The Indian economy has been witnessing market uncertainties from time to time as in the recent past being plagued by Demonetisation in 2016, Introduction of new GST rules in 2017, Lockdown due to Covid Pandemic in 2020 and again Lockdown due to second-wave of Covid pandemic in 2021. Such events have led to an uncertain economy or in other words moved the economy into a recession (when overall earning potential of a market reduces or when the total value of the market decreases). In these challenging times, many aspiring entrepreneurs are interested to know if there are any business ideas that are minimally impacted or not impacted at all by recession or lockdowns. Well, one such business is Laundry and Dry cleaning business. Laundry and Dry Cleaning business service is basically the service of cleaning fabrics for the customers. This is a daily need service, be it summer, winter or rains. Irrespective of season or weather, the demand for fresh clothes daily stays consistent and is independent of economic swings. Moreover, Covid pandemic has increased our sense of hygiene and cleanliness, thereby creating a higher demand for fresh clothes. During Lockdown or recession, customers can stop buying clothes but they would still want to keep their existing garments clean. This makes starting a business in the laundry industry a great option for budding entrepreneurs as it is one of the recession-proof businesses around the globe and is less hit by the downturn in the economy.

The basic tasks in Laundry and Dry Cleaning business include sorting, washing, extracting, drying, ironing, folding, mending and finally delivery. Though it appears same but Laundry and Dry cleaning involve two totally different processes. Laundry generally involves the use of soap, detergents and water to clean clothes. Whereas dry cleaning requires technical skill and is preferred when the materials to be cleaned are delicate and cannot withstand the tumble of a hand or machine wash. No doubt, cleaning clothes at domestic ambience is quite cost effective but it's not always feasible and due to such circumstances, utilising the laundry service is the best available option for many. Nowadays, hectic unpredictable working schedules with stressful jobs have brought a big change in people’s lifestyle. Their daily busy routine is resulting into lack of time to even complete their household chores. Out of which one of the most important household chores is laundry. Laundry is an essential part of life but a very time-consuming task. Then in some urban areas, cleaning of household cloths became a troublesome affair due to scarcity of water for domestic purpose.

This is why the availability of laundry service is a big stress reliever in today’s fast running lives of working class people. Not only does these services help in saving the time of individuals but it also de-stresses them for the day to give them the time required for focusing on their personal or professional life. These services are also widely in demand in places like hospitals, hotels and other hospitality related business establishments where regular cleaning of fabrics is required. Since everyone prefers clean clothing regularly, more and more entrepreneurs are starting a laundry business. A laundry business can be an easy and profitable business idea to start. The working upper middle class family can be targeted by starting up of small outlets (collection centres) at the city for the services. The upcoming as well as existing hotels and multi specialty hospitals can also be the target market for this business.

Some of the companies operating in the Indian Laundry Service Market are UClean India Private Limited (UClean), Elite Dhobilite Laundry Pvt Ltd (Dobilite), PML Solutions Pvt Ltd (Pick My Laundry), Laundry Project Pvt.Ltd (Wassup Laundry), Jyothy Fabricare Services Ltd.(Fabricspa), Tumbledry Solutions Pvt. Ltd (Tumble Dry), Paramsons Solutions Pvt. Ltd.(Dhobiwala), Caprodo Dry Cleaners (Caprodo), Tresnupog Incomer Services Pvt Ltd.(The Swiss Laundry), The Laundry Basket and Mywash Laundry Services (myWash) among others. The Indian Laundry Service Market was valued at USD 35.83 Billion in FY 2020-21 and is expected to grow at CAGR of 4.96% through FY2026 on account of increasing working class population and rising disposable income. Growing adoption of dry-cleaning and laundry services among consumers as they offer convenience at a reasonable price is driving the market.

With more number of working women in the country coupled with rising spending on clothes and cleaning services, it is expected to further fuel the demand for such services. On-demand laundry services are increasingly becoming popular as they follow an efficient full-cycle approach right from booking via app to pick up, cleaning as per consumers’ instruction and delivering cleaned clothes at scheduled timeframe. Consumers can even get to know about the status of their clothes as they login to their app and get full details about delivery time. The companies operating in this growing market are using strategies such as partnership with local washer-man and introducing app or website based on on-demand laundry in order to register sound returns. Emergence of new start-ups in the laundry market presents an opportunity to register profit, as a result more and more players are entering in this domain.

A Project Report is not only essential for obtaining financial assistance from Bank/ Financial Institution/Funding Agency but also the most important document either to participate in the development schemes of MSME Sector/ Department of Industries or in completing various time consuming government formalities connected with planning and commercial operation of the proposed business project.

This Detail Project Report (DPR)/ Business Plan has been developed in a well-structured PDF Format (Easy to Download, Convert into MS WORD through www.pdftoword.com, Edit for Personalised Customisation and Finally Printing the Report) to be presented as a Ready Project Proposal immediately thereby saving precious time of the promoter in the process of completing requisite formalities in anticipation of setting up the business project. Accordingly, following Project Templates has been deliberately left blank in order to facilitate customisation by the perspective entrepreneurs based on personal requirements and furnish necessary information on actual basis.

§ Project at a Glance                                     :             To be Filled Up as per Personal Requirements.

[Total Capital Expenditure, Working Capital, Estimated Cost of the Project, Amount of Bank Loan, Amount of Equity Capital and Amount of applicable Margin Money Subsidy – (Urban/Rural /General Category/ Special Category)].

§ General Information and Location          :             To be Furnished in the Blank Space.

[Name of the Unit/Firm, Address of the Proposed Project Location, Size of the Space Available and Occupancy under Ownership/Lease Agreement].

§ Promoter’s Background                            :             To be Furnished in the Blank Space.

[Name of the Promoter, Age, Communication Address, Educational Qualification, Work Experience and Special Training Attended, if Any].

 The Project Report/ Business Plan so presented include all the important aspects containing the following details;

CONTENTS

1.   Highlights of the Project

2.   Project Introduction

3.   The Project Proposal

4.   Prospect for Investment

5.   Potential Target Customers/Market

6.   Marketing Strategy

7.   Critical Success Factors

8.   Process Details and Technical Aspects

9.   Installed and Operational Capacity

10. Quality and Standards

11. Raw Materials and Consumables

12. Power and Utility

13. Tentative Implementation Schedule

14. Basis & Presumptions

15. Capital Investment Estimates with Detail Project Economics

16. Computation of Working Capital Requirement

17. Estimated Total Project Investment

18. Proposed Means of Project Financing

19. Estimated Annual Sales Turnover

20. Projected Profitability Statement

21. Calculation of Interest Amount

22. Depreciation Schedule

23. Term Loan Repayment Schedule

24. Debt Service Coverage Ratio

25. Break-Even Analysis

26. Projected Cash Flow Statement

27. Projected Balance Sheet

28. Internal Rate Return

29. Pay Back Period

The presentation also supplements with important facts and useful information covering the areas as indicated below;

1.   Statutory Permits and Business Licenses Required for the Project

2.   Important Steps to Start the Project

3.   Tips to Identify Suitable Project Location and

4.   Smart Tips to Follow for Successful Laundry Business.

LIST OF ENCLOSURES

ENCLOSURE-1: E-BOOK ON SCHEMES FOR MSMEs, MINISTRY OF MSME, GOVT. OF INDIA.

ENCLOSURE-2: SALIENT FEATURES OF MUDRA LOAN SCHEME, MINISTRY OF MSME, GOVT. OF INDIA.

ENCLOSURE-3: FAQ ON MUDRA LOAN SCHEME.

ENCLOSURE-4: BRIEF ABOUT PSB LOANS IN 59 MINUTES SCHEME.

ENCLOSURE-5: FAQ ON PSB LOANS IN 59 MINUTES SCHEME.

Thus the information provided would help in identifying in advance the infrastructure/resources required for the Project and approach the concerned government agencies accordingly. Hence, it becomes a complete document for further action towards realising the dream of becoming an entrepreneur.