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Service Business Plan Template [2020 Updated]

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I. Executive Summary


You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Business Overview

[Company Name], located at [insert location here] is a new home cleaning service providing home and apartment cleaning to its clients. [Company Name] is headed by [Founder’s Name], an experienced home cleaner and cleaning services manager.

Services

[Company Name] will focus on providing weekly home cleanings to upper class residents as well as specialty cleaning services to other clients. These specialty services will include exterior cleaning services (porches, patios, building exteriors) and deep cleaning of homes that have heavy build up of debris and garbage (preparation for moving or estate sales).

The founder, [Founder’s Name], will also develop proposals for cleaning services specific to the needs of the client and the amount of space to clean. [Founder’s Name] will write newsletters to clients describing the best practices in home cleaning, reviewing new products, and answering frequently asked client questions.

Customer Focus

[Company Name] will primarily serve the residents within a 10 mile radius of our location. The demographics of these customers are as follows:

  • 27,827 residents
  • Average income of $74,700
  • 58.9% married
  • 49.6% in Mgt./Professional occupations
  • 75% of residents are homeowners
  • Median age: 38 years

In addition to this relatively wealthy adult demographic for a cleaning service business, there are five large apartment buildings in the area. The management companies of these apartment buildings may require cleaning services to prepare for new tenants to move in.

Management Team

[Company Name]’s most valuable asset is the expertise and experience of its founder, [Founder’s Name]. [First name] has been a cleaning services manager for the past 15 years. He has spent much of his career working with Regal Hotel Management, where he oversaw housekeeping operations for fifteen hotels. He spent the more recent portion of his career at a smaller firm, King’s Cleaning, where he sold cleaning services worth over $1 million to homes and businesses.

[Company name] will also employ an experienced assistant manager to manage cleaning operations. This will be an experienced operations manager who will be trained in cleaning services operations by [Founder’s Name].

Success Factors

[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.
  • Our location is in a high-wealth area where customers are in need of house cleaning services.
  • The management team has a track record of success in the cleaning services business.
  • The local area is currently underserved and residents rely on independent and often illegal house cleaners.

Financial Highlights

[Company Name] is seeking a total funding of $92,000 of debt capital to open its cleaning service. The capital will be used for funding capital expenditures and location build-out, hiring initial employees, marketing expenses and working capital.

Specifically, these funds will be used as follows:

  • Headquarters design/build: $46,000
  • Working capital: $46,000 to pay for marketing, salaries, and lease costs until [Company Name] reaches break-even

Top line projections over the next five years are as follows:

Financial SummaryFY 1FY 2FY 3FY 4FY 5
Revenue$560,401 $782,152 $1,069,331 $1,379,434 $1,699,644
Total Expenses$328,233 $391,429 $552,149 $696,577 $776,687
EBITDA$232,168 $390,722 $517,182 $682,858 $922,956
Depreciation$7,000 $7,000 $7,000 $7,000 $7,000
EBIT$225,168 $383,722 $510,182 $675,858 $915,956
Interest$6,016 $5,264 $4,512 $3,760 $3,008
Pre Tax Income$219,152 $378,458 $505,670 $672,098 $912,948
Income Tax Expense$76,703 $132,460 $176,985 $235,234 $319,532
Net Income$142,449 $245,998 $328,686 $436,864 $593,416
Net Profit Margin25%31%31%32%35%
Full-time Cleaning Staff1011131415
Client Base5881110143176
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