FEASIBILITY STUDY FOR LAUNDRY SERVICES IN CHENNAI
Client
The client aims to establish a chain of laundry outlets in Chennai, offering high-quality and accessible laundry services to meet the needs of local residents and working professionals.
Overview
The study’s objective was to evaluate the feasibility of launching these laundry outlets by analyzing market demand, competitor landscape, and consumer preferences. The study focused on understanding consumer needs, competitive presence, and the overall growth potential for laundry services in Chennai.
Approach
To achieve the objectives, we divided the study into three key modules:
- Industry Overview
- Conducted secondary research on the laundry sector, covering industry trends, consumer behavior, and key success factors.
- Assessed market demand based on urban population growth, lifestyle changes, and the increasing need for convenience-based services.
- Competitor Analysis
- Developed competitor heat maps to understand the distribution and density of existing laundry services in each cluster within Chennai.
- Audited competing laundry outlets, assessing their service quality, pricing, and customer engagement strategies.
- Consumer Research
- Conducted a survey among regular users of laundry services.
- Gathered insights into consumer preferences, frequency of service usage, pricing expectations, and service quality expectations.
Outcome
The study provided key insights and recommendations for the client’s laundry business:
- Consumer Segmentation: The target audience was segmented based on usage frequency, service expectations, and budget, allowing for a tailored service approach.
- Competitive Positioning: Identified areas with high demand but fewer service options, providing opportunities for market entry. The competitor audit also highlighted gaps in service quality, indicating a potential differentiator.
- Market Potential: The study validated strong demand for reliable laundry services, with a willingness among consumers to pay premium prices for higher quality and convenience.
- Recommendations: Based on the findings, we recommended service offerings, pricing strategies, and target locations that maximize outreach and customer satisfaction.
