Introduction
This business is located near in the school dormitory where in those student may have an easy access and it is nearer to them, not just for the students but as well those people who cannot wash their own clothes, or those people who don’t have time to wash it because of their work. I came across the idea about to have a laundry shop business, not a big business but as a beginner it may be just a small business first. As our population is getting increases, the market for laundry and dry cleaning is fast approaching as it is growing. Mostly people also don’t have servants in their home in which they only live alone, some just live in the apartments. By this I find it profitable if it is handled with a proper system. Unlike having a business with a restaurant it is very much expensive, it needs a very big amount of capital to invest you have to think the settings of the restaurant, the different menus, the kitchen wares, it also needs a chief cook, waitresses and other needed in a restaurant but with this laundry shop it doesn’t merely need a lot of cost of money but as we know that in a starting point, capital is really important and a big invest, in which we have to provide a place to start, providing a washing machines with a drying machine, a water source, a good detergents plus a fabric softener and hiring with some employees. But you yourself can manage and do it with the help of the other member of the family if willingness is there and if it cannot make it that’s the time to add some staff to do the task but his business requires a few staff. As a beginner, I have to buy around 3 pair of washing machine and a dryer, an iron also and if there is lots of customer who comes in then that’s the time I have to buy another units. I get interested also in this business because I have friends and neighbors who have no time to do was their clothes, some of them are working class and others may go return to their house late at night. Every people needs a neat and clean clothes. Laundry shop permits the college students, those renters, people who travel and to those families who doesn’t have their own laundry equipments. In addition to that, having these business. I’ve found that it has a good profit, thus it is also a cash bases business may be also likely to be great return in investment, in managing the business it is less minimal. As such this business doesn’t really need a big investment, it gives a needed service and has an excellent taxation benefits. And that’s the reason why I came across this idea because I think this business is a good way to start.
SWOT Analysis
STRENGTH
This business located near to a school dormitory where in the students can be easily make access on it, no need for them to go to other places just to laundry their clothes. Not for the students, but as well as for the people who are nearer in that place, not basically to those of them but for also to the people who had no time to wash their clothes. This shop can be easily located because it is near in the street. It can be easily being noticed to those people who may pass by the street. Before this business starts the owner and the marketing staffs had undergone seminars, in order to implement a good and better business. This shop uses new and branded units to make the clothes or items of the customers are in neat and in good hand. It also uses commercial and generic detergents plus it uses also a fabric conditioner to make their clothes be attractive to the customers. We trained our staff to do well on how to do packing the clothes to avoid stretching and scratching the clothes also the staff teaches to segregate the clothes in order not to mix it with other customers. It separates the colored items and those with white ones so that it will not stain on the other clothes. This shop is very convenient and it has a good price. Using the water sources same as with the water that mostly used by the people. If the one of the staff ruins the signature clothes, the shop would pay it and talks to customer if it is okay with them to repair it or otherwise, the shop really have to pay the damage. This business really value the customers demand. The shop do give precise on their works on when will the customers get it.
WEAKNESS
Since this business is just starting people may foresee and judge that the shop is not so expert in doing the certain task. It is just a small business because as this business has just starting. With the competitors, it may be a great advantage to them since they have a big shop for their business and they are known. This business was not yet known by the others yet so expected that the customers are less coming from the shop. They don’t have the guarantee if they will satisfy the said service that the shop will give. Lacking in marketing expertise. The quality of the goods or the services has not been evaluated yet. The shop do not uses branded detergents because it is too expensive. Since it is a starting business it has only small units of washing machine and a dryer, insufficient units. Inadequate staff to do the laundry and drying. Speaking in environmental impact, the investors don’t have enough to invest in having water treatment since it is just a start. Only to those who have starting the business just a small water treatment. The shop in terms of environmental it has a poor protection system in the place. The location is not very easy access to other people, mostly people go to other laundry shop near in the mall, market place. Infrastructure needs require an urgent investment. The market of the agent used in detergents is very competitive, it cost a lot. Lacking in management skills. The shop has no track record in business.
OPPORTUNITIES
The shop has an access on the key distributor’s channel. Serve those people whose needs are unfulfilled with other laundry shop so it is your opportunity to fulfill the needs of the customers. The market becomes lessen because of the ineffective competitors. The shop have the opportunity setting a new market strategy to offer a good and improved profits. There is availability of the units and so with the staffs. A progress happen because of the references by the people who have used the service. Fast growing company due to reference by the people. Less reputation due to many existing business. There is a new known international business market. Many customers like the services that the shop gave and render. The shop is in progress because the people trust on the shop. It gives satisfaction on the customers. It gives opportunity to other people who need a job since the shop is having an expansion it also gives opportunity to the other people to get access on the service. Opportunity to the new arrival of technology because buying those second hand and non branded washing machines makes an additional expenses if there is a need to repair. Before strict implementation of the rules and regulations because of many competitors but the company sees the working process , regulations have been loosen. Through proper way of system, it has a great opportunity that big numbers of items were being given since the laundry shop has serving the customers well.
THREAT
There is a threat where in a school dormitory has a laundry service on it in the inside and that the students may no longer use our shop. People are not satisfied with the said service that the shop given. There is a threat when they don’t like our way of doings the things. Understaffing is one of the threats. There is also a threat when a new built laundry shop has also located beside your area or in front of your shop. The competitors has a good way of service, a nice price for the customers. With the material being used, there is a threat in increasing the cost like the detergents and fabric conditioner. In addition to that threats in terms of disciplinary actions of the staff like cheating on the business for example although the customers money change is 300 but the staff record it as 500. Furthermore, a threat where in competitors have other access to other distribution. And really a threats if there is taxation that implemented on the service. There may be a treats by which people make feedbacks , a criticisms by the people. A threat that due to economic the people may not use the laundry shop and that they will have to wash their clothes. There is a poor reputation on the quality of the service. Other threats the location of the shop involve in fire accidents. With no environmental protection. The people’s expectation were not met so the customers tend to transfer into a good shop.
Conclusion
Using the SWOT analysis, I came to know that by using it, I may easily know the strengths, the weakness, the opportunities and threats that brought along the business. As with this I come to conclude that having a business really needs a long term plan to get invest, you have to invest a lot of money in order to have a business. You must think the strength and the weakness so that by the time that it would happen you may have the other strategy to use to maintain the market at a cost. Having or making a business is not an easy way and not easy to do it. Since it is the only way that could help sustain your family, one should make it and should do it in a proper way of system. Being friendly to the customer, being honest and be precise on the customer make the laundry shop progress. Competitors is normally around whenever a business is there but you as an entrepreneur should know also the other side to make your laundry shop be more attractive to the customers. Marketing manager uses SWOT analysis to guide their business, they also focuses on the competitors’ analysis, cost structure, there profits of source, resource on they have, and the differentiation on the production. They also doing research on the market, they also examine the position of the competitive. As this it is really important to have a SWOT analysis before implementing a business, it is a great help to you and so with your budget plan. Without having a feasibility study or SWOT analysis in a business, the business may run out or may be bankrupt. Having a laundry shop really need a huge investment, a big amount of money to invest because you have to buy with materials needed for the business, salary for the staff, the electricity bills and taxation bills and water bills. I don’t have any decision to proceed with the investment yet since it may take a lot of time for me to think of it. Having a business is not an easy to build in. As for now I don’t want to invest and have a business, I need more study on it, feedbacks and other opinions. It like that it is just my guide, an option to have it, I have to pass on it. This business doesn’t give me the assurance to get a good income in which that I could quit from job. What if this business is not improving and it when out nothing, and I failed to choose between my job and it a lost on my part. SWOT analysis is not merely that a certain business should be constructed or to build in but it’s a guide to have a business. It is for the market manager to know the chosen business the strength, weakness, opportunity and threats. A decision making is really important, SWOT is like a decision making plan that helps the investor to have an idea. I need other option other choice for business, but this is really my option but as I said I don’t have any plans yet to invest, it would be a waste of money to borrow in a bank which is the business not progressing very well. Although having a business laundry shop doesn’t really need a million dollars to invest, it deals with the washing machines, a dryer, detergents and fabric conditioner and others but still we are referring here for the income, also we are giving salary to the staff, paying the bills and others. And so to end up, all I can laundry shop is a good business to invest but as of now I don’t want immediately or getting into a rush to build a business.
Credit:ivythesis.typepad.com
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