RastaBabyCustoms LLC | Application Preview
RastaBabyCustoms LLC is applying for government grants to secure funding for a Ricoma embroidery machine, which costs $18,000, including shipping. The machine features a lifetime warranty and offers both in-person and online training. The owner has already invested personal savings into other necessary materials for the business.
The business plan outlines a five-year vision that includes creating a user-friendly website for customers to design and purchase their custom items, improving the shipping process, and hiring one or two employees to manage orders. In addition to this, the owner is pursuing a college degree in business to enhance their skills, particularly in marketing.
The application emphasizes the owner’s dedication and proactive approach, highlighting that they work solely to cover business expenses and are committed to achieving their goals. Their confidence in the business's potential growth over the next year is also mentioned.
RastaBabyCustoms LLC faces competition primarily from one established competitor, Print Craft, which operates from a physical location and has greater experience. However, the owner asserts a unique competitive edge as a self-taught entrepreneur running a small home-based business without any revenue yet, differentiating themselves from the family-oriented competitor.
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General Information
Business Registration Number: 202104301486010
Location: Kokomo, IN, United States
Length of Operation: 1-5
Number of Employees: 1-10 Employees
Annual Gross Income: Less than $100k
Annual Gross Expense: Less than $100k
Open to Loans: NO
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Funding Usage
100% of this funding will be going to purchasing a Ricoma embroidery machine. It’s estimated cost including shipping is $18,000. It has a lifetime warranty. And includes in person and online classes. All other materials needed for my small business, I have purchased with my own money from working and saving.
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Business Plan
In the next 5 years I will have a website that customers can easily access and create their own designs/customs they would like to purchase. I will have an easier shipping process. And I plan to hire 1-2 people to help keep up the orders. Attending college for a business degree. And possibly learning marketing skills. I am very dedicated to my business. I work just to pay for my business expense’s. I am currently attending school to learn more about business handling. When I want something I strive to complete my goal. I believe in myself. I know for a fact in the next year or so my business will be well known.
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Self Identified Competition
I only have one competitor and it is print craft. They have been in business longer than I have and they have way more experience. They have a building they run their business out of. I am a self taught business owner. My business is considered a small business. I have not yet received revenue. I run my business out of a bedroom in my home. I am the only employee in my business. They have a family business.
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Contact Applicant
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