CleanMyCar – A mobile, on-demand car cleaning service
Sommersemester 2020 - CleanMyCar
The project was part of the course “Business Planning” at the Institute of Entrepreneurship & Innovation. The starting point was the business idea of revolutionizing car washing services. The idea was brought up by three ambitious businessmen who outlined the basic principle and the main challenges the project may face.
Traditional car washing at gas stations is considered by many people as boring and time consuming. CleanMyCar solves that problem by providing a mobile car-cleaning platform using a similar concept as Uber. The user simply orders the desired car washing service via smartphone and waits for a car cleaner to come to the indicated location. The advantage to the traditional service is that it can be ordered wherever and whenever it is needed.
The idea was at a very early stage. Therefore, we had to develop and refine all different parts of the business model. The first challenge was to check the feasibility of the project through researching legal barriers and potential showstoppers. Additionally, we had to find out customers willingness to use the service as well as their willing to pay, and develop an adequate pricing structure. A further crucial goal was to create a suitable go-to-market plan to foster the quick growth of the company and to build entry barriers for potential new competitors.
After checking the feasibility, we conducted a market survey to estimate the potential market size and the price a customer is willing to pay and to analyze customer needs and preferences. Furthermore, we analyzed key stakeholder groups such as suppliers, competitors, and employees through extensive research. For the financial projections, we developed a balance sheet, P&L, and Cashflow statement for the upcoming three business years.
For safeguarding the legal applicability of CleanMyCar we outlined a few points that have to be met and gave recommendations on how to best address them. The market survey was used to find a pricing strategy that suits the willingness to pay of the customer and maximize the revenue. Furthermore, we researched the potential market demand and the key attributes the service should have. After conducting an in-depth competitor analysis, we identified the most important global players as well as the biggest competitors on the European market. Furthermore, we developed a strategy to enter the Viennese market and recommendations for the quick scalability of the business into other attractive markets.
Lastly, we calculated the most important financial KPIs that give an outlook of the profitability of the concept.
Peter Fuzes, Jan Häupler, Daniel Mattos