True Steez Productions | Application Preview
True Steez Productions is seeking government grants to purchase a large inflatable dome that would serve as a portable venue for events, capable of accommodating over 500 guests. The aim is to tour throughout the Midwest and beyond, allowing the business to reach a broader audience without incurring venue rental costs, ultimately keeping more profits within the organization. The plan includes collaboration with local food vendors and merchandise sales to increase revenue.
The primary expenses following the dome acquisition will be artist fees, which can expand in alignment with the growing profits from the events. Additionally, the business plans to rent out equipment, generating extra income as it tours. The peak profit period is anticipated to be between spring and fall, during which collaborations with other businesses for larger events will occur.
The owner emphasizes their seven years of voluntary experience in the industry, arguing that the key obstacle to advancing the business is the lack of a portable venue. To support the funding request, they mention a valuable sound system that can serve as collateral, along with cryptocurrency assets.
In terms of competition, the biggest challenge comes from established companies like Live Nation, which have more resources. However, the owner believes that many in the industry lack innovation and rely on blaming larger companies for their difficulties.
True Steez Productions aims to distinguish itself by offering a unique experience, incorporating quadraphonic sound and collaborating with visual effects artists for immersive 360-degree visuals within the dome. This approach sets them apart from competitors who often utilize subpar venues, positioning True Steez Productions as a pioneering force in the Midwest's entertainment scene.
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General Information
Business Registration Number: 88-3560774
Location: cedar rapids, IA, 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
We would be using this money to buy a large inflatable dome to use as a portable venue capable of hosting 500+ guests, and touring around the midwest and beyond to be able to serve a wider audience without having to pay for venues and letting said venues make all of the profit. Planning on teaming up with local food trucks and vendors along with creating merchandise to boost profits.
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Business Plan
Essentially, after I have the dome the biggest thing I’ll have to pay for is artists, and that is scalable with the amount of profits coming in, slowly getting bigger and better performances. I’ll also be able to rent out equipment to make an extra few thousand a month, and that will also grow as I tour the midwest and people learn about us. From Spring until Fall, I’ll be able to collaborate with other businesses to host larger events and that period will be where I’m making the most profits. I think that investors should consider putting their faith in me because I’ve had experience in this industry voluntarily for the better part of 7 years. I know the ins and outs, and the only thing stopping me from taking this business to the next level is having this pop up venue available to be able to tour anywhere at a low cost. I also have been gifted a sound system worth more than the 25000 I’m requesting that could be put up as collateral and roughly 12000 in cryptocurrency.
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Self Identified Competition
The biggest competition would be Live Nation, but thats because they have a virtually limitless budget and a lot of people in the same industry at my level like to blame them for their lack of success, but in my opinion it should be considered a poor excuse for their lack of innovation. All of my competitors follow the same formula: Find some dingey bar or venue with barely any space, terrible lighting, poor sound quality, or all of the above. I plan on providing a fully unique experience by introducing quadraphonic sound inside of the dome, and eventually partnering with visual effects artists from Minnesota and California who have experience creating 360 visuals over an entire ceiling, sort of how a planetarium works. We don’t have this anywhere in the midwest currently except for at infrasound music festival, and luckily for my business they are going to be helping me realize my vision as well.
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