City Riders LLC | Application Preview
City Riders LLC is seeking a $50,000 government grant to support its growth strategy, focusing on covering costs for an overseas development team and marketing initiatives. The company aims to achieve significant expansion through comprehensive marketing efforts, ultimately positioning itself for an initial public offering (IPO).
The diverse target market presents a substantial opportunity for success, as City Riders plans to address user needs and preferences based on feedback from potential customers. While acknowledging that all investments carry risks, the business believes that effective marketing and value delivery can pave the way for substantial returns.
In terms of competition, City Riders faces established players like Strava, Tonit, and Roadster. However, their unique competitive edge lies in appealing to a broader audience compared to competitors who have a more focused approach. City Riders intends to strike a balance between user engagement and affordability, aiming to capture a significant share of the market while maintaining competitive pricing.
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General Information
Business Registration Number: 88-4111978
Location: st francis, WI, 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
The $50,000 that is being requested will go towards paying the overseas development team and upcoming marketing expenses.
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Business Plan
I plan on growing City Riders exponentially through extensive marketing. Hence why I would need access to more capital in order to be in such a position. But with marketing being something that's needed to target my potential user base. Once that is obtained there is so much potential that it's hard to quantify. The ultimate goal of the company is to be in a position to offer an IPO. Therefore with that influx of capital we will be able to expand furthermore and do acquisitions potentially. City Riders is a great investment because we target a broad range of users. The target market is so broad and diverse which gives us a huge opportunity to succeed. We believe with the right marketing while also providing the utmost value. That gives City Riders the potential to succeed far beyond what can be imagined. We are targeting markets that face similar problems. Thus, it is ultimately up to the markets we are targeting to give us feedback on if this want or need is something that they desire. As a result, it is all a risk, but everything in life can be considered a risk. You just have to have faith and take the leap.
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Self Identified Competition
• Strava •Tonit •Roadster The main difference between City Riders and our competition is that we have a broad target market. In which our competitors have a more centralized focus. Thus, this may play out to be a good or bad thing for us. But we have also noticed that there is a lack of user engagement while also offering a hefty premium. So with City Riders finding that sweet line in between having a sufficient user base, while also being price friendly. We can be just as good as a competitor.
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Contact Applicant
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