iSupply Beauty | Application Preview
iSupply Beauty is seeking government grants to support its business operations, specifically for rent, payroll, inventory, and advertising. The owner plans to enhance growth by consistently advertising and staying updated on beauty trends while also developing strategies to attract a broader audience. The goal is to open two additional store locations in the city to better serve the community's needs.
The application emphasizes the essential nature of beauty products in people's lives, particularly for women dealing with issues like hair loss due to medical conditions. By offering a range of products including wigs, hair care items, and accessories, the store plays a vital role in the community. The owner notes that a successful investment would not only benefit the business but also provide a welcoming shopping environment where customers feel valued and appreciated.
In terms of competition, iSupply Beauty faces challenges from several other beauty supply stores. However, the owner believes that personal experience as an African American woman and a commitment to customer service sets iSupply Beauty apart. The store's inviting atmosphere and strong community support further enhance its competitive edge, as customers express a desire for more locations.
Overall, the application argues that funding will enable iSupply Beauty to maintain its quality service, expand its inventory, and meet the demand for beauty products in a way that supports and uplifts the community.
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General Information
Business Registration Number: 86-3584989
Location: Winston salem, NC, United States
Length of Operation: 1-5
Number of Employees: 1-10 Employees
Annual Gross Income: $100k to $250k
Annual Gross Expense: $100k to $250k
Open to Loans: YES
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Funding Usage
Funds will go towards: Rent, payroll, inventory and advertising.
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Business Plan
I plan to grow my business by being consistent with advertising. Making sure that I stay up to date on the latest trends to continue to accommodate my target audience. And formulate new strategies to accommodate others outside of my targeted audience. My ultimate goal is to have at least 2 more store locations in my city. My community desperately needs it. As a beauty supply store owner, I've learned that this day in time beauty products are essential. Women can't live without them. I supply wigs, hair care products, hair tools, accessories and so much more. Whether one is going hair loss due to underlying diseases such as alopecia and cancer (chemo therapy) etc. or just maintaining self care. Knowing that I am providing my community with products and service that they greatly appreciate is not only rewarding but it's very motivating. I will continue to push for my community. Overall, I have the support behind me, maintaining it is the key factor. This sort of business takes a lot of money because there are so many different products and changes in trends to keep up with. Investing in my business would not only help me but most importantly help my community be able to shop in peace and where they are appreciated. And it will help me build my inventory even more and help open another store.
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Self Identified Competition
Beauty Touch- Asian owned. They carry some of the same products that my store carries. They are known for being very disrespectful to customers. They have bad Google reviews. Ego Beauty Supply- Arabian owned. Carry majority of the same products that I carry plus more. Bigger store. 3 locations in the city. They have mixed reviews from customers. The community have protested against them due to numerous assault incidents between the owner, employees and customers which can be found in the news on Google. Beauty World (Beautisa)- Asian Owned. They have mixed reviews. Have been in business for decades. Carry majority of the same items that my store carry. I'm different from my competitors because I am an African American woman. We are the number one consumers in the beauty industry. I have been using these products my entire life, my knowledge comes naturally. These customers are depending on me to provide and guide them. My store is very nice, clean, neat, welcoming and aesthetically pleasing. Unlike most beauty supply stores. My community absolutely love it here at iSupply Beauty. They are rooting me. So many people come from different areas asking me to bring another store to their area. They are grateful to have other store options because for so long they had no choice but to shop where they were not appreciated, they shopped at these places for the convenience. I genuinely love and appreciate my customers. And with all the love and support that I've received from them, my community deserves even more of iSupply Beauty.
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Contact Applicant
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