Liqwood Forest LLC | Application Preview
Liqwood Forest LLC is applying for government grants to enhance its business operations. The funding will enable the company to buy materials in bulk, leading to reduced overhead costs and the ability to produce inventory furniture, creating a steady revenue stream beyond custom projects. Additionally, it will allow for improvements in the shop and investment in efficient tools, which will eliminate the need for more staff, allowing a greater focus on social media marketing.
The business plan emphasizes leveraging in-house resources for social media, marketing, and videography. Time will be allocated to engaging followers on platforms like Facebook, Instagram, and YouTube through project updates and sponsorship content. By maintaining inventory, the company aims to prioritize high-end custom work while generating residual income.
The reason for seeking funding traces back to the company's founding in 2018, aimed at providing flexibility to spend time with family. After facing numerous challenges, including disruptions from the pandemic, the company managed to evolve and rebrand while building strong relationships with clients. Currently, without adequate funding to transition to a full-time focus on Liqwood Forest, the business owner believes that dedicating full energy to the company would lead to increased efficiency, more orders, and growth in revenue through enhanced marketing efforts.
In terms of competition, the primary competitors include local woodworking businesses, but they lack the specialization in epoxy work that Liqwood offers. The company’s competitive edge lies in its unique journey of gradual growth without external financial assistance. It combines hands-on client interaction with a strong online presence to stand out, particularly as a black and female-owned business in a niche market. The owners are requesting financial assistance to reach their full potential and continue building on their success.
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General Information
Business Registration Number: 92-1846692
Location: Tulsa, OK, 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
A grant would allow us to buy more material in bulk. This not only allows us to save money in overhead, but also would provide the opportunity to build furniture to have in inventory; creating a sustainable source of revenue, rather than per custom project only. It would also permit us to invest in improving/upgrading the shop and more efficient tools for quicker and more efficient building. This would also remove the need for additional employment in order to focus on the social media outreach and gaining revenue from these platforms.
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Business Plan
The company has its own in-house social media, marketing, and videographer. More time will be daily allocated to this area of the business to grow a following on FaceBook, Instagram, and YouTube, and other forms of revenue. This includes being interactive with followers, posting videos of projects being completed, how-to videos and sponsorships. We also plan on having inventory as a residual, so the custom work can be focused and high-end. We started this business in 2018 to allow us to have the funds and flexibility of schedule to see our son after he moved with his biological mother 18 hours away. The first few years were full of hard-learned lessons on just about everything that can and will go wrong in our line of business. The pandemic really put a damper on our growth and we almost decided to give up entirely. This time, however, allowed us to reflect on previous mistakes/ unforeseen incidents and set goals for the future. Thankfully, the market in our area continued to show promise and we were able to stay afloat with the help of outside work. Since then, we have rebranded, built up our SEO, marketing, videography, and built relationships with businesses and clients. As convinced as we are that we have an opportunity for a sustainable business, we know we still need some help. Currently, the builder has a full-time job as our revenue is based per project. He has a degree in business and years of management under his belt. We know if he is able to put the full-time energy into his own business as he does for other businesses, our business will be more than successful. Our build time would significantly decrease, allowing for more orders and inventory, and therefore, more revenue. More projects leads to more marketing and social media content, which also lead to more revenue. We have everything else we need to be successful, we just need help coming up with the capital. We would be very grateful for any assistance you are willing give.
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Self Identified Competition
-Woody River Hardwoods: He has access to good material as he owns a lumber company as well. They are in a more rural town about 30 minutes away. -Kirk Kreations: They have a wide variety of products, but don't specialize in epoxy work as we do. They are in a smaller city about 25 minutes away. -Tulsa Custom Woodworking: While they are in Tulsa, they also do not specialize in epoxy work and don't have much of an online presence. Our business is different in that we have not had help with our business in the forms of grants or loans (outside of a small grant during the pandemic for a company with 1 employee at the time). We have built our business up slowly; accruing tools, a shop, a truck, and clients a little at a time with what we could afford while maintaining other full-time jobs. Although black and female owned businesses in general are not rare, they are scarce in our particular field of work. We also take time to meet up with our clients in person in their homes, give picture and video updates of their projects, and personally deliver and install within a 350 mile radius. The biggest difference, however, is our attention to online SEO, presentation, and outreach.
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Contact Applicant
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