L. Nicole Hair | Application Preview
L. Nicole Hair is seeking government grants to stabilize her salon business. She intends to use the funds primarily to cover a year’s worth of rent, replace an aging salon sink, and purchase retail hair products. These improvements would also allow her to hire an assistant, enabling her to manage the salon more effectively, particularly during times when she cannot be present.
In her business plan, Nicole aims to grow her clientele by working full-time in her salon. Currently, she splits her time, working at another job during the day and styling hair in the evenings, which limits her revenue and strains her physically.
Nicole emphasizes her dedication and hard work as key reasons for funding approval. She wants her children to know that she did everything possible to provide for them, despite their limited time together. With support, she believes she could finish her workday by 3 PM, rather than juggling two jobs and returning home late.
Lastly, Nicole acknowledges her competition from daytime salon owners but highlights her over 12 years of experience as a competitive advantage. However, her evening hours have caused her to lose clients, making it essential for her to secure funding to fully commit to her salon.
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General Information
Business Registration Number: L. Nicole Hair
Location: Akron, OH, 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: YES
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Funding Usage
I would like to be able to pay up my salon rent for at least a year so I can feel financially secured. I would also like to pay off my salon sink ans purchase abother one as this one is out of warranty and needing repairs. I would also like to retail hair products. One of the other main reasons for all of the above would also be to hire an assistant ro be able to operate when I am unable.
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Business Plan
I plan on building up my clientele. I would like to work in my salon full time, but I don't quite generate enough revenue to be able to do only that. Because I am a hard worker. I want my children to be able to remember that mommy did whatever she could to provide for us, even though they barely see me. My husband works daytime as well so in the evening he is there to prepare meals, ans get all 4 of them ready for bed. If I had the funds to work full time in the shop, I would be done by 3pm everyday! Right now with me working at Lowe 7-5 and then doing hair 5-11 is really wearing on my body.
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Self Identified Competition
I would say my top competitors are the salon owners who are available during the day. One of the things that sets me apart is that I do have over 12 years, but with only my evening availability, I have lost a lot of clients.
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Contact Applicant
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