Nicks Pop Wonderland | Application Preview
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General Information
Business Registration Number: 92-3250636
Location: Roanoke, VA, 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
Start business out of my house using the internet as a primary source of reselling Funko Pops. I plan to invest back into the community using art scholarships or grants for students in high schools and colleges. I plan to reinforce the positioning of the business to ensure its stability and plan to complete a business plan (franchising or further expansion). Logistic expenses: employee salaries, shipping materials, computer/ equipment (including maintenance), product purchases (stock), transportation of product (vehicle), communications (internet, phone, etc.).
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Business Plan
I plan to start out in my house using the internet as a primary source of selling Funko Pops. After the second year I see the possibility of a small shop while continuing to sell online. By the third year I plan to invest back into the community using art scholarships or grants for students in high schools and colleges. By the fourth year, I plan to reinforce the positioning of the business to ensure its stability. By the fifth year, I plan to complete a business plan, looking into franchising or further expansion. As of June 2023, I will have completed working for the Department of Veterans Affairs as a Law Enforcement Officer. I am also a veteran. I am looking for a better quality of life and find that this is an opportunity to create/ re-invent something new. My long term/ future goal of this business is by supporting young independent artists, who may advance the future of Art, through the use of Custom Funko Pops (Domestically and Internationally). A point has been made that FUNKO who has cornered the market, does want artists to use their products and customizing them. They will try to argue the point that their items are being altered to make money of their items. This point sound valid; however, reason states that it is not a valid argument. Firstly, (an example), a painter may buy a canvas from a company; it does not mean it owns the ideas that are placed on it. Nor does that mean it can have the sales from such an action by the artist. In this sense the canvas company has already made it money by selling the product it made. Secondly, Funko fails to understand that enhancing their items, only supports the idea of Capitalism (the ability to invoke economic growth and competition. Without competition Funko will continue to have a monopoly. If Funko chooses to compete it must continue to enhance its product (striving for Consumer Demand). Funko only sees Customizations a threat to its dominancy, but Customizations inspires innovation, imagination, and artistic growth in a society where art has been diminished over time, via school budgets and other demands that do not embrace the arts.
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Self Identified Competition
Funko- itself is a competitor. It is top of in the Funko Pop market and made its mark since around 1998. It has multiple ways regarding its distribution (domestically and international). At this time, Funko has cornered the market due to its ability to license and manufacture its product. Currently it utilizes resellers, retailers and other avenues to bolster its position to control the market. Funko manufacturing facilities are in China and Vietnam, etc. (outside the US). Youtooz Collectibles- is the only real other competitor to FUNKO. It has been eclipsed by Funko due to its mammoth size. Youtooz is a young company, but limited (started in 2019). It makes similar products to Funko, but has its own way of portraying characters. Its manufacturing facilities are in Shenzhen, China. The main difference is that I am not manufacturing items. I am reselling Funko pops with the end goal of brokering Customized Funko Pops (art) made by independent artists. These major companies are selling products made overseas, but not showing talent in the United States has been underrated. My attempt to change the paradigm is the difference between not only assisting economic growth and competition, but innovation, capitalism and artistic expression.
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Contact Applicant
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