Feasibility Study on Establishment of Wash on Wheels in #25 G Squared, Buenamar Rd., Nova Proper, Novaliches, Quezon City
Keywords:feasibility study, laundromats, laundry, market viability, return on investment, washing machine
This feasibility study focused on the proposed business named Wash on Wheels (W.O.W) that will be established at #25 G Squared Buenamar Dr. Nova Proper, Novaliches, Quezon City. Based on the result of the survey, 70% of the respondents around Barangay Nova proper, Gulod, and San Bartolome visit a laundry shop at least two times a week to do their laundry, while 30% of the respondents have never visited a laundry shop at all. The business is forecasted to increases the service revenue by 10% annually. The salary expense will have its annual increase by 2%. Wash on Wheels will accommodate 58 services per day, and it will breakdown by different business offerings. Other related expenses will also have a 2% increase annually. The changes in owners’ equity with the starting capital of P200,000 per each partner will be added to the net income (P182,237.1) by the partners. The ending capital of the business will be the new capital of the second year of the business operation. The return on investment of the business on its first-year operation is projected to be38.78%, and it will follow by the next return on investment of the business. In terms of market viability, the business location is one of the most considerations in determining theprofitability of W.O.W. The researchers proposed a new kind of laundry business to give the best satisfaction to the customer, whichis the main goal of the business by having a laundry shop on wheels for the customers’ convenience. In terms of management viability, the researchers noticed that balancing the operation of the business, violating the business rules and regulations, and violating the workflow of the business will have an equivalent punishment for the employees and employers due to the effects of this attitude on the business. The researchers also wanted to have more sources of water to have unlimited water for the business operation for on-call service. In terms of technical viability, the researchers noticed that surveys help make the business better because the respondents’ ideas and opinions are the best references in improving the business. According to the survey, 41% of the customers want to wash their laundry by hand. Adding a mark-up of 10% will help the business to gain more profit every year and strictly monitor the equipment, supplies, and machines to reduce financial loss or repair of the business. Hence, the proponents are confident in the establishment of W.O.W Laundry Shop in Novaliches Proper, Quezon City because of the results of this feasibility study. This business proposal needs to be carried out and must be realized accordingly.