Stewart Enterprises LLC | Application Preview
Stewart Enterprises LLC is seeking government grants to support the down payment and renovations needed to launch their business. The proposed business plan spans 2.5 years and involves purchasing a building to renovate apartment rentals and add storage units. The goal is to expand the rental property portfolio in order to alleviate the housing shortage in the local community.
The applicant emphasizes their lifelong connection to the community and their commitment to establishing a business that is locally owned and operated, ensuring that revenue remains within the area.
The competitive landscape includes short-term rental companies like Airbnb and VRBO, seasonal residents who only occupy the area from October to May, and Mt. Edgecumbe Hospital, which is acquiring land for its medical staff housing.
To differentiate from competitors, Stewart Enterprises plans to focus on long-term rentals, prioritizing the housing needs of local residents rather than pursuing short-term profit opportunities, thereby fostering community growth and stability.
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General Information
Business Registration Number: 2171720
Location: Sitka, AK, 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
20% down payment and funds to renovate and redesign property needed to start business
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Business Plan
Over next 2.5 years I plan to purchase a building, renovate and redesign apartment rentals and add storage units. The next 2.5 years I will purchase more rental properties to expand business and help out with housing shortage in my community. I have lived in this community all my life. I want to start a business that will be owned and operated 100% by locals and keep the revenue in this community instead of taking it out of town. I would like to create more long term housing for the future of my community.
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Self Identified Competition
1- Short term rental companies, all of them Airbnb, VRBO etc. 2- Part time residents of the community that come in the summer and leave in the winter. So they only have rentals from Oct- May, then people have to find another place to live which is difficult with all the short term rentals. 3- Mt. Edgecumbe hospital. This hospital is buying up all the available land for discounted and free housing for their doctors and staff. Which in turn helps drive the housing shortage for locals. I plan on not succumbing to the fast easy cash that is being offered by short term rental companies and renting long term to our community that so desperately is looking for housing. and keeping the revenue in this community instead of the communities in the lower 48.
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Contact Applicant
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