Independence Ventures LLC DBA More Free Time Clean | Application Preview
Independence Ventures LLC, operating as More Free Time Clean, is applying for government grants to facilitate the buyout of a business partner, which would transition ownership from a 50/50 split to full ownership. The company currently has a loan of $95,000 for its purchase, and the funding will be used to either pay down or refinance this loan. Any additional funding would be dedicated to enhancing employee benefits such as medical, dental, paid time off, and gym memberships, acknowledging the high cost of living in the Portland area.
The business plan outlines ambitious growth objectives, including the expansion into Vancouver, WA, and Salem, OR, over the next 2-3 years. The forthcoming Vancouver location aims to attract 20 new clients in its first year, generating approximately $7,000 in recurring monthly revenue. Additionally, a website redesign is in progress to enhance the quote process and target a 100% increase in clientele within five years.
More Free Time Clean boasts over eight years of experience and a solid reputation for reliability. As a women-owned and operated small business, it emphasizes an empowering work environment and a commitment to excellent service in the community. The owner, a first-time entrepreneur, is enthusiastic about the company's growth potential and the possibility of exploring new business opportunities.
In terms of competition, the primary competitors are MerryMaids of Greater Portland, Lael Cleaning Services, and Mina's Maids. However, More Free Time Clean distinguishes itself by focusing exclusively on recurring residential cleanings. This specialization not only prevents employee burnout but also allows for a more personalized client experience, as the same cleaners are often assigned to familiar homes.
The company has optimized operational processes through technology, utilizing virtual consultations for accurate quoting and streamlined payment systems to enhance customer interaction. Overall, the application seeks support to solidify the company's position in the market while fostering a productive work environment and community engagement.
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General Information
Business Registration Number: 1943308-91
Location: Dallas, OR, United States
Length of Operation: 1-5
Number of Employees: 1-10 Employees
Annual Gross Income: $100k to $250k
Annual Gross Expense: Less than $100k
Open to Loans: YES
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Funding Usage
I am buying out my partner in the company, we currently have a 50/50 split of ownership. We currently have a loan for $95,000 for the purchase of the company that I would like to either partially pay for or refinance in my name. If there was extra funding above this amount, I want to devote that money to giving my employees more benefits, such as medical/dental, PTO, sick time, gym memberships, etc, as the cost of living in the Portland area is extremely high and I cannot afford to pay them more because I need to remain profitable.
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Business Plan
1. I am planning to start two new locations of the business and expand our service area over the next 2-3 years to Vancouver WA. and Salem, OR. I have a written budget to make the Vancouver expansion happen in the next 6 months. My goal is to gain 20 new clients in the first year with the Vancouver expansion and an estimated $7,000 in recurring monthly revenue. 2. I have just paid to have our website redesigned to facilitate the quote process and grow our clientele by a goal of 100% in the next 5 years at our current location and double our currently monthly revenue. 3. We have a trademark in place that would enable me to franchise the company at a later date if that is something I wanted to do The company we purchased last year, More Free Time Cleaning, has been in business for over 8 years with a reputation for excellence and reliability. We are a women-owned business, and owner-ran business, as I am involved in the everyday running of the company. We are a positive, empowering work environment that strives to give back to our employees and provide a needed service to our community with an attitude of excellence and positivity. This is my first business I have owned, and as a new entrepreneur, am excited to grow this company and watch it grow and possibly open the door to other business opportunities down the road. Because we are not a "corporate" company, and only have 5 employees, small businesses like us are the backbone of the American economy and are the symbol of the American dream. I would love to see this company grow into many locations, and create a thriving company culture that continues to gain a reputation for honesty and excellence.
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Self Identified Competition
1. MerryMaids of Greater Portland- corporate cleaning company with locations throughout the USA. 2. Lael Cleaning Services 3. Mina's Maids We are unique from all our competitors in that we focus ONLY on recurring residential cleanings. We do not do carpet cleaning, one-time cleanings, move-in or move-out cleanings, commercial cleanings or construction cleanings. This helps our employees not to burn out, and helps keep our pricing structure and profit margins easy to understand. Also, it helps give our clients a positive experience, as we usually are able to send the same cleaners to their homes each time to learn their preferences. Another difference is that we have the best of both normal types of cleaning company. We are not a corporate cleaning company, so we have a closer relationship and more streamlined communication with our clients, so they are only communicating with one person and know them. We also have systems in place that make us more streamlined than our smaller, owner-operated counterparts. We have a streamlined scheduling and payment system that makes it seamless for the customer, from booking to payment. We run every aspect of the company from our computers, from doing virtual online booking via Zoom to solving customer complaints over the phone. We don't accept clients until we have seen the inside of their homes via Zoom, as this keeps our quotes accurate and our cleaners happy with expectations.
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Contact Applicant
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