Page 85 - Business Plans that Work A Guide for Small Business

76 • Business Plans that Work

Franchise Competitors
Since Lazybones
plans on growing via fran-
chising, this competitive Franchise-wise, Lazybones competes with a wide spectrum
analysis is focused more
on whether they can at- of companies. Any personal service company with relatively
tract franchisees (custom- low start-up costs is an option our target franchisee could
ers), rather than whether
the business model is choose. These range from gift basket franchises like Edible
attractive.
Arrangements to trash removal franchises like 1-800-Junk-It.

Franchisees Advantages:
Our franchise opportunity stands out first and foremost as
the only personal laundry service franchise available. Doing
people’s laundry is a simple chore that many franchise
Identifies the key
success factors that will buyers feel they already understand and are qualified to
drive a potential franchisee
to franchise with Lazy- perform. Compared to other franchises, personal laundry
bones. Again, Dan could has the additional appeal of not requiring any handling
have used another com-
petitive profile matrix to of foods, hazardous chemicals, or dangerous equipment.
provide a snapshot of how Laundry and storage services have low barriers to entry and
Lazybones compares with
other franchisors. seem simple enough. Thus we must communicate a strong
and well-defined value proposition to franchisees that clearly
saves them more money than the fees they will pay us.
Our proven operations plan, strong brand, and multiple university
endorsements mitigate an entrepreneur’s risk and translate into faster and
greater returns on upfront investments. Additionally, our knowledge and
experience with laundry facilities translates into direct and quantifiable savings
for franchisees:

• Getting the optimal mix of laundry machines can save a franchisee approxi-
mately $2,000 up front on installation and up to $100/month on utilities.