Anderson Music Inc | Application Preview
Anderson Music Inc. is seeking a government grant to purchase and restore a historic property for conversion into a school space. The objective is to enhance community partnerships with local preschools and Montessori institutions, creating strong referral channels to attract new students aged 3-5, their primary target demographic. The business has revamped its onboarding process for new families to promote long-term retention, which could potentially generate up to $30,000 in revenue per student over several years.
In its first year, Anderson Music has successfully navigated the challenges posed by the COVID crisis, achieving a revenue increase of 90%. Since relocating to a local church basement in September 2020, demand for their services has grown, resulting in their rapid outgrowth of the current space. The company intends to acquire a larger property that would allow for the hiring of additional faculty members and provide more room for students. With this expansion, they estimate potential monthly revenues of $15,000 or more.
Anderson Music's main competitors are local studios offering music lessons, but they stand out by providing Suzuki method string lessons. Their competitive advantage lies in the expertise of their faculty, who are highly trained in education rather than just performance. This focus on teaching means they can offer a higher-quality learning experience, setting them apart from studios that lack a similarly trained staff. Anderson Music aims to foster a vibrant community of skilled young musicians while meeting local demand for quality music education.
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General Information
Business Registration Number: 84-5111823
Location: Westchester, IL, United States
Length of Operation: 1
Number of Employees:
Annual Gross Income:
Annual Gross Expense:
Open to Loans: NO
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Funding Usage
I am hoping for a grant to help purchase and restore a local historic property to be converted into a school space.
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Business Plan
We are in the process of building community partnerships with local preschool and Montessori schools to create reliable referral channels for new students, particularly students in our target demographic of 3-5 years old. We have also revamped our onboarding process with new families to set them up for success and long-term retention. Students in our target demographic set our studio up for up to $30,000 in revenue per student over several years if we are able to retain them long-term. We are also in the process of attracting and hiring high quality faculty members to join us to create space for more students to join our studio. In our first official year in business, Anderson Music has already weathered the storm of the COVID crisis and has emerged thriving - our revenue is up 90% over the past year. Our decision to move into the community we have has filled a need, which means that demand has been increasing steadily over the last 9 months. We moved into the basement of a local church in September 2020 are already rapidly outgrowing that space - the two teachers currently on faculty are already full and unable to take more students, and we only have two rooms available for us to use. We are seeking to purchase a property that would offer space to grow into a faculty of 4+ people who would all have their own designated space to teach concurrently. If we were able to expand, we could reasonably bring in a revenue of $15,000 or more per month, all while providing a valuable resource to the community.
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Self Identified Competition
Our top 3 most immediate competitors are local business offering similar services in the form of music lessons. We offer Suzuki method string lessons specifically. Other studios offer string lessons but are not specifically offering the Suzuki methods. They also offer several other instruments. Their faculty members are often not as highly trained as our faculty, which in our opinion means clients are likely spending more money for less value. Our faculty is highly trained in education, not just performance. This means that our teachers are equipped with tools to help students achieve a high level of skill. The vast majority of studios offering similar services cannot boast a faculty of trained educators - they are mostly performers who teach on the side. For us, teaching is the main endeavor and we take deep pride in fostering a community of young musicians who are able to perform at a high level.
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