Maya’s beauty and style | Application Preview
Maya's Beauty and Style is seeking government grants to facilitate the establishment of their salon business. They are requesting $8,000 in owner investment and $3,000 in vendor financing specifically for equipment purchases.
The initial costs include an $8,000 cash cushion, $3,000 in pre-launch expenses, and $5,000 for tangible assets at the time of launch. The business aims to create a vibrant salon environment that includes a retail center, a cosmetology school, and separate salons for men and women.
The mission is centered on enjoying the business of cosmetology by merging technology, art, and science. Future plans involve expanding the retail department with online shopping, providing advanced evening classes at the school, and acquiring the current building along with an additional 3,000 square feet to accommodate further growth. The existing apartments on the upper level are expected to generate additional revenue.
The funding request is justified by the intention to provide services that enhance clients' appearances and promote relaxation, targeting fashion-conscious individuals with disposable income. While the primary clientele will be women, the business will also cater to men, offering a variety of beauty services and products.
Maya's Beauty and Style will differentiate itself from competitors, such as Kings Beauty and Spa, Royal Mansion, and Kdoll, by positioning itself as a more accessible option compared to high-end luxury salons, thus appealing to a broader customer base in the community.
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General Information
Business Registration Number: 429997091
Location: MEMPHIS, TN, United States
Length of Operation: 2
Number of Employees:
Annual Gross Income:
Annual Gross Expense:
Open to Loans: YES
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Funding Usage
We plan on needing $8K owner’s investment and getting a $3K vendor financing to purchase equipment. Starting costs include $8K cash cushion, $3K starting expenses before launch, and $5K tangible assets at launch.
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Business Plan
Maya’s beauty and bar’s vision is to create a harmonious, productive, and profitable salon environment, supplying the community with a retail center, a Bettiva share-school of cosmetology, and separate men's and women's salons. The mission statement is very clean in the approach: Having fun doing business by sharing the passion of cosmetology combining technology, art, and science. Future planning includes, expansion of retail department with virtual shopping which will be an online shopping center. The school will conduct advanced evening classes, maximizing productivity. Ownership of the present building is planned, expanding an additional 3,000 square feet for school and salon. Presently there are apartments in the upper level. These would add to revenue. We plan to supply services and products that enhance our clients’ physical appearance and mental relaxation. We will be targeting male and female clients who are fashion conscious and have disposable income. Our clients are mostly women, but we will make sure to include men who fit the criteria as Maya’s beauty and bar will, upon commencement of operations, sell a wide range of beauty services and products. We will provide quality hair, nail, and skin services, along with top lines of beauty products as well. What will set Maya’s beauty and bar apart from the competition is our commitment to providing all of these services in one convenient location.
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Self Identified Competition
Kings beauty and spa Royal Mansion Kdoll There are a number of salons like ours, but they are mainly in the very high income parts of MyTown and surrounding areas. We do not intend to compete with these so called "Day Spas." We wish to offer a middle ground for those clients who can’t quite afford those high-end luxury salons.
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Contact Applicant
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