Northern Clover LLC | Application Preview
Northern Clover LLC is seeking government grants to support its growth strategy after experiencing a remarkable 200% increase in sales in 2019, fueled by a $50,000 loan from US Bank. Although the COVID-19 pandemic has impacted their momentum, the company aims to expand into the Midwest and South regions by establishing additional showrooms and increasing representation.
The business has set a target to achieve $5 million in revenue by 2025 through further development of its US channels and aspirations for international growth. They emphasize their unique product offerings, competitive pricing, and a strong team focused on business development and operations as key reasons for funding approval.
In terms of competition, Northern Clover faces established brands like Alberto Makali, Joseph Ribkoff, and Frank Lyman. However, its competitive advantage lies in maintaining excellent profit margins and leveraging these profits for growth. With a quick replenishment lead time of 24-48 hours from their Scottsdale warehouse, the company can respond effectively to market demands, allowing retailers to order closer to season and in smaller quantities. This agility is highlighted as a significant differentiator within the fashion industry.
-
General Information
Business Registration Number: 465599201
Location: Paradise Valley, AZ, United States
Length of Operation: 6 years
Number of Employees:
Annual Gross Income:
Annual Gross Expense:
Open to Loans: YES
-
Funding Usage
We were able to grow 200% in 2019 with a $50K loan from US Bank and we want to continue to grow in 2020. The COVID-19 episode has caused a dent in our growth but we hope to be able to expand our reach the Midwest region and South region with additional showrooms and representation.
-
Business Plan
We are able to grow 200% in 2019. We have the goal of growing to $5 million in 2025 through further expansion of our US channels through additional showrooms in South and Midwest regions. We also hope to grow internationally. Other than having a unique product with an excellent price point, we have a fantastic team of business development sales and warehouse operations
-
Self Identified Competition
Alberto Makali, Joseph Ribkoff and Frank Lyman We have excellent profit margin in our product and we have using our profit to fuel our growth. We have a 24-48hr replenishment leadtime from our warehouse in Scottsdale which is unique in our industry because normally we work off fashion seasons. I believe that the stores would prefer to purchase closer to season, in smaller manageable quantity and with faster leadtime for restocking and shipping.
-
Contact Applicant
Subscribe to our Administrator Dashboard to gain full access to this application. Learn More
