Blue Water Group Management,LLC | Application Preview
Blue Water Group Management, LLC is seeking government grants to sustain its operations during the coronavirus pandemic. The funds will be used to retain cleaning staff and maintenance personnel to ensure that all 11 of their rental properties remain in good condition, ready for increased demand once the virus is under control.
The business, which began operations in February 2019 with two short-term rental properties, expanded to nine by the end of that year and currently manages 11 properties, with three more under renovation (currently on hold due to the pandemic). Their growth plan includes adding a minimum of four new properties each year. In 2019, they achieved a 55% occupancy rate and aim to increase that rate by 5% annually.
Approval of funding is justified by their five-year plan, which anticipates that acquiring four additional properties each year will generate an extra $30,000 in income. Furthermore, increasing occupancy by 5% yearly is projected to contribute an additional average of $15,000 annually.
In terms of competition, Blue Water Group currently lists its properties on Airbnb and acknowledges VRBO, Booking.com, and Expedia as major competitors. However, their strategy involves also listing on these platforms, effectively turning competitors into partners and enhancing their market presence.
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General Information
Business Registration Number: Blue Water Group Management,LLC
Location: Brooklyn, NY, United States
Length of Operation: 1
Number of Employees:
Annual Gross Income:
Annual Gross Expense:
Open to Loans: YES
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Funding Usage
During the coronavirus pandemic period, to keep the cleaning ladies and maintenance handyman around, keep all 11 properties maintenance under good conditions to prepare the busiest season comes when the virus been controlled.
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Business Plan
We started the management business 2/2019 with 2 short term rental properties, at the end of year 2019, we had 9 short term rental properties; We have 11 up to 3/2020 and 3 under renovation(It is stop now of cause because the virus). We plan add 4 properties at least every year. For 2019,, our occupancy rate was 55%. our goal is increase the occupancy rate by 5% every year. By our 5 years plan, get 4 more properties a year will bring us $30,000 more income; by increase 5% of the occupancy rate every year, will bring us average $15,000 a year.
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Self Identified Competition
We are now listing our properties on airbnb. The VRBO, Booking.com and Expedit are other three big site for short term rental. We plan to list our property on all three other sites. It will turn the competitors to our partners.
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Contact Applicant
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