Octofoam LLC | Application Preview
Octofoam LLC is seeking government grants to enhance its operations and navigate the challenges of starting a business, particularly during the slower winter months. The funds will be allocated towards finding a more suitable workspace than a storage unit, covering ongoing monthly expenses, maintaining material inventory, and launching marketing campaigns.
In terms of growth, the owner aims to expand the business significantly over the next five years, planning to acquire more rigs—specialized trailers for spray foam work—and increase the workforce. Effective marketing strategies, including Facebook and Google ads, have proven successful so far. The focus will also be on building relationships with home builders and contractors to secure a steady stream of work.
The owner emphasizes their strong work ethic, noting sacrifices made to ensure business success. They have committed to reinvesting profits back into the company instead of drawing a salary and have been living frugally to support this goal.
Octofoam LLC faces competition from larger companies and franchises but differentiates itself through honest practices, customer education, and a commitment to treating employees and clients well. The owner believes their partnership with a cutting-edge equipment supplier gives them a competitive advantage, as they have access to innovative technology that others may not.
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General Information
Business Registration Number: 882051870
Location: Greenfield, IN, United States
Length of Operation: 1-5
Number of Employees: 1-10 Employees
Annual Gross Income: $100k to $250k
Annual Gross Expense: $100k to $250k
Open to Loans: YES
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Funding Usage
Funds will be used to find a better place than a storage unit to operate out of also to help take care of monthly expenses through winter as its a slower season especially starting out capital to have material on hand. marketing campaigns
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Business Plan
Within 2 years I hope to have a second rig and 2-4 full time employees. Within 5 years I hope to have 3 rigs and 10 employees (rig - trailer with specialty equipment for spray foam). To get the workload plan to use facebook and google ads which have worked very well for me so far and eventually I will have enough word of mouth that ads will be minimal. All of my customers have been extremely happy with the services provided and i believe happy customers and word of mouth is the biggest key to success. I also plan to develop relationships with home builders and general contractors. I am a hard working, ambitious, 27 year old, entrepreneur, Christian. I am hungry to be successful and want to pay it forward and help other young people be successful. I have worked 16+ hour days every day and I have taken zero money from the business and don't plan to until its consistently bringing in profit. I've been living with family eating nothing but ramen since June. I don't want anyone to feel sorry, I am just trying to say that I'm making the necessary sacrifices to be successful.
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Self Identified Competition
Indiana spray foam - Large, other side of state USA Insulation - franchise, local location, does spray foam but specializes in other types of insulation. I'm honest only selling customers what they need not as much as i can get from them like other companies. I educate the customers to understand how to make an informed decision. I believe in treating employees and customers right even at my own expense. The company I Purchased my equipment, and still buy my raw chemical from is developing cutting edge technology in the foam industry that competitors don't know about or have access to.
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Contact Applicant
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