Tom's Bargain Spot | Application Preview
Tom's Bargain Spot is applying for government grants to sustain its operations amidst challenges brought on by the coronavirus pandemic. The funding will primarily be used to cover rent and support family expenses, including mortgage and utilities. The owner expresses concern about the risk of losing a long-standing family business, especially as a new entrepreneur navigating tough times.
The business plan focuses on expanding inventory within the 20,000-square-foot space, aiming to enhance its status as a local favorite while continuing to provide support to families in need. The owner highlights that Tom's Bargain Spot offers both new and used products at affordable prices, distinguishing it from larger competitors like Walmart and dollar stores.
The competitive edge lies in the store's personal touch, with customers often recognized by name. Tom's Bargain Spot prides itself on being a community-oriented business that collaborates with local welfare units and charities to provide assistance, ensuring fair practices and support for the less fortunate. The application emphasizes the importance of funding to maintain this community-focused mission.
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General Information
Business Registration Number: 83-1169380
Location: phelps, NY, United States
Length of Operation: 4
Number of Employees:
Annual Gross Income:
Annual Gross Expense:
Open to Loans: YES
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Funding Usage
I plan on paying the rent to keep this building. Also, plan to use it for home expenses as I have a family, mortgage, utilities, Vehicle payments etc. The coronavirus has affected my life and business in a very negative way. I would hate to lose my family business that has been around for many years. As virtually a new business owner this makes me extremely scared!
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Business Plan
Expanding and bringing more inventory in the 20,000 sqft building. This business is a local favorite. We have helped many families in need also with more inventory we can keep the business localized. I am a small business that helps many families in need. We sell new and used products at a fraction of the cost of big businesses.
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Self Identified Competition
Walmart, dollar store, real deals. We are just a mom and pop store. Most of our customers know us by name. We are not the average business we help people, give people fair business and always help the less fortunate working along side of the welfare unit and charities providing vouchers to all.
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Contact Applicant
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