2,500 Php18,600 Php31,400 Php50,000 Php50,000

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Suppliers Laundrifico! Inc.s laundry supplies will be acquired from commercial suppliers and not from brand name suppliers. These potential suppliers will be Oxychem, Planet Laundry and American Home. We want to establish a long term relationship with our suppliers and if possible, leverage this relationship for discounts in the future. These suppliers will also be key in providing us technology that we can use in order to provide a better and more convenient laundry service to our clientele. Market Analysis Summary During the initial phase, Laundrifico! Inc.s will establish a flagship laundry shop named Laundry Express! that targets the market of the households and the working middle class that will benefit from a fast, convenient and quality laundry cleaning service within the immediate area of Lessandra Camella Homes, Molino III, Bacoor, Cavite. When profits and cash flow allow, we will add market segmentations that has the biggest market potential, especially commercial establishments like hospitals, malls and local businesses, expand and establish laundry shops to other areas and align our services and differentiate our products to stimulate further growth. Competitive Analysis As of February 20, 2012, there are no other laundry shop that is operating within the immediate area of the site. Competition and Buying Patterns As long as people are working and have a need for fast, convenient and affordable laundry service, laundry shops are here to stay. In every subdivision or even a commercial area, you will see a small unknown laundry shop that caters to its immediate area. These small shops are only known to their locales. We want to leverage effective marketing/advertising, aggressive market penetration and aggressive expansion to acquire a big market share in our city. The group realizes that our biggest competition in the long run will be Suds and Lavandera Ko. We will create strategies in order to strengthen our position against these two competitors. The founders have created a survey and it was implemented on December 2011 on the site. What weve found out is that there is definitely a need for this kind of service.

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VI.

MARKETING

Marketing Strategy Its been shown that the best method of advertising is through word-of-mouth. No major newspaper ad campaign is planned (for now). The group will also look at additional avenues in marketing like internet social networking, sponsorships and aggressive market penetration by the daily on- house pick- up and delivery system. We shall have an incentive program for referrals. Those customers who refer someone else to the store will be rewarded with two free kilos, and the referee will receive an introductory gift of a free kilo. In addition, we will ensure a clean environment and an excellent, friendly and prompt customer service. Target Markets and Market Segments During the initial phase, Laundrifico! Inc.s will establish a flagship laundry shop named Laundry Express! that targets the market of the households and the working middle class that will benefit from a fast, convenient and quality laundry cleaning service within the immediate area of Lessandra Camella Homes, Molino III, Bacoor, Cavite. When profits and cash flow allow, we will add market segmentations that has the biggest market potential, especially commercial establishments like hospitals, malls and local businesses, expand and establish laundry shops to other areas and align our services and differentiate our products to stimulate further growth. Pricing Strategy We will price our services in relation to inflation, prevalent prices in the laundry industry and direct cost of sales. Our strategy will be not to overprice, if possible below the pricing margin of the current laundry environment. Our goal is to have a very affordable service that will be available to our target market segments and sales volume. Promotion Strategy A membership program that will cater to students and senior citizens We will launch a discount program that will cater to students and senior citizens alike, provided they present an id. An incentive program for referrals Those customers who refer someone else to the store will be rewarded with two free kilos of wash, and the referee will receive an introductory gift of a free kilo. A laundry service program that will suit your every laundry needs

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Service that we will potentially offer will include folding and pick-up/delivery service, as well as online reservation and membership for pick-up/delivery and also the convenience of a loading station. A coupon day during Saturdays and Sundays It has been found out that during Saturdays and Sundays, households will prefer to do their own laundry themselves (day off at work). In order to counter this, we will have a big discount day during Saturdays and Sunday thereby increasing sales volume during this off- peak days. An environmental friendly process We aim to do our best to be an environmentally responsible company in all our processes. We will provide reusable bags for our laundry bags so that we and our customers does not need to add any more plastic pollution to the environment and community. A roving on house pick- up and delivery service We will set up a roving vehicle which will tour the target vicinity (possibly a localized subdivision) and provide a daily pick- up and delivery service, much like a garbage truck collects in a weekly basis. We realize that we will leverage this method to achieve three things at once: undercut the competition, increased market penetration and exposure, and increase profits.

Sales Projections (This does not include computations for mobile services.) The following table and chart illustrate the sales forecast. The company's cost of sales or variable cost consists of the company's utility expenses, which are dependent on the number of customers. This is normally a fixed cost for most companies. Also, assumption was based on a conservative figure average from information collected on the other laundry shops. Market confidence and a strong management team and process puts the growth rate to 15% annually. Sales Forecast (This does not include computations for mobile services.)
Year 1 Sales Sales of Laundry Service Total Sales Direct Cost of Sales Sales of Laundry Service Subtotal Direct Cost of Sales Php480,000 Php480,000 Year 1 Php60,000 Php60,000 Php552,000 Php552,000 Year 2 Php69,000 Php69,000 Php634,800 Php634,800 Year 3 Php79,350 Php79,350 Year 2 Year 3

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VII.

MANAGEMENT

The business will be managed by the owner, who has extensive leadership and management skills as well as an innovative and creative character. During the first six months of operation or until stable cash flow will be established (whichever comes first), the laundry shop will be manned by the owner or the operations manager. They will act as the provider of the services of the laundry shop and cashier. This is the way the owner wants to operate the laundry shop in order to get the feel, the needs and the wants of the community in which the business will be established, first hand. Management Team The founder and Chief Executive Officer Ernesto L. dela Fuente Jr. is an ambitious, hardworking, philosophical leader and investor. He has business experience and knowledge in the customer service industry. Over the years, he has joined several networking companies and started several small businesses such as a longganisa domestic export business and a T- Shirt theme printing company. He has also an investor in the Philippine Stock Exchange. He has extensive leadership skills as his most recent job was a supervisor in a big call centres company focusing on superior customer service. In just 4 months of being an agent, he was immediately promoted to a supervisor position. He was rated as a Top Supervisor in that company. He is also a graduate and a board passer in Nursing. In college, he was also elected as one of the Board of Directors of the Alumni Association as the Chairman of the Ways and Means Committee. He attracted the ambitions of his two business partners: Francis A. Orillos, Executive President Head of Operations and Chito A. Afurong, Executive Vice President Director of Human Resources, both are his long time friends from childhood. He has attended seminars and study groups tailored to business processes and the laundry industry. He also studies business and management models in order to better handle the responsibilities of being a CEO. The co- founder and Executive Secretary Francis A. Orillos is a very committed individual who will not stop until he gets his goals to fruition. He is a graduate of Nursing and a Board Passer and works as a Top Quality Analyst in one of the big call centres companies in the Philippines focusing on superior customer service. He has also attended seminars and study groups tailored to business processes and the laundry industry. The co- founder and Executive Secretary Adrian H. Sn is the newest addition to the partnership and complements well the dynamics of the group. He is also an ambitious and committed individual. He is an asset of the partnership and is willing to apply and study himself to take his business knowledge to the next level.
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Personnel Plan There will be two attendants/cashier employees whose duties include store maintenance, laundry process, driver for the roving vehicle and being cashiers/retailers for the small retail/loading business in the laundry shop. Depending on the demand for service, we might add more personnel.

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VIII.

FINANCIAL DATA

Break- Even Analysis (This does not include computations for mobile services.) Our break-even point is only 365 customers a month assuming a minimum of 3 kilos per customer. This was derived by using an average revenue of Php 75 per customer, variable costs at 15% and fixed costs of approximately Php 27,304. This also includes the cost of products for retail sales and all other costs such as payroll, maintenance, garbage and utilities.
Monthly Revenue Break even Assumptions: Average Percent Variable Cost Estimated Monthly Fixed Cost 15% Php27,304 Php27,375

Projected Personnel Plan (This does not include computations for mobile services.)
Year 1 Production Personnel Maintenance Contractor Other Subtotal Sales and Marketing Personnel None Other Subtotal General and Administrative Personnel Owner Maintenance/Cashier Subtotal Other Personnel None Other Subtotal Total People Total Payroll Php60,000 Php0 Php0 Php60,000 Php0 Php0 Php0 Php0 Php0 Php0 Php60,000 Php60,000 Php0 Php0 Php0 Php0 Two Php120,000 Year 2 Php60,000 Php0 Php0 Php60,000 Php0 Php0 Php0 Php0 Php0 Php0 Php60,000 Php60,000 Php0 Php0 Php0 Php0 Two Php120,000 Year 3 Php60,000 Php0 Php0 Php60,000 Php0 Php0 Php0 Php0 Php0 Php0 Php60,000 Php60,000 Php0 Php0 Php0 Php0 Two Php120,000

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Projected Profit and Loss (This does not include computations for mobile services.)
Year 1 Sales Direct Cost of Sales Production Payroll Other Total Cost of Sales Gross Margin Gross Margin % Operating Expenses: Sales and Marketing Expenses: Sales and Marketing Payroll Business Insurance Miscellaneous Total Sales and Marketing Expenses Sales and Marketing % General and Administrative Expenses: General and Administrative Payroll Sales and Marketing and Other Expenses Depreciation Miscellaneous Garbage/Sewage Rent Payroll Taxes Other General and Administrative Expenses Total General and Administrative Expenses General and Administrative % Other Expenses: Other Payroll Consultants Others Total Other Expenses Other % Total Operating Expenses Profit Before Interest and Taxes (Company) EBITDA Interest Expense Taxes Incurred Net Profit Php0 Php0 Php0 Php0 Php0 Php223,248 Php223,752 Php256,752 Php0 Php64,188 Php192,564 Php0 Php0 Php0 Php0 Php0 Php223,248 Php223,248 Php328,752 Php0 Php82,188 Php246,564 Php0 Php0 Php0 Php0 Php0 Php223,248 Php223,248 Php411,552 Php0 Php102,888 Php308,664 Php120,000 Php0 Php0 Php0 Php240 Php84,000 Php19,008 Php0 Php223,248 46.51% Php120,000 Php0 Php0 Php0 Php240 Php84,000 Php19,008 Php0 Php223,248 40.44% Php120,000 Php0 Php0 Php0 Php240 Php84,000 Php19,008 Php0 Php223,248 35.17% Php0 Php0 Php0 Php0 0% Php0 Php0 Php0 Php0 0% Php0 Php0 Php0 Php0 0% Php480,000 Php60,000 Php120,000 Php0 Php180,000 Php180,000 37.5% Year 2 Php552,000 Php69,000 Php120,000 Php0 Php189,000 Php225,000 34.24% Year 3 Php634,800 Php79,350 Php120,000 Php0 Php199,350 Php276,750 31.40%

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Net Profit/Sales

40.12%

44.68%

Php48.62%

Projected Cash Flow (This does not include computations for mobile services.) The following is a chart and table showing the cash flow and cash balance every month. The cash flow is the net income after all expenses have been paid. The cash balance shows the accumulation of cash in the business over the periods. Projected Cash Flow Statement (This does not include computations for mobile services.)
Year 1 Cash Received Cash from Operations Cash Sales Subtotal Cash from Operations Additional Cash Received Sales Tax, VAT, HST/GST Received New Current Borrowing New Other Liabilities (interest-free) New Long Term Liabilities Sales of Other Current Assets Sales of Long-term Assets New Investment Received Subtotal Cash Received Expenditures Expenditures from Operations Cash Spending Bill Payments Subtotal Spent on Operations Additional Cash Spent Sales Tax, VAT, HST/GST Received Principal Repayment of Current Borrowing Other Liabilities Principal Repayment Long-term Liabilities Principal Repayment Purchase Other Current Assets Purchase Long-term Assets Dividends Subtotal Cash Spent Php0 Php0 Php0 Php0 Php0 Php0 Php0 Php283,248 Php0 Php0 Php0 Php0 Php0 Php0 Php0 Php292,248 Php0 Php0 Php0 Php0 Php0 Php0 Php0 Php302,598 Php253,008 Php30,240 Php283,248 Php257,508 Php34,740 Php292,248 Php262,683 Php39,915 Php302,598 Php0 Php0 Php0 Php0 Php0 Php0 Php0 Php480,000 Year 1 Php0 Php0 Php0 Php0 Php0 Php0 Php0 Php552,000 Year 2 Php0 Php0 Php0 Php0 Php0 Php0 Php0 Php634,800 Year 3 Php480,000 Php480,000 Php552,000 Php552,000 Php634,800 Php634,800 Year 2 Year 3

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Net Cash Flow Cash Balance

Php196,752 Php196,752

Php259,248 Php259,752

Php332,202 Php332,202

Balance Sheet Projection (This does not include computations for mobile services.) The balance sheet numbers are shown below. Projected Balance Sheet Statement (This does not include computations for mobile services.)
Year 1 Assets Current Assets Cash Other Current Assets Total Current Assets Long-term Assets Long-term Assets Accumulated Depreciation Total Long-term Assets Total Assets Liabilities and Capital Current Liabilities Accounts Payable Current Borrowing Other Current Liabilities Subtotal Current Liabilities Long-term Liabilities Total Liabilities Paid-in Capital Retained Earnings Earnings Total Capital Total Liabilities and Capital Net Worth Php0 Php0 Php0 Php196,752 Year 1 Php0 Php0 Php0 Php0 Php0 Php0 Php0 Php100,000 Php96,752 Php96,752 Php96,752 Php96,752 Php96,752 Php0 Php0 Php0 Php259,752 Year 2 Php0 Php0 Php0 Php0 Php0 Php0 Php0 Php100,000 Php159,752 Php159,752 Php256,504 Php256,504 Php256,504 Php0 Php0 Php0 Php332,202 Year 3 Php0 Php0 Php0 Php0 Php0 Php0 Php0 Php100,000 Php232,202 Php232,202 Php488,706 Php488,706 Php488,706 Php196,752 Php0 Php196,752 Php259,752 Php0 Php259,752 Php332,202 Php0 Php332,202 Year 2 Year 3

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