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A Convertible Note is debt that converts to equity. If you invest, you're betting Laundry Hero Inc will be worth more than $5M in the future.
When Steve Liotta spoke to Nick Napolitano about his idea of creating ‘the Uber of laundry service, both were surprised upon further investigation that the idea and market space has yet to be owned, seeing that doing laundry is an endless chore quite universally derided. Leaning on their years of partnership and friendship, they cultivated a business model to provide a practical solution to benefit all.
Each commercial venture Steve & Nick have ever undertaken places a premium on two groups: the customers they seek to serve and the employees that will deliver the service or create the product. After regional & national market analysis, focus group research across a wide swath of demographics, and field testing involving a limited-scale version of Laundry Hero, the following B2C and B2B segments have all shown highly significant potential:
B2C: College students| Single Young Professionals|Young professional couples w/o children|Families w/ children|Neighborhood Associations|Apartment complex residents|Seniors & others with mobility issues
B2B: Supported Living Facilities|Food Service & Restaurants|Salons & Spas|Day Care Centers| Educational Facilities|Country Clubs|Educational Programs|Airbnb Rentals|Various Retail Operations
We have also had a highly enthusiastic response from our contractors, whom we refer to as ‘Heroes.’ Laundry Hero is an ideal job for those who enjoy the freedom & flexibility related to rideshare models, app-based commerce, and work-from-home positions. The Hero’s role is vital as the relationship between a customer and his or her launderer demands an important level of comfort and trust.
The combination of earning good wages plus tips, working from their own residences, and flex scheduling adds up to strong work-life balance – one of the highest priorities of job seekers in the tight labor market. Heroes are given clients, but those who have a strong entrepreneurial spirit can also build their own clientele list, so their brand growth and earnings are directly tied to their effort.
Many of our Heroes have told us that the opportunity to be rewarded based on their work ethic is a highly attractive feature of working for Laundry Hero. The true beauty of the business model is that as our Heroes thrive, so do our customers and our company.
Forward looking projections cannot be guaranteed.