Lush Beauty Supply | Application Preview
Lush Beauty Supply is seeking government grants to support its growth and development. The funding will be allocated for inventory purchases, hiring employees, and covering operational expenses. The business intends to promote itself through various advertising methods, including print ads, social media campaigns, and commercials, and has plans to expand to additional locations in the future.
The business plan includes implementing a customer management system, analyzing local competition, and establishing a customer loyalty program. Additionally, Lush Beauty Supply aims to build an email list and create strategic partnerships with local hair professionals. There is a focus on diversifying product offerings and potentially acquiring other businesses to enhance growth.
The primary rationale for securing funding is to alleviate financial burdens and avoid taking on loan repayments, which could hinder business expansion. The owner believes that investors with similar backgrounds can provide valuable insights and mentorship, helping to avoid common mistakes in business management. Ultimately, the goal is to foster business growth and create a lasting legacy.
Lush Beauty Supply identifies its main competitors as Sally's Beauty Supply, Walmart, and local hair salons that sell similar products. However, its competitive edge lies in its specialization in human and synthetic hair, a wide variety of wigs, and a diverse range of skin and hair care products, all offered at competitive prices that are generally lower than those of larger, established competitors. The owner emphasizes the unique opportunity for investors to support a promising small business that seeks to carve out its niche in the beauty supply industry.
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General Information
Business Registration Number: Lush Beauty Supply
Location: PORT ST LUCIE, FL, 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
funding will be used for inventory, hiring employees, and expenses. I want to advertise the store by using paper ads, social media, and commercials. Eventually, I plan to expand the store to another location.
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Business Plan
I plan to utilize a customer management system, research the competition in my areas, and create a customer loyalty program. Identify new opportunities, build an email list for all customers, and form strategic partnerships with local braiders, hair stylists, and barbershops. I plan to diversify my offer lineup and acquire other businesses to help me grow. The first reason I want someone to invest in my company is that they can help me overcome financial obstacles to develop and grow my business. I cannot afford a loan due to repayment costs, so having this grant would help me not worry about repayment plans. Investors who have taken a similar path to my business can be valuable assets. I can learn from their advice, business knowledge, and experiences. It is a chance for me to also learn from the mistakes they have made, so they can help me avoid making them. The most important thing for me is to grow my business and leave a legacy for future children.
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Self Identified Competition
My top 3 competitors would be Sally's beauty supplies, Walmart because they carry some of the products I sell, and local hairdressers because some sell wigs and hair products in their salons. I am different from these competitors because my store primarily sells human & synthetic hair, a wide variety of wigs, braiding, and sewing hair. I carry many choices for skin care and hair products. Drug store makeup lines for all skin types are provided as well. The most important thing that sets me apart from competitors is pricing. Compared to prices, I am slightly lower than these stores. My competitors are already well-established businesses, and some can even franchise if they like, so investors can help me reach my goals by fundings a small business like mine.
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Contact Applicant
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