Opportunity

Problem

East Meadow long island and the surrounding area are very wealthy. Over 40% of its residents earn more than $70,000 annually. Consequently, they have nice cars and want them to look nice. There are five different car dealers within a three mile radius that will require car washing services. There are also many local businesses with company cars that need to be kept clean. All of these potential clients need a car washing service that suits their budget. We will happily fill that need.

Solution

Soapy Rides is offering three services to its customers: exterior washing, interior cleaning, or detailing. Soapy Rides has no true competitors that are trying to offer a high quality service for a reasonable rate

Market

This area is an ideal location for a business because of the many market opportunities it offers. More than 40% of the households living in this area earn more than $70,000 each year. Many residents in the area own or lease new cars, and they place great importance on how they look. There are five car dealerships within three miles from the proposed Soapy Rides location.

Competiton

East Meadow also boasts a hand-car wash shop. It is relatively new and is competing with automatic car washes. But it’s not aimed at those who are looking for quality cleaning.

Why Us?

Soapy Rides provides three services for customers: exterior and interior car washing, cleaning, and detailing. Soapy Rides has no true competitors that are trying to offer a high quality service for a reasonable rate.

Expectations

Forecast

The business will be initially financed by a personal investment by Mark Deshpande and will finance growth through cash flow. This will result in the company growing slower than it should, but Mark will remain in control of the company’s direction. It is hoped the company will open a second location by year three. The company will seek equity or outside funding at this time.

Financial Highlights by Year

Financing Required

Mark Deshpande is investing $40,000 to turn the location into car washing.