K | Application Preview
K is seeking government funding to launch K's Mavens, focusing on operational support, marketing, and enhancing its competitive position in the beauty industry. The ultimate goal is to develop K's Mavens into a Licensed Beauty School within five years, where existing services can be taught, thereby contributing to the pool of licensed professionals. Growth strategies include effective marketing, ensuring high service quality, and expanding into a med spa while establishing additional locations.
K brings four years of entrepreneurial experience and has successfully built a brand, maintained client relationships, and utilized various marketing methods. The application highlights K's expertise in areas like logo and website design, bookkeeping, and developing training courses, underscoring a commitment to both personal and client success. Proper funding is viewed as essential for elevating the business's vision.
K's Mavens faces competition from established local entities like SKIN Med Spa & Laser and Browhâus Texas. However, the business distinguishes itself by prioritizing client experience and professional growth over merely generating revenue. It plans to offer affordable rental options for fellow entrepreneurs and advanced training courses, enhancing its appeal in the beauty market.
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General Information
Business Registration Number: 883150572
Location: Mckinney, TX, 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
To set K's Mavens off the ground by helping with operational purposes, support marketing and promotional activities, and giving the business a competitive edge and credibility in the market.
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Business Plan
K's Maven's' biggest goal within the next 5 years is to expand into a Licensed Beauty School where the services we currently provide can be taught to others, contributing to the growth of licensed professionals in the beauty industry. However, to maintain growth within the next 5 years, we plan on using marketing plans/advertising avenues, maintaining professionalism, and displaying consistent and quality service to conserve client retention. K's Mavens is also aiming to expand from a traditional salon to a med spa and to open additional locations in other cities/states. We are already partnered with registered nurses and other entrepreneurs in the industry in hopes to propose that vision in the near future. As someone who has 4 years of experience in entrepreneurship, I have a solid understanding of how to efficiently create a path for myself and others. Over the past 4 years I've created a name for myself and developed healthy relationships with customers to maintain client retention and to gain business from others. I've marketed my own business in many ways (via social media, ads, campaigns, etc.), created logos, flyers and business cards, designed websites, maintained client records, generated documents, created QR codes, successfully curated a microshading training course (which I am still using today), been a bookkeeper, incorporated a LLC, and just recently gained experience in building business credit, all by utilizing my time to do the research as well as using personal funding. With proper funding my vision will be taken to the next level. K's Mavens not only helps people feel and look their best, but will also provide opportunities for others, which can allow them to have a good quality of life.
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Self Identified Competition
SKIN Med Spa & Laser - highly rated med spa located in our target area with a second location nearby. Browhâus Texas - eyelash/permanent makeup salon. Flavous Beauty Academy - beauty salon/school offering a Lash Specialist training course, and an Esthetics training course. Unlike some of our competitors, we are not solely focused on generating revenue. Although we are a multi-servicing spa who aims to provide superior service using industry lead pharmaceutical skin care products, and other quality supplies and equipment to allow clients to experience luxury at a competitive price, we also believe in individual growth. K's Mavens will provide affordable suite/booth rental rates for entrepreneurs to grow their brand as well as advanced training courses to aid in professional development.
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Contact Applicant
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