Case Analysis Of Rip And Dry
I. Executive summary
Drip & Dry is a Laundromat that combines both Laundromat and coffee shop services. It is located in Portland, Maine. Drip & Dry recent customers are people, who are in the ranges between 18-51+ years old. Drip and Dry is thrilled to expand by providing variety of food options. Specifically, there is a need to provide lunch and dinner options. For example, Drip & Dry can provide sauce, sandwich, soups and other food options to the customers. Like other businesses, Drip & Dry is working in competitive market from nearby Laundromats. Among the neighboring Laundromats, there are speed queen, Fresh Start, Easy Clean Chenango Econo Wash and Littleton Cleaners. Regardless of this competition, Drip and dry will be successful …show more content…
Business challenges
a. Current situation of the business
Drip & Dry is a business which provides coffee and laundry services. It is a business that is located in Portland. Drip & Dry’s targeted customers are people in the range of 18-51 ages. There are competitors who are around this business, which also offer the similar products. In order to keep the interest of their customers, Drip & Dry has come up with an idea of providing several products.
However, there are possible challenges that Drip & Dry might face while planning new offerings, or while operating. According to the data from the survey, it is clear that great number of customers is the ones who are in twenties. This means that the targeted customers are youths. There is a probability that some of those customers have the ability to wash their clothes by themselves, and save their money for other purpose.
The good news is that Drip & Dry can do what is known as diversification. According to the free dictionary, diversification is “To give variety to” in the context of what Drip & Dry is doing, it is a way of providing different types of products to the …show more content…
Budget
The available funding to market new offerings is $20,000. There are many ways of allocating this funding, but it is important to allocate in ways which are less expensive avoid many expenses.
Here is the proposed plan of fund allocation:
Advertisement tool Cost
Magazine Ad $15,000
Radio Ad $4000 per two weeks
Printed Flyers 1,000 $100 printing costs per flyer
Therefore, it means that 10000 flyers can cost $100
VII. Conclusion
Drip and Dry is a business, which provide coffee and laundry services. It is located in Portland, and has been operating for six month. In order for the business to satisfy their customers, they have done a research, and found that customers like how drip & Dry operates. However, customers suggested some changes, including to provide foods option, and to change the opening time.
Drip & Dry has come up with an idea of diversifying their products, by including snacks like sandwiches. However, the challenge is that there are a number of competitors, who might take all the Drip and Dry customers. In order to overcome this challenge, there are several partners that this business can work with such Coastal Catering, Café Ole- primarily Mexican food, and Slammin’ Sandwich
Drip & Dry is a Laundromat that combines both Laundromat and coffee shop services. It is located in Portland, Maine. Drip & Dry recent customers are people, who are in the ranges between 18-51+ years old. Drip and Dry is thrilled to expand by providing variety of food options. Specifically, there is a need to provide lunch and dinner options. For example, Drip & Dry can provide sauce, sandwich, soups and other food options to the customers. Like other businesses, Drip & Dry is working in competitive market from nearby Laundromats. Among the neighboring Laundromats, there are speed queen, Fresh Start, Easy Clean Chenango Econo Wash and Littleton Cleaners. Regardless of this competition, Drip and dry will be successful …show more content…
Business challenges
a. Current situation of the business
Drip & Dry is a business which provides coffee and laundry services. It is a business that is located in Portland. Drip & Dry’s targeted customers are people in the range of 18-51 ages. There are competitors who are around this business, which also offer the similar products. In order to keep the interest of their customers, Drip & Dry has come up with an idea of providing several products.
However, there are possible challenges that Drip & Dry might face while planning new offerings, or while operating. According to the data from the survey, it is clear that great number of customers is the ones who are in twenties. This means that the targeted customers are youths. There is a probability that some of those customers have the ability to wash their clothes by themselves, and save their money for other purpose.
The good news is that Drip & Dry can do what is known as diversification. According to the free dictionary, diversification is “To give variety to” in the context of what Drip & Dry is doing, it is a way of providing different types of products to the …show more content…
Budget
The available funding to market new offerings is $20,000. There are many ways of allocating this funding, but it is important to allocate in ways which are less expensive avoid many expenses.
Here is the proposed plan of fund allocation:
Advertisement tool Cost
Magazine Ad $15,000
Radio Ad $4000 per two weeks
Printed Flyers 1,000 $100 printing costs per flyer
Therefore, it means that 10000 flyers can cost $100
VII. Conclusion
Drip and Dry is a business, which provide coffee and laundry services. It is located in Portland, and has been operating for six month. In order for the business to satisfy their customers, they have done a research, and found that customers like how drip & Dry operates. However, customers suggested some changes, including to provide foods option, and to change the opening time.
Drip & Dry has come up with an idea of diversifying their products, by including snacks like sandwiches. However, the challenge is that there are a number of competitors, who might take all the Drip and Dry customers. In order to overcome this challenge, there are several partners that this business can work with such Coastal Catering, Café Ole- primarily Mexican food, and Slammin’ Sandwich