Mattress Direct Of Torrington | Application Preview
Mattress Direct of Torrington is seeking government grants to address overdue vendor payments and enhance brand visibility. The requested funding will enable a significant increase in marketing efforts to boost customer foot traffic and expand inventory, ensuring customers can access products without delay.
The business plan focuses on improving awareness and driving customer visits. Initiatives include creating new marketing materials such as business cards, flyers, and postcards for direct mail campaigns. The owner plans to implement a referral program offering current customers a $25 credit for referring new clients. Additionally, the business aims to bolster its social media presence, potentially hiring a search engine optimization expert to improve online visibility. The overall objective is to return to profitability through these strategies.
In making a case for funding approval, the owner emphasizes a keen understanding of local competition. They offer competitive pricing and exceptional customer service by maintaining a lean operation and working solo. The business provides similar products to larger retailers at significantly lower prices, often below $1,500 compared to competitors who charge thousands.
Competition comes from well-established entities like Mattress Firm, Puritan Furniture, and BJ's Wholesale, all of which employ high markups. Mattress Direct differentiates itself through low operational costs and superior customer service, emphasizing a personalized shopping experience by working with clients on an appointment basis. This approach not only enhances customer interaction but also conserves operational resources.
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General Information
Business Registration Number: 65714107001
Location: Collinsville, CT, United States
Length of Operation: 6.5
Number of Employees:
Annual Gross Income:
Annual Gross Expense:
Open to Loans: YES
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Funding Usage
Funds will be used to pay any and all overdue accounts to my vendors/manufacturers as well as increase brand awareness. Marketing will be increased dramatically to increase foot traffic. Also plan to increase inventory levels to offer the public products without the wait.
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Business Plan
My main goal is to increase awareness of my business and increase foot traffic. I have a plan to purchase new marketing materials which include business cards and flyers, as well as post cards which will be mailed to the general public via USPS. In speaking with others in the industry, a referral program has been quite successful for them...my plan is to introduce a referral program which will entice current customers to "refer a friend" for a $25 credit. I also wish to increase my social media presence substantially which will likely include hiring a search engine optimization professional (SEO). I wish to return to profitability and I believe these goals will help me achieve that. I am cognizant of my competition in my area and I strive to offer my customers not only the best prices, but the best customer service. I run an incredibly lean operation and I work alone. Any savings I create are passed along to the customer and the general pubic loves it. I offer the same products as the big box retailers, but I do not charge a substantial markup. Something my competitor purchases for $800 they often sell for over $3,000...I offer the same product for often less than $1,500. I have 100% positive reviews on both my facebook page and my google site. I go the extra mile for my customers and I treat them how I'd want to be treated.
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Self Identified Competition
The answer for these three will be quite similar... 1.) Mattress Firm, a huge corporate entity with a large financial backing. This company marks up their products incredibly high to cover their overhead (employees, marketing and tv commercials, flyers, banners etc). Most of my customers are aware how inflated their prices are, which is why they choose me. 2.) Puritan Furniture, another big box retailer with a substantial financial backing who marks up their products 200%-300%. I can beat their prices any day. 3.) BJ's Wholesale, a lot of customers I've spoken with tell me how inexpensive their mattresses and box springs are. I am good friends with an employee of BJ's Wholesale and he advised that BJ's makes a minimal profit on their mattresses and box springs when sold...its all about getting people in the door to purchase other products. I sell the exact same products as BJ's does and I can match their price often. My low overhead operation and customer service is what sets me apart. I offer the same products without the built in high markup. I work alone, I work by appointment with all my customers, I offer far better customer service (an employee of a big box retailer is nowhere near as invested in the sale and service as I am). Working by appointment also reduces the consumption of utilities and consumables...the store is not constantly open consuming power etc.
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Contact Applicant
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