Ella Eris Beauty Boutique LLC | Application Preview
Ella Eris Beauty Boutique LLC is seeking government grants to fund startup expenses, including developing a website, social media marketing, essential equipment, packaging, and inventory purchases. The business aims to grow over the next five years by expanding its product range to include women's clothing, handbags, and trendy accessories while participating in trade shows for networking and exposure.
The application emphasizes the robust beauty industry's growth, predicting an annual increase of 4.75% and a market value exceeding $716 billion by 2025 and $784.6 billion by 2027. With the e-commerce sector expected to capture 48% of the market in the U.S. by 2023, there is significant potential for online retail.
While facing competition from established retailers like Shopmissa.com, Amazon, and Aliexpress, Ella Eris Beauty Boutique's competitive advantage lies in offering trendy and quality products at affordable prices. By maintaining a budget-friendly approach, the business aims to encourage higher sales volumes, appealing to consumers who value affordability without sacrificing style.
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General Information
Business Registration Number: 883923621
Location: Woodhaven, MI, 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
The need for funding would be to cover all start up costs, such as building my website, small scale social media marketing, equipment such as a laptop, printer, shipping label printer, packaging, shipping, and finally the purchase of inventory.
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Business Plan
I plan to expand my business in the next five years by adding more items to my inventory such as women's clothing, handbags, and other trendy accessories . I would like to participate in trade shows and business expos where I can network with other businesses in my market and gain exposure. I have a large social media following and a blog I have been maintaining since the beginning of 2022 so my name is already out there and I have many opportunities for outreach to those who are already following me on my other platforms (social media, blog). The beauty industry is an extremely strong and ever growing market. Per market research, the beauty industry has an annual compounded growth rate of 4.75% worldwide and is predicted to exceed $716B by 2025. And $784.6B by 2027. In regards to e-commerce online share is predicted to surge to 48% in the United States by 2023.
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Self Identified Competition
Shopmissa.com Amazon Aliexpress I believe in trendy, quality products at an affordable price point. I want to have a budget friendly place to shop at a price rate that I, personally, would pay. I understand the value in markup, however, I do know from personal experience, e-commerce sites that have a lower price point make it almost irresistible to purchase more items. The volume of products sold alone will make up for large percentage up-charging on wholesale products. Consumers will be able to purchase more items at one time without having to dig deep within their pocketbooks to pay for trendy products.
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Contact Applicant
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