Fold 'N Dash (placeholder name)

           Hello,

             My name is Jeff, I am 35, an Air Force Veteran, and I am seeking a strategic mentor / partner along with a financial commitment of $300,000. If interested in partnering, I can break down how the $300,000 will be appropriately spent in a more private situation. I have had previous successful businesses - an online business selling air conditioners and a locksmith company.

            Fold ‘N Dash (not a permanent name, just a placeholder) is a laundry service company that will pick up your laundry, wash your clothing, and return them fresh, clean, and folded. Traditional dry-cleaning is starting to fade away because of the unsustainability from the chemicals that are used in the process. Also, laundromats have a 95% success rate over a 5-year period and will continue to see an annual growth rate of 9.4% to 2027 (Grand View Research, 2022). Fold ‘N Dash will combine these features of dry-cleaning and a laundromat while following the DoorDash method - delivering basic tasks that people do not want to do . In the case of DoorDash, that would be delivering cooked food, however, in FnD's case, that would be delivering clean and folded laundry. FnD will have many forms of microtransactions that will appeal to the customer and increase margins. So if a customer wants a splash of Oxi-Clean added to their laundry then that is extra. Maybe the customer needs a rush on their laundry (same day pick up and delivery) and pressing services, then of course that is extra as well. The standard package is free pick-up, next-day delivery (or 2 at the most), a soap pod for washing, and a serving of fabric softener when drying. Then arranging the clean clothes per the customers’ request. Rather that request is to have everything folded in a pile and put back into the delivery bag, or they need some clothes on hangers right away after washing/drying. 

            The mission statement of FnD is, “To make your laundry day stress-free so you have more time for family”. In order to make FnD a nationwide company, brand awareness will be the most important marketing goal. Starting at a small scale, having FnD be recognized locally will be a step in the right direction. Since this would be a “new industry” with very few market participants, being a part of early mover advantage will help FnD achieve the growth that is needed.

          The other major goal would be to acquire many customers since this is an industry that will rely mainly on volume. Since laundry is considered such a grueling task, especially for large families, this business would take advantage of that fact, and will be able to acquire customers at a decently fast rate. The typical FnD customer is a household, meaning 2 parents and 2 kids, that has a combined income of, at least, $75,000 a year. This income threshold should allow for disposable income to be budgeted for a “needed” service so that customers can have more, much needed, free time in their lives. Another demographic would include single people who are homeowners, since their income is relatively high (not necessarily meeting the $75,000 threshold) for being a single person. Single homeowners tend to be just as busy as full households since they do not have another person to help do some of the needed tasks. Another type of customer would be single women, preferably with kids, since women make up 80% of the consumer base and taking care of kids is hard work (no income threshold here).

          This service will work because (1) the “Amazon Economy” is here to stay and starting to become more prevalent with each passing year. (2) People, in general, are lazy and are willing to overpay for convenience (DoorDash). (3) Laundry is a mundane and tedious task that a lot of people do not want to do because of the sheer volume of clothes they need to launder, or life stressors that make laundry a low priority. (4) No other laundry service offers pick-ups and delivers for free – of course this cost is priced into the pricing that the customer views. A lot of households, like a company, outsource their problems – yard work, air conditioning, plumbing, general repairs, cleaning, and much more. There are already chores that are outsourced, and laundry is one of the biggest chores that receives the most complaints - besides cooking, and DoorDash already has that market. All these reasons are why Fold ‘N Dash will be welcomed with open arms into households.