Acker | Baker | Hennessey | Summa | Xiong

Spin - Local Laundry Service Platform

- A peer-to-peer marketplace to
connect laundry service
providers with customers
- Seeking advisors and seed
funding to launch the venture
Spin - Local Laundry Service Platform
Spin - Local Laundry Service Platform
Spin - Local Laundry Service Platform
Spin - Local Laundry Service Platform
Spin - Local Laundry Service Platform
Solution
Traction
Market Research

- Colleges and universities account for prominent share of demand for laundry
services industry
- Sales to this market are estimated to account for 13.9% of industry revenue in 2018.” (IBISWorld

Survey Data

- Most respondents who have laundry complaints are living in dormitories and
have to use campus laundry facilities
- Major complaints: folding, sorting, time needed, quarters, etc.
- In other words: everything
Traction
Current status

- Validated the app/service solves multiple customer pain points

- Provides quick and affordable laundry service with fastest turnaround time
- Provides opportunity for college students to make extra money, without leaving their dorm

Sales Process

- Spin acts as a marketplace platform to connect laundry service providers to

customers in a peer-to-peer fashion
- Allows for quick connections between customers and providers
- Easily repeatable and scalable operations due to no physical infrastructure needs
Customers
- Target Segment: college students and young adults living in dormitories or
apartment complexes
- Marketed heavily through social media platforms (e.g. Facebook, Instagram)
- Customers are likely expected to use Spin for 1 - 4 years as a result of turnover
with incoming and outgoing students
- The number of college students is expected to increase at an annualized rate
of 1.4% through 2023
Go To Market Plan
1. Acquire needed capital
2. Fully develop app
3. Promote app through strong marketing campaigns on college campuses
4. Launch app for college students living in dormitories at Penn State and Ohio
State
5. Continuously improve app based on widespread user feedback
Competition
- Self-washing
- Requires in-residence washer and dryer
- Chute & Lazy Lion
- Pickup-and-Delivery style laundry service

Convenience
- Centralized cleaning location
- Two day turnaround time
- Pricing by weight of laundry
- Traditional laundromats
- Coin-operated units in a central location
Affordability
- Requires personal detergent and other supplies
- Requires traveling and waiting
Financials
Business Model
- Revenue generated through booking fees,
laundry service fees, urgent laundry fees,
and monthly provider fees
- Spin retains the entirety of booking fees
and monthly provider fees, and takes a
percentage of laundry service and urgent
laundry fees
Funding and Projections
- Requires $65K in exchange for a 25%
equity stake in Spin
- Development of app platform
- Marketing
- Capital (servers, software, hardware,
etc.)
- Fast growth for sustained first-mover
advantages
- Break-even after one year (2 months
development + 10 months operation)
- Based on starting at two universities and
growing to eight over the course of five
years
Future Plans
- Expansion to colleges, universities, and apartment complexes in and around
Pennsylvania
- Pitt, Temple, Drexel, Widener, Rutgers, Maryland, etc.

- Expansion to areas outside of the North East US

- Michigan State, Clemson, Georgia State, Purdue, Iowa, etc.

- Make Spin a well-known brand and trusted laundry service provider for college
students living in dorms all over the US
- Maintain high quality control standards
- Strong marketing campaigns
- Fast growth to stay ahead of competitors
 Team
David Acker Robert Baker Shane Savannah Summa Julie Xiong
Hennessey
Finance Major Agribusiness Graphic design Graphic Design
Energy, Business, major/ Arts
and LEBUS Minor Management major/ Digital
Finance Major
Major entrepreneurship entrepreneurship
Experience in and innovation and innovation
Previous startup
Product 3+ years Quality experience minor minor
Development Assurance
experience Connections with Experience Experience in
Experience in Happy Valley working as a studying abroad
Consulting Case 7+ years project LaunchBox graphic designer in Singapore
Presentations management with a marketing Management
Operations and
experience department University
Analysis