Love Hair Collection | Application Preview
Love Hair Collection is seeking government grant funding to enhance its business operations. The funds will be used to increase inventory, possibly introduce new products, and establish an official website. Currently, the business has one volunteer who assists with orders, but with funding, the goal is to convert her into a paid employee. Additional resources will also be allocated for packaging supplies.
The business plan centers on growth through word-of-mouth marketing and exceptional customer service. Funding would enable an investment in higher-quality products, which is currently limited by financial constraints. The owner plans to leverage social media and participate in community events to further promote the brand.
The application highlights the owner's commitment to the business, emphasizing a willingness to learn and adapt. Even though the business is not yet booming, it generates revenue, and consistent growth is a key goal.
In terms of competition, Love Hair Collection faces challenges from established businesses with larger customer bases and higher pricing power. However, it aims to differentiate itself by offering reasonable prices and fostering strong, trusting relationships with customers. This approach focuses on customer satisfaction rather than just sales, creating a more personalized shopping experience.
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General Information
Business Registration Number: 86-1499133
Location: INDIANAPOLIS, IN, United States
Length of Operation: less than 6 months
Number of Employees:
Annual Gross Income:
Annual Gross Expense:
Open to Loans: NO
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Funding Usage
I will use this funding to add additional inventory to my hair business as well as potentially starting to add new items. I will also need to create a official website. I now have 1 person who is helping out now as an volunteer but I would like to turn her into an employee helping me with orders that I have. I am unable to pay her so she helps out of the kindness of her heart. I will also use the funding for packaging that I need to have the items delivered as well.
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Business Plan
I plan on expanding my business by continuing to promote my business through word of mouth and to continue to provide excellent customer service. If I am able to receive the funding I plan on trying to invest in a more quality brand of my product, as of now I am unable to do so because I am so limited with my own funding that I can not afford to purchase the better quality. I also plan to expand my business by using social media, and trying to attend community events and presenting my product. Most importantly I take my business very seriously because it is something I have always wanted to do, just never really had the finances and time to get it started. I always am open to learning new techniques and different ideas. I have a solid business plan in place and know which way I want my business to go and grow. Lastly, even though it hasn't started off booming and just blew up my business still generates revenue. I would like for the revenue to be on a consistent basis day to day, but I understand that there is work that has to be put into it and it will not just grow big over night.
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Self Identified Competition
My top competitors is everyone in the hair business. Everyone has recently started selling extensions and it is high in demand as of right now. My competitors as of now have been doing this longer and have a larger customer base from social media and the areas that they are in. They are also able to sell the same product that I have at a higher revenue and make more on their product and people purchase it without hesitation. As my product is at a lower price and I still have a hard time with people purchasing or trusting in my product. I am different from my competitors in 2 simple ways. The first way is that I sell my product at a reasonable price and I am customer friendly. I engage with my customers and try to figure out the best situation and outcome for them to be satisfied as well as connecting with them on an emotional level. Secondly, try to build a trustful relationship with my customers and let them experience that I am just not trying to sell my product and not just have them spending their money but actually having them invest their money into a quality product.
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Contact Applicant
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