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Copy of Quality Touch Carpet Cleaning Inc.

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Kory Ebel

on 5 April 2013

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Transcript of Copy of Quality Touch Carpet Cleaning Inc.

Inc. Executive Summary The Business Mission Objectives Company Description Quality Touch Carpet Cleaning Inc. is business venture owned and created by five owners. We will provide quality carpet cleaning at a competitive and affordable price to industrial and residential areas in Edmonton. Ownership We are a carpet and upholstery cleaning business located in Edmonton, Alberta.
Our main focus is providing our customers with the utmost service.
We use effective cleaning products that are gentle for use on any type of material, yet completely environmentally friendly and biodegradable.
Quality Touch provides services to commercial, residential, and non-populated residual, rugs and upholstery cleaning. Grow company by 5% annually.

Win a Consumer’s Choice Award in 5 years.

In 5 years we aim to have a 10% market share in residential services.

Be recognized as a company that treats customers with care and respect. At Quality Touch Carpet Cleaning Inc. our mission is to provide quality customer carpet cleaning service while maintaining a competitive, yet affordable price. Our service will come with a satisfaction guarantee. We are also committed to being a socially responsible company by using eco-friendly cleaners and donating 3% of our annual profits to a local charity. The five owners will have 20% of the company each meaning that at least 3 of 5 people must agree on an idea in order to implement it.
We have decided to incorporate in order to reduce personal liability. Start-Up Summary The total start-up liabilities and shareholder’s equity for Quality Touch Carpet Cleaning Inc. consists of $50,000 in shareholder’s equity, $75,000 in a bank note, for a starting balance of $125,000 cash.

The bank note is on the terms of 3.5% interest on the loan over the next five years. Start-Up Expenses Legal costs.....................................$1,500
Office supplies................................1,800
Insurance.........................................3,000
Rent (first month/deposit)............4,800
Equipment.....................................63,137
Marketing tools...............................2,550
Personal protective equipment......3,250
Total start-up cost.......................$80,037 Products and services Quality Touch Carpet Cleaning Inc. will not offer any products for retail but focus only on providing quality cleaning services to its clients.
We will focus on providing client-catered cleaning while using the highest quality industry grade products, and provide samples in order to help our suppliers gain exposure with their products.
Our carpet cleaning company prides itself in the highest quality cleaning and service, therefore whenever there are new products, equipment or breakthrough methods in the market we will be the first to know in order to keep up with the industry. List of Services Types of services:
Carpet cleaning
Upholstery cleaning
Area rug cleaning
Tile cleaning
Hardwood floors Methods used in cleaning:
Hot water extraction
Bonnet/Manual Scrubbing Added services:
Scotch Guard Protection
Vacuuming Carpet cleaning:
Residential (occupied)($/sq.ft.)...........0.30
Residential (unoccupied).....................0.25
Commercial...........................................0.25

Rug cleaning:
Synthetic rug ($/sq.ft.)..........................1.00
Natural rug ($/sq.ft.).............................1.75

Furniture cleaning:
Sofa ($/linear ft.).................................20.00
Chair ($/linear ft.)...............................55.00
Dinning chair ($/chair).......................11.00

Leather:
Sofa ($/linear ft.).................................18.00
Chair ($/chair).....................................55.00 Market Analysis Many commercial and residential buildings have portions of their flooring as carpet.

Over time, carpets accumulate dirt and become infested with contaminants that pose a health risk to individuals in the building. Market segmentation Rug cleaning:
Rugs are typically associated with being dirtier than other pieces of furniture, we will advertise our cleaning service as a regular maintenance necessity to this segment
Furniture cleaning:
As the main source of revenue for our company, furniture ads will be run in the highest volume and will promote our cleaning service as a way of extending the life of each piece of furniture and to rid the furniture of any unwanted foreign matter.
Carpet cleaning:
We are carpet experts that will provide a deep clean while also being very careful not to damage any of the many different types of carpets we service. Since common vacuums do not remove dirt, hair, dead skin, and/or soil that is deeply embedded in carpets, we will point out that our service can in fact remove almost all of contaminates as well as providing an extended life on the carpet. Target Market Commercial Commercial buildings include such venues as schools, stores, movie theaters, restaurants, and offices.

Our marketing focus for the commercial segment will be on the removal of dirt, grit, sand, and allergens to create a healthier atmosphere for employees and consumers. Residential We service residential venues, both unoccupied and occupied. These venues include apartments, condos, and housing units.

We will also promote our service as a means of making carpets more visually pleasing, smelling, and a longer lasting life. Environmental Factors Our cleaning supplies and equipment are completely biodegradable and eco-friendly the product is also safe for humans and pets making the soap safe for all.We deal directly with manufacturers to obtain the best purchase price possible by establishing an on-going business relationship for future transactions.And our marketing department also has extensive knowledge of the local Edmonton area.
We have a limited number of staff (founders only at present), as well as a lack of loyal customer-base. There are relatively few organizations employed in the carpet cleaning industry around the Edmonton area.
Alberta Carpet Cleaning is our largest competition within our industry in Edmonton.
By promoting ourselves as carpet cleaning and upholstery specialists, we can divert the public focus on ourselves as being more knowledgeable and efficient in providing quality carpet cleaning services. Competitive Analysis Promotional Strategies Groupon.com We plan on promoting 60% off groupon in the month of June. This will increase our customer awareness and customer base, as the good deal will draw in a variety of customers. Kijiji.ca We feel that Kijiji.ca will be a good match for our advertising as it is cost effective and can be localized to Edmonton and surrounding areas. We will pay $53.99 a month to have our ad at the top of all cleaning services pages. Another great advantage to Kijiji is that on every ad we post we can see how many people are viewing it to get a sense of our market. Yellowpages Having our company advertisements included in the Yellowpages gives the option of looking up our business physically Care packages These care packages will consist of free samples, carpet cleaning facts and coupons for our cleaning services. Carpet cleaning facts will be used to help educate customers more about their home and our services. We feel that these are a good tool to educate, recruit and keep customers satisfied. Home and Garden
Shows & Expos Home and garden shows are a great way to educate our customers and to gain awareness in the market. Customer loyalty We are planning on implementing a customer loyalty program that will serve as an incentive that will turn our one-time-only customers into repeat customers. For every 3 cleanings they receive, we will give them 50% off the fourth. Quality Touch Website On the site we will have important information such as contact numbers, address, and a section for requesting a free in-home quote. Financial Plan The additional loan from the bank will help to provide cash for start-up costs as well as enough cash to develop our band name and grow the company more quickly. Financial Assumptions: Houses cleaned in a day................................4
Average size of a house cleaned(sq.ft).....400
Average working days in a year...............275
Average rugs in a house(sq.ft.)...................15
Average sofa length(linear ft.)......................7
Average chairs in a house..............................1
Average dinning chairs in a house................3
Eco-friendly wash solution will cost $3.96/L
The bank note interest rate is 3.5% Financial Analysis Break-even point The fixed monthly costs for Quality Touch Carpet Cleaning Inc. are $26,884 per month and the variable costs are $7,568 per month, so the break-even point in sales is $34,462. Predicted Revenue Return On Investment Direct Labour Costs Direct Material Costs Variable Overhead Fixed Overhead Selling and Administrative Expenses Statement Of Retained Earnings Budgeted Balance Sheet Long Term Financial Remarks The members of Quality Touch Carpet Cleaning Inc. will strive to achieve our goal of a 5% sales revenue growth per year.
We plan to buy another truck making the equipment purchase again in 2015 if all the goals are met in 2014.
We will continue to grow the company and not pay dividends until we reach all our goals we have set to date.
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