Doing the laundry has long been a common household chore that most of us find time-consuming, as well as tiring. The dawn of the labanderas brought a huge sigh of relief from those of us who had to do the laundry every day. With the passing of time, technology took over. The creation of the washing machine brought about a new dimension to washing clothes faster and easier. Further developments made it more powerful and effective. To create an edge over the labanderas, entrepreneurs harnessed this opportunity of providing faster laundry services by creating laundry businesses.
A laundry business encompasses an establishment that provides laundry services, such as washing, pressing, and folding, as well as dry cleaning services to the clothes and other garments of its customers. It utilizes washing machines and dryers, as well as dry cleaning equipment, in performing such services.
Over the past few years, there has been an increase in the number of laundry businesses here in Dumaguete City, as evidenced by the records kept by the Department of Trade and Industry. As an acclaimed university town, the number of students entering the city each year has provided a steady stream of customers for these laundry businesses. More specifically, those students staying in boarding houses and dormitories serve as major customers for the industry since they usually don’t have the time or the facilities to do their own laundry.
With the current demand for laundry services, it is no wonder that laundry businesses are popping up all over the city. One of those who would like to try a hand in this industry is Mr. Randolf Navarro. Mr. Navarro, a resident of Dumaguete, plans to have his own laundry business in his home located at Poblacion 7, near the new PHCCI Main Office at San Jose Extension since no laundry shops have been put up in the area to capture the potential market.
Primarily, this project is intended for the study of the feasibility of Mr. Navarro’s conceived business, “Stop ‘n Wash”. Important aspects that will be considered include how it will be able to operate in the market, how it differs from other laundry shops in the city and what its condition will be within ten years following its formation.
Name of the Business
Initially, Mr. Randolf Navarro had two possible names for the proposed laundry business – “Laundry Stop” and “Stop n’ Wash”. He eventually opted for “Stop n’ Wash”, so as to unify and associate it with the established market of his existing sari-sari store, “Stop n’ Shop”, as well as his soon-to-open internet shop, “Stop n’ Surf”. Per the examination of in the list of business names in the official website of the Department of Trade and Industry, there are no existing businesses with the same name.
Objective of the Study
This study aims to assess the proposed laundry business so as to furnish the proponent with information on whether it is feasible or not. This entails whether the proposed laundry business would be sustainable, while gaining profit or incurring loss with the proposed rates and operating hours, among others.
Brief Description of the Study
This study indicates the feasibility of the planned laundry business of Mr. Randolf Navarro, which attempts to answer the main question concerning the pursuit of this idea. Part of it is the financial feasibility, which is the analysis of the total costs to incur for the proposed project (including all costs on acquisition of equipment and operation) and the potential revenues that the project is likely to generate. Other matters included are identifying market competition and potential markets, determining its technical feasibility, as well as defining the organizational structure of the business. The study also addresses some legal responsibilities of the business pursuant to its establishment. The group intends to aid Mr. Randolf Navarro in determining if the business will succeed...