Corey Davis | Application Preview
Corey Davis is seeking government grants to kickstart a business focused on providing embroidered uniforms. The funds will be allocated for purchasing an embroidery machine, wholesale Unisex Uniform Polo Shirts, and advertising expenses.
The business plan outlines a five-year strategy. In the first two years, the focus will be on managing expenses and maintaining a debt-to-income ratio of 55% or below while establishing at least two community partnerships for steady income. In years two and three, the goal is to reduce the debt-to-income ratio further to 40%, expand networking efforts to three partnerships, and hire two seasonal staff to meet demand, targeting a 10% revenue increase through marketing. By years four and five, the goal is to bring the debt-to-income ratio down to 25%, solidify five community partnerships, and continue hiring seasonal staff to support product demand.
Davis expresses a strong commitment to running a successful business, especially during challenging economic times, with a focus on serving an underserved community. The competitive landscape includes Doral Embroidery, Ibiley Uniforms & More, and Fully Promoted Miami Lakes, FL. The unique selling point of Davis's business is its location within a 20-minute drive of intercity youths, offering direct delivery of uniforms to local schools and community partners. This service aims to assist families with limited transportation options, setting it apart from competitors.
-
General Information
Business Registration Number: 88-3926702
Location: Columbia, MD, 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
-
Funding Usage
The fund will be used as a start-off cost address business. It will cover the purchase of an embroidery machine, wholesale Unisex Uniform Polo Shirts, and Advertisement costs.
-
Business Plan
Year 1 and 2: Identify expenses and adjust the budget to maintain goals. The first goal is to maintain the debt-to-income ratio at 55% or below. The second goal is networking and confirming at least two community partnerships to guarantee a re-occurrent income stream. Year 2 and 3: Identify expenses and adjust the budget to maintain goals. The first goal is to maintain the debt-to-income ratio at 40% or below. The second goal is networking and confirming at least three community partnerships to guarantee a re-occurrent income stream. Hire at least two new seasonal staff to assist with product demand. Increase revenue by 10% by marketing and additional advertising. Year 4 and 5: Identify expenses and adjust the budget to maintain goals. The first goal is to maintain the debt-to-income ratio at 25% or below. The second goal is networking and confirming at least five community partnerships to guarantee a re-occurrent income stream. Hire at least two new seasonal staff to assist with product demand. It is my desire to maintain a lucrative business. I know it’s essential to reach the sales goal for each year. Exceptionally when sales can be low during a pandemic or other economic struggle. It is with great intentions to serve an underserved community.
-
Self Identified Competition
1. Doral Embroidery 2. Ibiley Uniforms & More 3. Fully Promoted Miami Lakes, FL My business will stand out as there are no other uniform locations within 20 minutes of driving distance for intercity youths. Our small business will deliver uniforms directly to local schools and other community partners. This small business will provide service to families who reside nearby with limited means of transportation.
-
Contact Applicant
Subscribe to our Administrator Dashboard to gain full access to this application. Learn More
