The Loc Bar | Application Preview
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General Information
Business Registration Number: 202202211567845
Location: Noblesville, IN, 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
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Funding Usage
Rent/lease Utilities Salon supplies Marketing and advertising Insurance Equipment and furniture License and Permits Training and Education Booking systems Maintenance for the salon’s physical infrastructure
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Business Plan
My plan to grow my business is to rent 4-6 salon suites within the salon. The revenue saved will be used to add a second location which will employ an additional 15-20 suite owners within Hamilton County. I have worked in the beauty industry for 30 years. I have had the opportunity to work in beautiful salon settings, building my “craft” and being open to learning how to care and excel in all hair textures. In 2014, I suffered a freak accident in which I had to step away from the chair for two years to heal. During that time, I decided to go chemical free with my own hair and discovered the lack of natural hair salons for Afro textured hair in the community in which I live in. Fast forward to 2020, I took a leap of faith and rebranded myself and The Loc Bar was born. I currently have 150+ clients who i have helped to cultivate their lock and natural haircare journey. I currently lease a small yet beautiful space in Fishers, IN, which my clients adore. I am asked time and time again why haven’t I opened a larger space. I currently have a waitlist and many inquiries per week for my services that could help grow future employees business . I want my clients to experience luxury and pampering without having to drive 20+ plus miles into the city of Indianapolis. Many families of color live and work in Fishers IN and are also experiencing a lack of diverse options in hair care in their community. Investors should invest in my business so I can help bring more diversity through my business and help build the lack of Afro hair services in my community.
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Self Identified Competition
I don’t have any competitors in my area. Salon suites are full and all are on waitlists. There are no salons in my area that specialize in Afro textured hair. What makes my business different is the lack of Afro textured salons in my area that specialize in luxury natural haircare services. There are no salons available that offer a variety of services for Afro textured hair such as haircuts for coily hair, SisterLocks TM which are cultivated by a certified consultant, walk in shampoo services for Afro textured and Locked hair. SisterLocksTM services also are highly sought after with clients who suffer from alopecia.
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