Who, What, Where & Why? Suds is a Laundrobar & Café, located in the Old Port Green Laundromat in a Combo Bar & Café • Wi-fi & Free Parking • Music & Entertainment • LocalEspresso& Coffee, Snacks, Sodas & Beer Why? Maine Weather + Clothing = Half a Year + Trapped in a Laundromat Why not do it guilt-free and somewhere fun?
Mission Statement To provide Portland with clean, green, and affordable laundry services in a comfortable café environment. Suds aims to help customers reclaimtheirlaundrytimeforthemselves in Portland's only laundrobar & café. We offer free Wi-fi and entertainment so our customers can relax, multi-task, socialize, and enjoy locally-sourced coffee, baked goods, snacks & beer while their dirty laundry gets done.
Location 141 Middle Street Portland, Maine
Theme Local Green Modern/trendy
Food and Drink Locally sourced: -beer & soda -coffee -salty snacks -sweets
Hours of Operation Daily 7:00 a.m. – 11:00 p.m.
Competition 15,145 Laundry Patrons Intown Aged 18-45 Competitor Locations • West & East Ends • Downtown • Neighborhoods of USM Product Offering: Identical, Similar, or Dissimilar Number of Competitors in Each Category: Identical = 0, No Laundrobars Similar = 1, Green Laundry Dissimilar = 10, Not Green
The Washboard Eco-Laundry Strengths Weaknesses Limited online presence (bad website, no Facebook, Twitter, Mobi deals, etc.) No Free Parking Limited Space & High Demand Not Located Central to Downtown No cafe atmosphere No Onsite Food or Beverages • Wet Cleaning • Wash, Dry & Fold $1/lb. • Wi-fi • Close to Tavern, Convenience Store & Café • Hours Sync with the Tavern • Member of Portland Buy Local • Established Clientele & Commercial Accounts
Strategy: Product Offering Laundry With only one competitor to offer a substitute product, Suds can focus on competing with the Washboard Eco-Laundry on: • Price • Proportionof sales derived from self-service(Washboard’s is split 45% between self service and full service) • Location • Amenities: atmosphere, entertainment, in-house beverages and foods Café & Bar Multiple competitors in the Old Port. Instead of competing head-to-head, we emphasize our unique product offering & co-brand with other local coffee, beer& baked good producers. This does two things: • Delivers consistency with our locally produced goods and our commitment to sustainability • Delivers superior quality at comparable price
Strategy: Overall Being a green laundromat and offering only locally produced foods & beverages, Suds maintains its stewardship of our city, state, and the planet. Suds competes not only to turn a profit, but to better the environment and to improve the local economy. Goals: • Year 1Establish a Clientele & Drive Retention Rates Higher • Year 2& Beyond • Install Solar Panels, Wind Turbine – Offset Energy Consumption & Integrate Additional Electronics (Arcade Games, etc.) • Increase Stewardship & Green Offering (Sponsorships of Causes) • Double Publicity & Marketing Efforts & Create More In-House Events
Assumptions Portland population: 63,153 44% of the overall Portland population, or 27,787 individuals are between the ages of 18-44 15,801 non-family households in Portland 28,990 of the units are occupied 54.5% of the Portland housing units are occupied by non-family households - our target demographic 15,145 potential, overall Laundromat patrons Target 20% of the potential patrons in Year 1, which is 15,145 x 20% = 3,029 78,749 unique visits from patrons annually
Funding • Investment Company • Steel Head Capital (7 Years loan @ 6%) • $835,000 • Angel Investor (Shareholder) • Owner of Skillful Vending, Ross Furman • Pool tables, Darts • $65,000