Homegrown Hair Co. | Application Preview
Homegrown Hair Co. is seeking government grants to fund the expansion of their salon, which will allow for increased revenue by accommodating more stylists. The funding will specifically cover the costs of moving to a larger location, purchasing additional equipment, and renovations.
The owner, a 30-year-old woman, started the salon three years ago with her life savings of $20,000. She aimed to create an inclusive environment that reflects the diverse community of St. Louis, catering to clients across various backgrounds, professions, and hair types. Despite the challenges posed by the COVID-19 pandemic, including a significant reduction in staff and clients, the business managed to recover slowly.
To achieve sustainable growth and profitability, the owner believes hiring 3-4 more stylists is essential, but this requires a larger workspace. The application outlines a vision for the salon to become a community staple known for inclusivity and education for hairdressers within the city over the next five years.
The proposal emphasizes the owner's perseverance and commitment, highlighting her background and the unique value Homegrown Hair Co. brings compared to larger, corporate competitors. With the requested funding, she hopes to solidify her business and continue serving the St. Louis community effectively.
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General Information
Business Registration Number: 833758090
Location: St. Louis, MO, United States
Length of Operation: 3
Number of Employees:
Annual Gross Income:
Annual Gross Expense:
Open to Loans: NO
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Funding Usage
The funding for Homegrown Hair Co. will be used for the expansion of the business so that it can produce better revenue. Specifically it will be used to move our operation into a bigger space so that more stylists can work and operate within. This includes buying 3 more chairs, 3 more stations, 1 more wash basin, the cost of installation and build out.
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Business Plan
Almost 3 years ago at age 28, I pulled all of my life savings and started my hair salon Homegrown Hair Co. I started the business with only $20,000 and when we went to open our doors we had no money left in the bank account. With a lot of faith, the business was able to grow, extremely slowly but surely. I started Homegrown Hair Co. because I wanted a more inclusive salon environment that I felt represented the city of STL more accurately. At Homegrown Hair Co. we have stylists that can work on every type of hair, and every type of person no matter their race, sex or financial status. It’s a place where the local musician, artist and laborer can sit next to the local medical professional, lawyer, and business associate and receive a comfortable, great service. That is at. Louis to me. 7 months into our operation COVID19 hit. Not only did the shelter in place order drain us of most of our savings, but I also had 3 of my workers leave the industry all together. In fact, 40% of the hair industry has left the field since the pandemic happened. Once we reopened I was able to start building the business back up from the ground again. It began to see the success that I wanted it to, but with clients and workers getting sick, and different variations continually coming out, it has been a struggle to see what the real profit could be if all these factors weren’t in play. When I sat down and did numbers I realized that if I could hire 3-4 more stylists, my business could generate additional profits that could ensure that that business is kept in a financial safe zone, and generate profit that can move it forward. But because we don’t have the space at the current location, I cannot hire more people without more space. With a small amount of money, I could move the operation to a location that would allow me to hire on more people, and expand the business into a more secure situation. 5 years from now I plan for Homegrown Hair Co. to be the staple of what inclusive hair salon environments look like, continue to contribute and be immersive in community work, a salon that continues to be generous to there workers, and be an educational hub for all hair dressers in our city. I am a 30 year old, almost 3 year business owning, single woman that has poured my life savings into a business that has managed to survive despite all the odds and hurdles COVID19 has dealt me. I feel that with a marginal amount of money I could finally expand on building a more secure business, that has the chance of being around to continue to serve the people of St. Louis and contribute to our community.
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Self Identified Competition
Our top competitors would be any corporate hair salon or store that holds hair salon products for sale and/ or ones that were established long before COVID19 hit. Wal Mart/ Target/ Walgreens Ginger Bay Salon and Spa Christina White Salon I am single business owning woman that started her business from the ground up when I was 28. I came from a poor family, and invested everything I owned into starting this business and have managed the entire operation myself for almost 3 years it’s been operational. While I don’t pretend to think that I am special for these reasons, I do feel that I took risks against many odds and have proven my vision. St. Louis needs, and has needed my salon. Homegrown Hair Co. was created because I wanted a more inclusive salon environment that I felt represented the city of STL more accurately. At Homegrown Hair Co. we have stylists that can work on every type of hair, and every type of person no matter their race, sex or financial status. It’s a place where the local musician, artist and laborer can sit next to the local medical professional, lawyer, and business associate and receive a comfortable, great service. That is St. Louis to me.
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Contact Applicant
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