HenryFromBoston.com | Application Preview
The grant application from HenryFromBoston.com outlines a plan to secure funding for establishing a web services business focused on assisting small and medium businesses. The expected funding usage includes:
- $24,000 for home office expenses in the first year.
- $36,000 for advertising and securing contracts through platforms like Thumbtack and Upwork.
- $10,000 for hiring staff upfront before project payments begin.
- $50,000 to develop a web application for business management, specifically targeting stores and salons.
- $5,000 monthly for marketing to attract initial users, with some of this cost potentially covered by outsourcing income.
In the business plan, Henry proposes starting as a self-employed contractor while gradually expanding services. His extensive experience in managing offshore staff allows for scalability in his workforce. He aims to develop an application that empowers small businesses to manage staff, inventory, and customer relationships more efficiently. The app is intended to meet the growing demand for digital solutions among small businesses, especially in the current climate.
Henry emphasizes his decade of experience in the field and his commitment to ethical business practices, contrasting himself with typical startup entrepreneurs who may overspend. He believes in contributing to the community while making a profit and seeks investors who share similar values.
In terms of competition, while there are numerous service providers and existing management apps, Henry believes his focused approach and practical solutions tailored to specific business needs set him apart. His competitive edge lies in his ability to leverage a flexible offshore workforce and his unique insights garnered from years of working with various clients, creating a service that genuinely caters to the needs of small business owners.
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General Information
Business Registration Number: 013903864
Location: Marshfield, MA, United States
Length of Operation: 9
Number of Employees:
Annual Gross Income:
Annual Gross Expense:
Open to Loans: YES
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Funding Usage
- Using my own home & utility as a temporary working office: $2,000/ month => $24,000 the very first year. - Advertising and getting contracts on job sites such as Thumbtack, Upwork and Facebook: $3,000/ month => $36,000/ year - Fix cost upfront to hire and pay staffs before getting project's payments: $10,000 - Investing on developing my own web services/ application for business owners to manage their own stores, inventories and clients: $50,000 - Marketing cost to acquire early users: $5,000/ month but this cost will be partially paid by outsourcing segment's incomes above.
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Business Plan
- I begin with myself (working as a self employed contractor), taking small to medium web/ app programming projects just to have sufficient day to day funding. I have vast experience recruiting and managing offshoring staffs, therefore not only "myself" literally, but I can have as many people working for me as needed. Look at my own website to see what I've been doing for many previous businesses: HenryFromBoston.com. I will be just growing my services steadily here in Massachusetts. - Along developing and expanding my own services and relationships here, I will also take all these experience and knowledge from many clients (businesses) I had a chance to work with to form and build our own app helping small and medium businesses (maybe in very specific segments like shop's or salon's owners) to use to manage their own staffs and inventories in the most efficient way. They can also use this app to advertise and help their customers to make apppointments, order things online, etc. This is the very obvious trend right now that every small businesses must have an app/ a representative somewhere to advertise their services as well as to give their customers more utilities they love. I will build this and if I succeed then I can make astronomical return on investment. Even in case I fail, the loss in investment is not too big because I still have steady incomes/ profits from programming projects, and I can always twist any idea and launch it again. - That's roughly what I have in mind at the moment. Let's see how it turns out. There is no sure path that leads to success especially when talking about the scope of 5 years. However helping business owners work remotely and manage things better is the definite trend especially during this Covid time and in the very near future. - I spent 10 years working in multiple projects from different businesses. I even opened my own outsourcing firm in other country, so I know everything in this field, and have a very strong technical and managerial background. - I work hard, begin humbly, and save every penny that I can - not the type of Silicon entrepreneurs who spent half of their investments in luxury cars and apartments. So any investment on me would worth every of its pennies. - My life and career's goal is doing "good" for people and the community around me, and at the same time get a profit based on what I've contributed. I believe this is more sustainable than doing things just for self profits and nothing else. I'm a strong believer in "karma" - what you get now and in the future is essentially what you've done and did in the past. Therefore I wish to have investors who have same belief and core value.
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Self Identified Competition
Right now because I'm too small and humble, you can easily find not only 3 but 3,000 competitors providing the same servieves on any outsourcing or local job websites such as Thumbtack, Upwork or Freelancer. Talking about the app I would build, we can list some apps like Salon Iris, Style Seat, or even Trello for business management. However they are all different and I would be VERY FOCUSED on my own best segments which is people (staffs), inventories and client's relationships management. Currently there are no apps who cover such wide spectrum of functionalities but at the same time very specific and practical to all store or salon's owners. - I have more flexible and inexpensive offshoring workforce => profit is almost guaranteed and loss could be avoided. - Any business idea or plan of development would be from my own experience working for tens of different businesses from various but related fields. Therefore my application would not only be specific and focused, but also be "broad and practical" enough for small business owners to utilize. All competitors on the market now are either too broad or too specific. They are more like "tech lovers" than real business care givers. They have not spent 10 years serving small businesses like me.
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Contact Applicant
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