Members: Cesar Rodriguez, Pablo Zuloaga, Laura Freixas, Ching-Chia, Anisa Isaeva
1/ Potential Market
1.1/ Business Concept
Our concepts is a Laundry where you could also have a coffee while you wait for your clothes to get done. The idea of this place is for people to take advantage of the hours it takes to wash clothes, and take advantage of them as a recreational time, study, work or why not, to meet someone who is at this time. In addition to having machines for washing clothes and dryers, will also have comfortable tables, excellent coffee, WiFi, magazines and also some board games or cards for people to have fun, and we could even give people some workshops about coffee brewing, coffee history and more.
We have two main competitors, one is a coffee shop and the other is a laundry.
By combining these two programs, we believe we are providing an elevated experience that each could not achieve on their own. Below is a list of the advantages that our combined business has over the stand-alone model of each.
higher quality of coffee
the place to work
provide more washing machines
more spots in the neighborhood
Laundry Business in Poblenou
Coffee Business in Poblenou
Laundry&Coffee is aimed at a young audience between 20 and 35 years. Students and professionals arriving to Barcelona from other villages or countries, people from Barcelona that are starting to be independent. They are in a situation of sharing a flat with other people or are starting to have their first home alone and they need to wash their clothes because they don’t have a washing machine at their homes.
A secondary target could also be people who feel lonely, since in a recent study it appeared that many older people feel lonely, or even people who may have a washing machine but no internet, so see it as an option to go to study or work.
We intend to buy an existing storefront in Poblenou of approximately 150 square meters. According to a market analysis, we expect to spend between 197,000 euro and 284,000 euro. With a mortgage over 15 years, and an initial investment of 100,000 at an interest rate of 3.8% we expect to pay between 1,250 and 1,750 a month on our mortgage. Within this space we will also put an initial investment of $50,000 - borrowed from personal savings and family/friends without interest.
With the 50,000 investment in the space, we expect to cover the following
During the construction period we are expected to be without sales for up to 3 months
Washing & Drying Machines with Coin
3/ Fixed and Variable Expenses
Products for laundry
· Products for Coffee
· 4 part time workers- hourly payment
4/ Life Cycle of the Service
As time passes, different trends will affect our business. Like most industries, coffee is not exempt from following trends, at the moment it is cold brew, matcha, chai tea and others. So as they appear, we can implement them.
Also on the issue of washing, by involving consumption of water and energy, it is very possible that trends on sustainable washing will occur and new machines appear that are increasingly responsible for the environment and use less water and less energy. Also in relation to the washing products we use, since these, being composed of chemicals, would imply a certain level of ecological damage to the environment, so we should also think in the future about ecological detergents and others.
In the event that the economy goes down, we would also have to find different ways to lower prices or earn other income, such as having a reduced washing time promotion in which we do not do the entire washing cycle, but rather do a cycle Quick to consume less water or electricity, as well as the famous quick dry that conventional washing machines have. We can also give people the choice between different types of detergents or softeners that are cheaper, or even give people the chance to bring their own detergent or fabric softener.
Likewise, in terms of coffee, we could not only have premium quality coffee, but also have a lower quality coffee option for those who want to pay less, or even give the option of whether to use the internet or not.
In an increasingly disconnected society, people are striving for a place to connect, relax, and socialize. By combining this trend on the rise with the universal need to wash clothes, we seek to create a social space in which people will be encouraged to spend between 2-3 hours of their day hanging out. Statistically speaking, the longer you can encourage a person to stay in a space, the more likely the are to spend money. By offering a laundry service in addition to being a cafe we create the perfect environment for people to spend money on multiple products - coffee, laundry, and food. This hybrid business model has proven successful in may other markets including New York and San Francisco. By creating an attractive interior design, we will attact the exact type of millennial customer who will enjoy sharing their experience of our space with their followers online. With a youtufull atmosphere, and a projected heavy investment of tech money, Poblenou in Barcelona is the perfect neighborhood to execute this concept. We hope that you will join us on this journey to creating an incredible space for our neighborhood.