FORMALE LLC | Application Preview
FORMALE LLC seeks a government grant of $25,000 to support its mission of providing quality functional and protective clothing to those in need, particularly the less fortunate. The funding will be allocated primarily for manufacturing costs from a home-based operation ($15,000), with additional amounts designated for materials and supplies ($10,000), distribution and design costs for sampling ($2,500), and advertising and marketing through social media and outreach programs ($2,500).
The business aims to grow over the next five years by establishing itself as a designer focused on offering affordable clothing for those lacking basic necessities. The owner emphasizes the commitment to social responsibility, as the products are priced below production costs to accommodate lower-income customers. By 2027, FORMALE LLC plans to secure enough capital to open a manufacturing facility, allowing for mass production of garments for individuals in need across New York City and other impoverished regions, while collaborating with charities like the National Alliance to End Homelessness.
The application highlights the founder's personal experience with homelessness in 2020 as a motivating factor in their mission. Acknowledging the environmental impact of the fashion industry, FORMALE LLC aims to address not only clothing needs but also contribute to sustainability. The competitive landscape includes well-known organizations like Goodwill, The Salvation Army, and the American Red Cross; however, FORMALE LLC's unique approach involves direct street vending rather than relying on donation centers, offering a distinct competitive edge. Overall, the proposal calls for investment from stakeholders who wish to support the mission of alleviating homelessness through essential clothing provision.
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General Information
Business Registration Number: 221011881102
Location: bronx, NY, 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
I will use the funding for Manufacturing costs from my home which is $15,000 $10, 000 will be used for materials and supplies. $2500 will be used for distribution costs and design costs for sampling $2500 will be used for advertising and marketing via social media and outreach programs and website costs.
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Business Plan
My mission statement for my business is give quality functional and protective clothing to those with and without. In doing so, how I plan to grow my business in the next five years is to become known as a designer who concentrates on giving clothing that people require in times of need who may not have the opportunity to possess otherwise. Considering my target market are the less fortunate, the cost of my products costs less than the cost to make. Hence while I am requesting $25,000 in grants since my products are discounted for the lower classes to make them affordable. Although my passion is designing clothing, and my clothing is inexpensive, I still need to generate a substantial income. By 2027, I will have gained enough capital to own a manufacturing facility where I can mass produce garments for needy people in NYC and other states in impoverished areas. I will also profit from partnering with charities that help homeless people such as the National Alliance to End Homelessness. I want investors to invest in me because my service is to help the less fortunate while helping to sustain the environment. Experiencing homelessness myself in 2020 I realized that men women and children can become better versions of themselves when they have the essentials such as food, shelter, and clothing. Upon starting my business figuring out who my possible target market was challenging since most middle-class people have more than enough clothes which are not great for the environment in terms of creating waste and pollution in our landfills upon disposal. Knowing that fashion is the second leading cause of pollution in the world behind oil I decided to target those who would especially be able to appreciate clothing tailored to give them for security and to add a sense of respect and care for themselves. Ultimately investors should invest in me so I may help to end homelessness by providing people with one of the three basic human needs.
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Self Identified Competition
I consider my top 3 competitors to be organizations like Goodwill The Salvation Army American Red Cross I don't have a storefront since I work from home. So I distribute clothing to my target market through street vending instead of donation centers.
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