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Learning Goal: I’m working on a business exercise and need a sample draft to help me learn.
Complete the required funding template for the business. The Start-Up Cost template is attached.
Also attached is the business the template is in reference to. PRONTO CLEANING SERVICE
Target market:Who are the target customers (age, gender, income, education, and other demographic information)Target customers: age- 25 and older, male or female, household income- $50,000 or more, education-College or higher, working professionals
Where they live, shop, work, etc.Miami residents, that live in more lucrative neighborhoods with extra income that can be used to spend cleaning service. Households and businesses. I.E. Brickell, Wynwood, Miami Gardens, Coral Gables, etc.
Potential CustomersDescribe your potential customersOur potential customers are working professionals with disposable income. Household that lack the time or even the desire to complete cleaning activities. But also, small business that require a cleaning crew after or during the work day or other specific services.
How would your business meet the needs of the targeted customers
Describe exactly what your business will do to meet their needsOur business will meet the needs of customers by offering them time. Time to complete other tasks or duties without having to account for when they will get their cleaning done. It allows the customer to delegate a time consuming task to others and provides them with a stress free service. It will allow potential customers to be able to return from home or from a busy work day to a clean and inviting space, which will promote relaxation and luxury. Time consuming tasks will be completed efficiently, accurately, and timely.
What is your point of differentiation?Progress Tracking on app
Offering extras: scented oil diffusers, candles, air fresheners, etc.
Mobile cleaning service
Note section where customers can place a note for servicer explaining any particular area or item that needs particular care or attention.
Document Market claims
Provide facts about potential sales, demographic studies, market survey, customer questionnaires, and demographic studiesSince 2020 there has been a large growth in the market to meet the need for more frequent and reliable cleaning services. The outbreak of COVID-19 caused a need for cleanliness and sanitization like no other. Our potential sales for the year are $300,000. Our target market are mostly homeowners, renters, landlords, and small business owners. The median household income in Miami, Fl is $53,975. Market research shows a steady increase in market value for cleaning services in the next 10 years. According to Allied Market Research, the market value in 2020 for cleaning services was valued at $55,715.0 million(Sumesh Kumar , Roshan Deshmukh) and by 2020 that value will be $111,498.8 million. (https://www.alliedmarketresearch.com/cleaning-services-market). A customer questionnaire was completed where 20 people over the age of 27, all homeowners, renters, or small business owners, were asked if they would hire an affordable cleaning service that offers both short-term and long-term contracts. Fifteen out of 20 people voted yes.
Discuss promotion and marketing campaignWe plan to promote our business using short videos and ads to be posted on social media networks, print ads to be sent to residential mailboxes, handing out flyers, and creating a refer-a-friend service. We will create short catchy videos with an original jingle or tune, no longer than 10 seconds that can be easily shared or reposted. It will be catchy while also effectively displaying our services. We will need to follow up these video ads with still photo display ads as well. This campaign will begin in the spring where the need for a cleaning service will increase for things such as, spring cleaning, allergies, and many holidays. We will also promote add-ons like scented oils, candles, incents inspired by the spring time to up-sell.
Discuss the costs associated with the promotion/marketing campaignThe expected cost associated with promotion/marketing campaign is $7,500. That is 2.5% of our total expected annual income. Our plan is to have two campaigns a year, one in the spring and one in the winter. Both campaigns together will be an estimated $15,000 which will be 5% of our total annual revenue.
Market size and trends
Discuss the size of the market (include table/chart to show data):Is it growing, shrinking, seasonal, etc.?The market size for cleaning services are growing vastly. By 2030 it will be almost double the market value total that it was in 2020. The need for cleanliness is at an all-time high, while the availability to complete the tasks is lower. We will be providing a much needed service in a growing market.
Discuss specific sites for your businessOur business base location will be in Miami Gardens, FL. Our operation will be mostly run from our mobile vans where the crews will have their work orders for the day and return at completion of jobs. At the home location vehicles will be returned, administrative tasks, and accounting tasks will all be performed at this location. A specific site that we are currently interested in is located at, 4980 NW 165th st Miami Gardens, Fl. This location is available for rent, least, or to buy. It will provide the necessary parking area and business administrative space needed to grow our business. Eventually we hope to expand to additional locations throughout Miami, FL .
Discuss zoning requirementsThe locations zoning is Type I-2 industrial.
Use census and demographic reports to support why this location was selectedThis location was selected because it is good distance from multiple highway access points, for easy access for our drivers. It is also in a private area where any equipment that is used will not be disturbing nearby neighbors. Miami Gardens is a growing area that is changing and evolving. With the updates and many events to the new Hard Rock Stadium, tourists flock to the area for its accessibility, and homeowners are renting out their homes for profit.
Discuss the costs associated with producing or deliver your product/serviceCosts associated with producing our products/services are employee costs, gas, vehicle maintenance, location costs, vehicle costs, cleaning supplies, and marketing.
Discuss your pricing strategy: Cost leader, lowest cost, cost differentiationWe will be executing a low cost strategy, since we are a startup and we need to put ourselves in good position. Setting our prices competitively in regard to our neighboring competition will afford us views from new customers as well as some of their customers. They will begin to compare and make a choice on whether they are truly receiving the best value for their dollar. We may reevaluate in the future, but this will be our start off point.
Discuss if the strategy will allow for the company to be profitableThis strategy will allow for the company to be profitable and stay afloat. But over time it doesn’t help with growing the company. A different strategy or approach may be needed further down the line once the company is more established in the market.
Discuss price of similar product/servicePrices of similar products and services begin at $150 for a basic cleaning of a studio apartment. They vary and increase from this amount based on a variety of factors and add-ons that may be included. Most of the business that offer similar products/services do not put their fixed prices online, but have customers email for a quote. They use a basic questionnaire to gauge what the customers’ needs are and respond within 24 hours with an estimate. They also inform the customers that the price on the quote is an estimate and is subject to change based off various factors.
Discuss if customers are sensitive to priceCustomers are sensitive to price because although they may have some disposable income they want to ensure they are getting quality service for a decent price.
Will you accept credit?We will accept credit cards.
Will you sell on credit?Yes, we will sell on credit.
Explain how you will get the product/service to the customers.Will customers come to you or will you go to your customersWe will go to our customers as we provide mobile cleaning services and want to make it efficient for them.
Will you hire sales representative, etc. include any other pertinent information about your distribution process
Service Providers Analysis (Who are the competition and buying patterns)
OR Alternatives and Usage Patterns (Who are the competition and buying patterns)
Strategy and implementation Summary
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