Bearberry LLC | Application Preview
Bearberry LLC is applying for government grants to support various aspects of their business, including manufacturing, shipping, office maintenance, marketing, research and development, and hiring. The funding will cover approximately $100,000 in total expenses, with allocations of 35% for manufacturing, 15% for shipping, 20% for marketing, and smaller portions for maintenance, R&D, and wages.
In the first year, Bearberry plans to launch its gazebo product line in the US, increase manufacturing capacity, and begin R&D on new features. Over the next four years, they aim to introduce innovative designs, expand product offerings, target new markets, and develop partnerships with architects for high-end projects. By year five, they expect to explore new distribution channels and enhance their product line with technology.
The company believes they have a strong case for funding, citing years of development, existing patents, and the founders' extensive industry experience. They recognize a growing demand for high-quality outdoor products, particularly in the hospitality sector, and anticipate that their unique design and modular approach will fill existing market gaps. Bearberry also emphasizes its potential for domestic manufacturing, creating jobs, and fostering innovation in multiple sectors.
In terms of competition, Bearberry distinguishes itself from companies like Teak & Table and Azenco by offering a customizable product with superior materials and innovative features at competitive prices. Their modular design allows for easy shipping and assembly, appealing to consumers looking for quality and versatility in outdoor furniture. Overall, investing in Bearberry is seen as a promising opportunity for growth in the US market.
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General Information
Business Registration Number: 83-0655776
Location: CHESHIRE, CT, 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
1. Manufacturing and production costs (35%, approx. $35,000) 2. Shipping and importation costs (15%, approx. $15,000) 3. Office maintenance costs (5%, approx. $5,000) 4. Marketing and customer service costs (20%, approx. $20,000) 5. Research and development costs (15%, approx. $15,000) 6. Wages & hiring costs (10%, approx. $10,000)
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Business Plan
Year 1: • Launch the current gazebo product line in the US market (advertising online, in person consultation) • Expand manufacturing capacity to meet demand (partial materials in Mexico, assembled and packaged in the US) • Begin research and development of new features for the gazebo, such as all-weather capabilities and indoor capabilities Year 2: • Introduce new features (all-weather) for the gazebo to the market, look to expand to northern coastal customers • Continue to expand manufacturing capacity, look into manufacturing capabilities domestically • Begin research and development of soundproofing and technological capabilities to introduce in the market Year 3: • Expand the product line with new products that complement the gazebo, such as outdoor dining and furniture sets, launch technological & soundproofing capabilities for indoor line • Increase brand awareness and marketing efforts to reach a wider audience • Continue to improve and innovate the gazebo product line with new features based on customer feedback Year 4: • Expand the gazebo product line to international markets, exportation • Develop partnerships with architects and designers to showcase the product in high-end residential and commercial projects • Continue to research and develop new features and products to introduce to the market Year 5: • Continue to expand the product line with new products that complement the outdoor, indoor, and technology industries • Explore new markets and distribution channels, such as specialty stores, and create collaboration • Further improve and innovate the gazebo product line with new features and technology Exit strategy option: If the company decides to sell the business in year 4 or 5, it can pursue a sale to a potential buyer or investor who values the company's brand, product line, and growth potential. The company can engage a business broker or investment bank to help identify potential buyers and negotiate the terms of the sale. The sale can provide a return on investment for the company's founders and investors, as well as provide resources for the buyer to continue to grow and expand the business. This product has been in designed and developed over many years and has patents in the US, EU, and Australia. My husband and his Italian business partner combined have decades of experience in this industry and are ready to bring it to the US market. Their connections with Europe and Asia allow for the possibility for expansion and exportation in the future if we can create our own manufacturing within the US, eventually. The products we are offering are also something that, we believe, there is not only a current need for, but a need that develops with the age of technological advancement. Currently the need for high-quality products in the US in the travel and hospitality industries is needed not only for businesses who have many hundreds of customers interacting with outdoor furniture, but also for the average consumer who tires of personal leisure products that are made of cheap and easily breakable materials. Our design is stunning and clean. In addition, as the US moves away from importation from China, having existing relationships established for these products and the ability to eventually move domestically can help to create more jobs and revenue inside the US. With the advancement of this product for what we have in store for our R & D, there also remains a market for private spaces that can be adapted for immersive environments, such as gaming and education. The possibilities for this product are versatile, yet it has a solid standing in the traditional outdoor furniture market already. And investment in our business is an investment for further growth and development inside the US across multiple sectors, as well as an investment in quality products.
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Self Identified Competition
1 Teak & Table: While Teak & Table is known for their exceptional craftsmanship and use of high-quality teak wood, their product line is limited to wooden furniture pieces. This limits their versatility and flexibility in terms of design and functionality. Our product, on the other hand, offers a clean, modular, Italian design with superior quality aluminum construction that can be shipped and assembled. Additionally, our product offers more advanced technology and flexibility, including all-weather/four-season capabilities, indoor use, and more. 2 Azenco Outdoor: While Azenco Outdoor does offer outdoor modular design, their products come at a high cost. In contrast, our company offers a comparable product in terms of quality and design at a more competitive price point. Additionally, we are able to produce our products more quickly than Azenco Outdoor and customize more easily. 3 Telescope Casual Outdoor Furniture: While Telescope Casual Outdoor Furniture offers a wide range of outdoor furniture products, their design aesthetic is generally more casual and does not have the upscale feel of our product. Additionally, they do not offer explicit gazebo products, instead focusing on umbrellas and other items that pale in comparison to our gazebo products. 1 Design and innovation: Our company has a unique and patented design and innovative features that set our product apart from competitors. Our product's Italian design and modular, clean look will appeal to customers who are looking for a high-end and sophisticated product that is not offered by competitors. 2 Material quality and construction: The superior quality aluminum construction of our product is something our customers will value as they prioritize durability and longevity when selecting outdoor furniture, and we can offer consultation on customization to our clients' needs which is a key selling point. 3 Shipping and assembly: Our modular design is a key differentiating factor which makes our product unique and customizable. In addition, the fact that our product can be shipped and assembled is a significant advantage over competitors who do not offer this option. Preassembled furniture is bulky and incurs additional costs and difficulty in delivery, especially in higher volumes. Customers are willing to pay more for a product that is easy to assemble and can be shipped directly to their doorstep, rather than having to go to a physical store to purchase and transport the product themselves, especially knowing that the design is conducive to being assembled and disassembled easily for relocation as needed, but can also weather all different conditions, especially along the coast. 4 Versatility: Our product is highly versatile and can be used in a variety of settings or configurations, this sets it apart from competitors who offer more limited options. Customers who value versatility and flexibility in their outdoor furniture are more likely to choose our product over others.
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