New Albany Sugar Shoppe | Application Preview
New Albany Sugar Shoppe is seeking government grants to support its operations due to significant adverse effects from ongoing bridge and road construction, which has led to a 38% revenue decline, amounting to $64,000 in losses this year alone. The owner, who launched the shop during the pandemic without taking any government assistance, is now facing financial difficulties and has resorted to borrowing funds to remain open.
The business plans to expand by taking over the adjacent shop and hiring employees, aiming to revitalize its growth. Despite having faced challenges, New Albany Sugar Shoppe has filled a unique niche as the only candy shop in New Albany, attracting positive public reception since its inception, an achievement noteworthy given the absence of a candy shop in the area’s 200-year history.
In a competitive landscape that includes established shops like Shimpfs, Muths Candy, and White House Candy, New Albany Sugar Shoppe differentiates itself by collaborating with local businesses and offering a selection of locally made and hard-to-find candies that appeal to children. This strategic positioning underscores its significant role in the community and its potential for continued success with the necessary funding.
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General Information
Business Registration Number: 85-2234326
Location: New Albany, IN, United States
Length of Operation: 1-5
Number of Employees: 1-10 Employees
Annual Gross Income: $100k to $250k
Annual Gross Expense: Less than $100k
Open to Loans: YES
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Funding Usage
Bridge Construction of the Sherman Minton Bridge and Main Street Road Construction in downtown New Albany IN has severally impacted my business . I need this money to keep my doors open while all this is going on. I have lost $64,000 so far this year and I am having to borrow money to keep my doors open. I started my business during Covid- I never took any PPe - but as soon as all this construction started I have lost over 38% of my business because no one is coming to downtown.
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Business Plan
I plan on expanding into the shop next door to mine and hire employees. The New Albany Sugar Shoppe was a successful business until Bridge Construction of the Sherman Minton Bridge and Main Street road construction in downtown New Albany. New Albany Sugar Shoppe had never had a candy shop in the 200 years of New Albany until I opened my Candy shop. It has been extremely well received by the public.
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Self Identified Competition
Shimpfs - a 100 year old candy shop in Jeffersonville- they have a candy museum Muths Candy - in Louisville- they make the Mojesca White House Candy in Corydon - they sell more ice cream than candy New Albany Sugar Shoppe is the only Candy Shop in New Albany and I work with other small businesses in the area and carry their products along with mine. The New Albany Sugar Shoppe specializes in local and state made candy products and we carry hard to find candies that all the kids are looking for.
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Contact Applicant
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