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May 19, 2024, 3:31 pm UTC

152535364 | Government Grant Application

Mirror Mode Fit LLC | Application Preview

  • General Information

    Business Registration Number: 152535364

    Location: Easley, SC, United States

    Length of Operation: 1-5

    Number of Employees: 1-10 Employees

    Annual Gross Income: Less than $100k

    Annual Gross Expense: Less than $100k

    Open to Loans: YES

  • Funding Usage

    A strategic allocation of $20,000 towards manufacturing expenses underscores our commitment to optimizing production capabilities, ensuring high-quality products, and potentially achieving cost efficiencies. This focus on operational excellence is complemented by a judicious distribution of the remaining funds across crucial business facets. A portion is dedicated to website development, aiming to enhance user experience and boost online sales. Additionally, investments in packaging and shipping, insurance, and marketing expenses demonstrate a comprehensive approach to both customer satisfaction and market visibility. This balanced allocation reflects our commitment to strengthening production and simultaneously fostering a robust online presence, laying the foundation for sustainable growth and enhanced market competitiveness.

  • Business Plan

    Over the next five years, the business envisions a robust growth trajectory, forecasting a steady increase in product sales from $106,200 in the first year to $354,000 by the fifth year. Despite accounting for returns, the company anticipates maintaining a consistent gross profit margin ranging from 70% to 75%. Operating expenses, including Shopify and domain fees, insurance, marketing, and labor costs, are expected to rise, particularly in Year 3. However, the business projects a resilient recovery in subsequent years, ensuring positive net income margins ranging from 23% to 47%. This comprehensive financial plan reflects a strategic approach to cost management, resulting in a profitable outlook for the company as it navigates through the next five years. Investors should view Mirror Mode Fit as an investment opportunity that uniquely combines style, sustainability, and a passionate entrepreneurial spirit. As a recently graduated three-sport athlete and female founder, I bring a firsthand understanding of the intersection between fitness, fashion, and the desire for eco-conscious choices. Mirror Mode Fit's commitment to sustainability is a key differentiator, as we prioritize using recycled materials in our activewear. This not only aligns with the growing global emphasis on environmental responsibility but also positions us at the forefront of the sustainable fashion movement. Investing in Mirror Mode Fit means supporting a venture that embodies the ethos of the modern consumer – someone who values health, style, and environmental consciousness. The market for sustainable activewear is expanding rapidly, and our brand is well-poised to meet this demand with innovation and a dedication to eco-friendly practices. Mirror Mode Fit is not just a brand; it's a representation of a healthy and sustainable lifestyle, driven by a passionate entrepreneur who understands the industry from both an athletic and business perspective.

  • Self Identified Competition

    Gymshark: Gymshark is a well-established player in the activewear industry known for its trendy and stylish fitness apparel. They have built a strong online presence and a dedicated customer base. Gymshark offers a wide range of activewear for various fitness activities, catering to both men and women. AYBL: AYBL is another prominent competitor that focuses on providing activewear with a strong emphasis on style. They offer a diverse range of fitness apparel for both genders, combining fashion-forward designs with functionality to attract fashion-conscious fitness enthusiasts. Outdoor Voices: Outdoor Voices is recognized for its commitment to inclusivity and comfort in activewear. They prioritize creating clothing that makes people of all shapes and sizes feel comfortable and confident while staying active. Their approach appeals to individuals seeking a more inclusive and body-positive activewear experience. Mirror Mode Fit is committed to environmental responsibility, incorporating recycled materials into our activewear production. This dedication to sustainability not only aligns with the growing global emphasis on eco-friendly practices but also caters to an increasing consumer preference for environmentally conscious brands. Our use of recycled materials reflects a forward-thinking approach that resonates with individuals seeking both style and ethical responsibility in their activewear choices. Unlike traditional activewear brands that often focus on individual preferences, Mirror Mode Fit emphasizes inclusivity by offering coordinating activewear for couples and friends of any gender. This partner-centric approach sets us apart, recognizing the social aspect of fitness and providing a unique opportunity for couples and friends to express their shared commitment to an active lifestyle through matching, stylish outfits. This innovative concept fosters a sense of unity and motivation within workout partnerships.

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