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February 7, 2025, 4:39 am UTC

Hair Factory LLC 861444377 | Government Grant Application

Hair Factory LLC | Application Preview

 

Hair Factory LLC is seeking government grants to enhance its vending machine business focused on beauty products, specifically lash and false extension vending machines in Iowa. The funding will be used to expand inventory, introduce a wider variety of product sizes based on customer requests, and install an additional vending machine at another mall location. It will also cover rent and insurance for both properties.

The business aims to become the leading provider of beauty supply vending machines in Iowa by implementing a robust marketing strategy and consistently meeting customer demands. Hair Factory LLC plans to stay current with fashion trends, ensure constant inventory availability, and utilize email subscriptions and social media for outreach.

Approval for funding is justified by the contribution of the vending machine to the cultural diversity of Iowa's malls, as it provides easy access to beauty products in a low-contact environment. The company will maintain financial transparency with accrual-based income statements and cash flow analysis to manage liquidity effectively.

To optimize inventory management, Hair Factory LLC will rotate products every seven days using a first-in-first-out (FIFO) system, bolstering cash flow and space efficiency. The business currently faces no direct competition and emphasizes its unique selling point: convenient access to environmentally friendly and unique beauty products while minimizing customer interaction with store employees.

  • General Information

    Business Registration Number: 861444377

    Location: Des Moines, IA, United States

    Length of Operation: 1

    Number of Employees:

    Annual Gross Income:

    Annual Gross Expense:

    Open to Loans: YES

  • Funding Usage

    With this funding I will be adding new inventory into my vending machine. I will supply more boxes with different sizes per customers request. I will be expanding and adding a new vending machine into a different mall. I will pay both properties rent, and insurance.

  • Business Plan

    I plan to be the leading and only business of lash and false extension vending machines in Iowa. To grow my business I plan to advertise everywhere, meet customers demand, stay up to date with all the current styles, keep inventory available at all time, I have a monthly budget that I meet every month, I plan on using emails subscriptions and social media to stay on top. My vending machine brings culture and diversity into the malls of Iowa. A vending machine that serves false lashes and hair extensions as well as beauty products. I will prepare an income statement on an accrual basis with a cash flow system. The cash flow statement will help us understand the liquidity and helps to solvency the vending machine. I plan to rotate inventory every 7 days. This helps ensure I’m constantly rotating my inventory through FIFO (first in first out) giving me a better leverage for cash flow and to utilize space optimization

  • Self Identified Competition

    None. I am the one and only beauty supply vending machine What makes me different is I will be in the mall available to every and any one. There is minimum contact with other people or “store employees” reducing the chances of COVID. I offer unique styles and lashes like my environmental lashes which are environmentally friendly and magnetic lashes.

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