Thread by @fimiletoks

Trying to drill down into the laundry business sector in Lagos and the potentials in it.

Middle class clientele structure not the affluent.

Every week I have to 'wash and iron' 5 corporate shirts and 1 traditional attire ( kaftan)

Do we have 500,000 people like me in Lagos?

So I pay N2200 to my Laundry man to get me sorted and n average of 10k monthly most times. My schedule is so tight I can't afford not to cough out this sum to make my life comfortable.
Out of 20m citizens in Lagos, is it possible to have 500,000 people who this amount monthly?

If we do, then we have a 5bn Naira monthly laundry Industry in Lagos. Are there potentials for growth to about 1m customers?

If yes then we can scale to a N10bn industry. N10bn is approx $28m monthly revenue sector.

Approximately $500m yearly. So what are the challenges?

I just have this fear that if we don't get things right, the Indians and the Chinese will come and suck these sectors dry.

Electricity, water, washing machine, Iron, table , soap, stain removals, nylon, hangers, delivery system.

Office location can be your home.

Start up capital..less than 500k.

Draw up a Business Model Canvas for your business ideas today and look at the bigger picture. Numbers don't lie, let the numbers drive your ideas.

God bless..