Golden Touch Music World LLC | Application Preview
Golden Touch Music World LLC is applying for government grants to address several key financial needs and plan for future growth. The funds will help cover outstanding debts like utilities and rent, incurred since the business closed in March due to COVID-19. Additionally, some of the funding will be directed toward health safety measures, including masks and cleaning supplies for clients, along with the purchase of a new sound card that is compatible with current software for the recording studio.
Looking ahead, the business aims to expand within the next five years by hiring at least three additional employees and relocating to a larger office space that can accommodate a full studio and rehearsal area. This expansion will enhance their capacity to serve more clients each month.
The applicant believes that with the support from these funds, the business will contribute positively to the local economy by empowering individuals with the skills and resources needed to create entertainment products and start their own ventures. Golden Touch Music World LLC focuses on providing musical training and development, aimed particularly at emerging musicians who may lack the resources or guidance to succeed.
In terms of competition, Golden Touch has identified three main competitors in the area, including The Hideout Recording Studio and The Tone Factory Recording Studios in Las Vegas. However, the business differentiates itself by offering subsidized services and targeted training for new artists, helping them gain essential skills needed in the entertainment industry.
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General Information
Business Registration Number: 81-3923527
Location: Henderson, NV, United States
Length of Operation: 4
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 outstanding incurred debts such as utilities and rent since March when the business shut down due to COVID-19, part of the fund will also be used to provide safety health measures such as masks, and cleaning items for clients use in the Studio; we will also purchase a new sound card for the recording studio as the old one is outdated and no longer compatible with the current software release on our Computer Workstation.
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Business Plan
In the next 5 years, we plan to move the business to a larger scale by employing at least 3 more people to handle various tasks within the business. We also plan to rent a full-fledged office space with enough capacity for the studio as well as a rehearsal room and space for office use for the staff. With these in place, we will be able to expand our capacity of how many clients we can confidently cater for per month. I believe that my business will positively impact the economy of my county/state when more individuals have been empowered with the desired skills, technical-know-how to package their various ideas and skills into entertainment products and services and start their own businesses. That is exactly what my business offers - musical skill training and development, empowerment by enhancing the skills of individuals with great potentials but lack the resources and professional training to develop those skills.
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Self Identified Competition
1. The Hideout Recording Studio 2. The Tone Factory Recording Studios, Las Vegas, NV 3. Sweetland Music (recording studio, Nevada) My business is focused on offering opportunities to new, up-and-coming musicians and artists who wish to get into the industry but do not have the capacity to do so or the technical know-how. We achieve this by providing subsidized services and opportunities for them. We also offer musical skill training and development on various musical instruments, management, and administrative skills for the entertainment industry, groups, and individual training.
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Contact Applicant
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