SB PACE | Application Preview
SB PACE is applying for government grants to secure additional funding as the business expands. The current growth trajectory is anticipated to double revenue within the next year, following a slow start in 2020. The funds will be utilized to sustain operations, including compensating partners, covering expenses, and maintaining salaries to alleviate financial strain.
The business plan includes transitioning an intern to a part-time employee and enhancing marketing services as financial resources allow. SB PACE aims to maintain a small team of 8-10 employees and targets revenue around the $1 million mark. They are developing a popular podcast and a catalog of online courses to strengthen their brand without increasing staffing needs.
The funding request emphasizes the firm’s commitment to assisting small businesses with affordable services and their unique expertise drawn from backgrounds in Fortune 500 and Big Four consulting. Many clients are solopreneurs or very small business owners seeking guidance to establish their operations.
The competitive landscape is saturated with various coaches and consultants, with two specific competitors noted: Wells Coleman and Levin Group, the latter catering primarily to the dental sector. SB PACE plans to leverage its connections in the dental industry to stand out.
The company's competitive edge lies in its extensive experience across crucial business areas, enabling a general contractor approach. By outsourcing to partnered experts while managing the relationship, SB PACE simplifies the process for clients, allowing them to work with multiple service providers through a single point of contact. This model is aimed at building robust small businesses while fostering a supportive network.
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General Information
Business Registration Number: 85-1781518
Location: Richmond, VA, United States
Length of Operation: 1.5
Number of Employees:
Annual Gross Income:
Annual Gross Expense:
Open to Loans: YES
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Funding Usage
We have been growing as a business and are looking for additional capital to help keep us afloat in the short term. Our revenue is on track to double in the next 12 months. The first year of business (2020) was slow, but we picked up significantly this year. We will use the cash to continue to pay our partners to work with our clients, cover some of our expenses, and to continue to pay ourselves so that we don't have to continue to scrape together cash every month.
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Business Plan
We currently have an external vendor performing marketing duties for us as well as an intern who we'd like to convert to a part time employee. Once we get to a financial point that we can bring them both on, we will grow our marketing services to our clients. We don't plan on getting much larger than we are - Maximum of 8-10 employee including the 2 of us. We'd like to see our revenue around the $1MM mark. We have a podcast that is becoming more popular and have a catalog of online courses that we will continue to build out to build our brand without having to require more staff to support that. We work solely with small businesses who need the extra help that they really can't afford. We offer reasonably priced services aimed at making entrepreneurs' lives easier. We're a boutique firm with a background in Fortune 500 and Big Four consulting. We bring that big business experience and knowledge to small businesses who need it the most. About half of our clients are solopreneurs or other very small business owners who have left the corporate world behind to start their own journey. We help them build a strong business.
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Self Identified Competition
https://levingroup.com/ https://www.wellscoleman.com/services/consulting-services/ We are in a very saturated industry. Just about everyone calls themselves a coach or consultant these days, so it's hard to pick a few. Wells Coleman is probably the closest in terms of services offered and location. Levin Group is a firm that many dentists use in the Richmond area. We have a connection to the dental industry here and are leveraging that to replace Levin as the go-to for business consulting. Our background and experience is the biggest differentiator. Between the two of us, we have experience in almost every area a small business would need. From IT and finance to sales and marketing, we have a lot covered. But, we act more like a general contractor when it comes to helping small businesses launch or grow. We outsource a lot of work to partners in our network and white label the services. Our clients have to cut one check to us, and we coordinate and pay everyone who they're working with. After that, our partners are free to work with the clients independently of us. Our goal is to make strong small businesses, and creating a solid business network is extremely important for that.
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