I. Executive Summary
This Section's Contents
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[Company Name] aims to revolutionize and lead the car washing industry in [Location] and deliver the very best for our customers by providing an exceptional experience and an unparalleled service.
[Company Name]’s founder, [Founder’s Name], introduction to the car washing industry started during his college days. He was working full-time in one of the city’s first 24-hour car washing companies. After working for more than 4 years with the company, he learned proper techniques on how to wash cars in the most efficient way and also learned simple mechanic work for car maintenance.
The following are the products and services that [Company Name] has to offer:
- Full service hand wash
- Window, dash, and door jamb cleaning
- Undercarriage washing
- Wheels care
- Interior vacuum or deep cleaning
- Express exterior wash
- Maintenance check
- Car detailing
[Company Name] will primarily serve the residents within a 15-mile radius of our location. The demographics of these customers are as follows:
- 39,900 residents
- Average income of $82,000
- 43% married
- 49% in Mgt./Professional occupations
- 72% of residents are car owners
- Median age: 38 years
[Company Name]’s most valuable asset is the expertise and experience of its founder, [Founder’s Name]. He has been in the car wash industry since [year] and was one of [Other Company Name]’s top employees. He also has a degree in business management and is a licensed mechanic.
[Company name] will also employ an experienced assistant manager to manage the day-to-day operations. He will be an experienced operations manager who will be trained in other important company operations so that he will be able to take over in absence of [Founder’s Name].
[Company Name] is uniquely qualified to succeed due to the following reasons:
- [Company Name] will fill a specific market niche in the growing community we are entering. In addition, we have surveyed the local population and received extremely positive feedback saying that they explicitly want to make use of our services when launched.
- The majority of our location’s residents and workers own automobiles and can afford regular car wash services.
- The management team has a track record of success in the car washing business.
- The car washing business has proven to be a successful business in the United States.
[Company Name] is seeking a total funding of $200,000 of debt capital to open its car wash business. The capital will be used for funding capital expenditures and location build-out, salaries, marketing expenses and working capital.
Specifically, these funds will be used as follows:
- Location design/build: $120,000
- Working capital: $80,000 to pay for marketing, salaries, and lease costs until [Company Name] reaches break-even
Topline projections over the next five years are as follows:
|Year 1||Year 2||Year 3||Year 4||Year 5|
|Pre Tax Income||$63,291||$661,962||$866,694||$1,112,661||$1,394,972|
|Income Tax Expense||$22,152||$231,687||$303,343||$389,431||$488,240|
|Number of locations||1||1||1||1||1|