Color Wheel Therapy | Application Preview
Color Wheel Therapy is seeking government grants to support its mission of providing accessible mental health services to historically marginalized communities, particularly within the Black community. The funds would help the business offer free or reduced-rate therapy to clients facing financial challenges, an initiative currently supported through merchandise sales and donations. The organization has experienced a significant decline in clients due to rising costs of living and the economic impact of COVID-19, making therapy even less accessible.
The majority of the grant funds would be allocated towards securing a physical office space, covering expenses such as rent, utilities, furniture, hiring additional staff, and advertising. With plans to expand over the next five years, Color Wheel Therapy aims to create a welcoming environment for Black clients and therapists, ultimately helping to improve mental health outcomes in Texas.
The business envisions establishing a safe space for personal growth and vulnerability, addressing the unique traumas within the Black community, and promoting education alongside therapy services. By emphasizing Black ownership, Color Wheel Therapy aims to change the narrative around mental health and destigmatize seeking help. Investing in this initiative is seen as a step toward reversing historical inequities and fostering a healthier community.
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General Information
Business Registration Number: 86-1553755
Location: DALLAS, 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: YES
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Funding Usage
Being that Color Wheel Therapy focuses on communities who are historically marginalized, this grant would be a great help in making sure that those who are not as fortunate will be able to seek treatment. Currently, I have been attempting to create funding for clients with financial hardship by selling merchandise and campaigning for donations. Although this has been helpful to keep the practice running when there is a decline in retention of clients, I have not been able to reach the goal of providing free or reduced treatment. Funds are also needed to recuperate the business due to economic hardship resulting from COVID. There was a tremendous decline in clients during the summer when prices began rising for essential needs. Therapy has now become even more difficult to access for many in the Black community and the business is suffering. Many are also in search of a practice with a physical location providing services. Majority of these funds would be used to secure a physical office for clients to come in for services. This would include cost of rent, utilities, furniture, hiring employees (assistant/CPA/other therapists), advertisement, and other necessary expenses.
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Business Plan
My plan to grow my business in the next 5 years includes securing a physical office, hiring other therapists and an assistant to help with day to day, continuing to find creative ways to advertise around Texas using social media, radio, campaigns, etc., and providing more clients with services. I want to acquire and sustain a caseload of 8 clients per therapist. I want my practice to be a safe space for other black therapists to learn and grow in the direction they choose in therapy. The goal for this would be to provide opportunities for trainings and CEUs. Color Wheel Therapy will be renowned in 5 years for the improvements made to the mental health of Black people in Texas. The purpose of Color Wheel Therapy is to give Black people a chance to start over. The cards dealt to the community has never been a fair hand in this country. Research shows that the trauma is embedded in our DNA. Investing in this business will help reverse the damage causes by providing representation, safety, and a trusting space for Black people to be vulnerable. Black people are not normally allowed to be vulnerable. This creates barriers in personal growth, healthy relationships, finances, education, employment, physical health, and the list goes on. Black people are highly in need of mental health services that include education and therapy. The goal is to provide both and more. We also want to change then narrative and stigma around simply going to see a therapist. Normalizing the space with Black ownership is a huge start.
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Self Identified Competition
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