ReignTree Cosmetic LLC | Application Preview
ReignTree Cosmetic LLC (RTC) is applying for government grants to support the establishment and operation of its cosmetology institute. They plan to hire six employees, including a cosmetology instructor and several stylists, and are seeking funding for startup and operational costs.
The total funding request amounts to $1.01 million, allocated as follows:
- $350,000 for purchasing office space and obtaining necessary insurance
- $350,000 for salaries for the first year
- $120,000 for salon renovations, furnishings, and equipment
- $110,000 for various company expenses, including marketing and taxes
- $50,000 for a state-required bond
- $10,000 for software and security systems
- $10,000 for inventory and supplies
RTC aims to expand into vocational training for high school students in the local government sector within five years. The organization seeks funding approval due to its focus on enhancing community beauty and wellness, particularly in light of the challenges posed by the Covid-19 pandemic. RTC was founded in response to the increased need for affordable beauty services following salon closures and rising costs.
RTC differentiates itself from competitors, such as Paul Mitchell and Drake Community College, by emphasizing education and empowerment in beauty maintenance. Their core values—Express, Enrich, and Embrace—highlight their commitment to providing a welcoming environment where customers can celebrate their natural beauty.
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General Information
Business Registration Number: 88-1272722
Location: Athens, AL, 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: NO
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Funding Usage
RTC institute will start with 6 employees which consist of: 1 cosmetology instructor, 1 manager / stylist, 1 stylist, 2 natural braid stylist, and 1 shampoo assistant / receptionist. The funding requested is for RTC startup, development, and operating costs. The RTC Service List and Grant funding appropriation is as followed. $350k - Purchase of office space / building with 1st year General / Company Liability and Building insurance. $350k- Owner and employee pay for the 1st year. $120k - RTC salon renovation, furnishing, interior design, equipment, and supplies. $110k - Company bills, marketing, maintenance, taxes, CPA fees, business travel & training, worker’s compensation & benefits, company vehicle with vehicle insurance. $50k - Bond in the sum of $50,000 in favor of the State of Alabama. A requirement of the state of Alabama for the opening and maintained of a beauty school. $10k - Company software, security system, & technologies. $10k - Inventory & supplies
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Business Plan
Within the next 5 years, ReignTree Cosmetic (RTC) plans to expand into the local government sector by providing vocational instruction to the high school students. This organization focuses on the cosmetic welfare of communities and provides a helping hand for people to empower their natural beauty. The passion originated from the Covid-19 pandemic and its effect on the residents of North Alabama. The pandemic caused the closing of salons, which negatively impacted the cosmetic welfare of the public; the grand re-openings and recent inflation has caused cosmetic services to become unaffordable. It is the mission of RTC to educate its students in preparation for the State Board of Cosmetology Certification Examination.
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Self Identified Competition
Paul Mitchell (Huntsville, Al) Drake Community College (Huntsville, Al) ReignTree Cosmetic, LLC (RTC), a cosmetology institute in the north Alabama region that provides affordable services such as haircuts, bread trims, neck trims, hair styling, hair braiding, shampoos, and deep conditioner treatments to all its customers. The difference between RTC and other local competitors (Paul Mitchell and Drake) would be RTC core values. RTC provide services to educate the general public on the maintenance and management of their own natural beauty. RTC are emphasized by three words: Express, Enrich, and Embrace. Express is for the expression of self, allowing everyone to feel free in a non-judgmental environment. Enrich is for the enrichment and enhancement of natural beauty, making every customer feel special. Finally, Embrace means to accept the rejuvenated you, allowing every customer to leave RTC feeling refreshed.
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Contact Applicant
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