Fit Bites | Application Preview
Fit Bites is seeking government grants to support its operations after being heavily affected by inflation in Michigan. Despite attempts to maintain affordability by adjusting meal prices, the business has experienced decreased customer purchases. To manage expenses, they've reduced portion sizes, but still require working capital for payroll and marketing as they navigate financial challenges from the past three months.
The business operates in an area with limited interest in healthy eating, surrounded mainly by fast food outlets. Fit Bites recognizes that relocating to a more health-conscious area, like Farmington Hills, MI, would enhance their potential for growth, but they face financial constraints and need a walk-in refrigerator to expand. Their goal is to open one or two additional locations within the next five years.
The owners have demonstrated resilience, successfully navigating the pandemic while even growing their customer base and reputation. As a family-run business, they are committed to contributing to their community’s health. Fit Bites has a unique offering, as they are the only local meal prep service that is completely gluten, dairy, soy, and refined sugar-free, sourcing ingredients from local farmers and making everything from scratch daily. Their dedication to quality and community sets them apart from any semi-competitors.
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General Information
Business Registration Number: 82-0966798
Location: New Boston, MI, United States
Length of Operation: 6-10
Number of Employees: 1-10 Employees
Annual Gross Income: $250k to $500k
Annual Gross Expense: $100k to $250k
Open to Loans: NO
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Funding Usage
We have been greatly impacted by inflation here in MI. Being a small business we have tried our very best to keep our prices affordable for our customers. We did try to raise our meal prices by $1 and due to our customers being pretty upset about that and in turn, buying less, we decided to take our meals back down by $1 and put a little bit less food into the bowls, which has worked out okay for us. We desperately need working capital to help us with payroll and marketing to get us through the last 3 months in which we lost a lot of money trying to figure out how to handle inflation and our customers buying less.
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Business Plan
We are in a so-so area as of right now as far as how many people are interested in healthy eating. Even being in a so-so area (surrounded by many fast food joints, bars and smoke shops) we are still doing very well. We know that we could do so much better being in an area where this type of lifestyle is practiced more often and by more people. We have a location in mind in Farmington Hills, MI. Unfortunately due to falling short on financials right now as well as needing a walk in fridge to be able to even supply another store, we are unable to do that without a grant. We plan to open 1-2 more locations in the next 5 years. Fit Bites has proven to overcome hardship by buckling down and doing every single thing we needed to do to make it through covid. Due to our efforts, not only did we make it through covid but we actually GREW during that time. We retained every single employee, gained more customers and bettered our reputation here in downriver. Fit Bites is owned by myself and my husband, and we share a daughter who is now one years old - there is absolutely nothing that we wouldn't do to be successful not only for us, but for her. We take bringing health to our community very seriously, and don't back down in any face of challenge.
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Self Identified Competition
We don't really have any competitors because we offer something more unique than your standard meal prep. There are currently no other meal companies in our area that offer a store that is 100% free of gluten, dairy, soy and refined sugars. Our only semi-competitors would be clean plates. We are a family run business that gets our produce and meat directly from local farmers, and we make everything from scratch every single day.
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Contact Applicant
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