Magnolia Studio LLC | Application Preview
Magnolia Studio LLC is applying for government grants to support its expansion into a new building within the same locality. The new building requires significant updates to make it functional, allowing the business to increase its staff and enhance its services.
The business plan focuses on growth through employee expansion and collaboration with local vendors to showcase their products at the salon. Additionally, Magnolia Studio aims to partner with event planners to secure its position as a preferred venue for weddings.
The justification for funding highlights the studio's rapid growth within its first year and the ongoing demand for its services, especially following its launch during the Covid pandemic. A larger space is essential to accommodate more staff and clients while expanding the range of services offered.
In terms of competition, Magnolia Studio faces no direct rivals nearby, as the nearest salons are eight miles away. This strategic location was chosen to fill a gap in the local market. The studio’s competitive edge lies in its commitment to supporting local small businesses and addressing the community's needs for updated facilities, aiming to foster a sense of unity and collaboration among local entrepreneurs.
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General Information
Business Registration Number: 85-1249094
Location: Toano, VA, United States
Length of Operation: 1.5
Number of Employees:
Annual Gross Income:
Annual Gross Expense:
Open to Loans: NO
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Funding Usage
We are looking to expand to a new building in the same area of our town. The building itself needs a lot of updating to function. We would be expanding by being able to add more employees and update a current building in our area.
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Business Plan
We plan on growing our business by adding new employees and also coming together with our local vendors and community to showcase there work at our salon. We are also looking to grow by partnering with local event planners to become the first choice when it comes to hosting your wedding day. We are a small business that has already grown within a year of being open and need a larger space. Our business is always in need and will continue that way. We opened in the middle of Covid and our successful and just need a bigger space to accommodate more employees, guests, and open our range of services.
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Self Identified Competition
We have no competition in our direct area which is why we opened our business because it was something that was lacking. There are two other salons, Posh salon and Salon Seven that are 8 miles away from us that are the top salons in the area. We are not only trying to expand our salon for our community but looking to bring local small business together who may not have the opportunity to have a space to sell there products. We are filling a need in our area where many salons have not opened because the area does not have many buildings that are ready to go. We are hoping to build our area with more updated businesses that bring our community together.
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Contact Applicant
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