Good Deal Event Rentals | Application Preview
Good Deal Event Rentals is seeking government grant funding to enhance its operations and expand its workforce. The funds would be allocated toward hiring additional employees, increasing storage capacity with a larger building, and acquiring more equipment and vehicles.
The business aims to grow significantly over the next five years by increasing staff to manage more rentals, setups, and deliveries, which are its main income sources. Alongside this, they plan to expand their vehicle fleet for efficient delivery and setup across various locations. A key part of their strategy involves evolving marketing efforts to attract a broader audience, particularly targeting corporate clients and fostering strong customer relationships to encourage repeat business.
Good Deal Event Rentals believes that the funding would be a wise investment for several reasons. Located in the rapidly growing Des Moines area, the company identified a gap in the market due to a shortage of large rental companies. The owner is dedicated to building a reputable business and is passionate about serving the local community, which also includes plans to bring in clients from surrounding areas. The business has unique ideas, such as drive-through rental and drop-off services, akin to grocery curbside pick-up, which aims to improve customer convenience.
In terms of competition, Good Deal identifies several key players, including A-Z Rentals, which recently closed, Elegant Rentals, and Metro Rentals. The business differentiates itself through exceptional customer service, flexibility, and innovative solutions tailored to post-COVID consumer demands. By prioritizing transparency in pricing and offering online booking options, Good Deal aims to foster trust and enhance customer experience. Ultimately, the goal is not only to establish itself as a leading event rental provider but also to branch out into other rental services, becoming a comprehensive solution similar to U-Haul or United Rentals.
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General Information
Business Registration Number: 87-4204325
Location: Grimes, IA, 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
I’d like to use whatever funding I get to hire more employees which I need to expand the amount of work I’m able to accept. At the moment, I don’t have the man power to accept more rentals because I don’t have enough people. I’d like to rent it build a bigger building to store equipment and rent from as a main base. I also need to use any funding I get to purchase additional equipment and vehicles.
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Business Plan
Within the next 5 years I plan on growing my employee number so I can accept more rentals, set ups and deliveries which bring the most income. I plan to expand my vehicle fleet also which will allow other workers to deliver and set up at different locations. I plan to keep evolving my marketing strategy to target bigger audiences in the state of Iowa and beyond and more corporate clients. Growing customer relations is also a big priority to earn the trust and reputation needed to keep return business and also new clients. I believe investors should invest in me because in located in the Des Moines area which is growing incredibly fast and also has a lack of big rental companies to serve the city. Through my first year I’ve come to see that there are more clients to serve than business’ to serve them. I’m extremely dedicated to working hard to grow this business and building a good reputation with the residents of Des Moines and surrounding areas. I’m incredibly driven and will do whatever it takes to succeed in something that I’m passionate about like this business I’ve started. Investors would know that investing with me is the first step in growing a business that will eventually be returning the favor to the city of Des Moines. This business has the ability to serve our local community and also bring in income from other cities that don’t have a rental business near them and the potential to create jobs on a bigger scale as we grow and expand. We also have innovative ideas that we don’t believe other companies like us are implementing. We plan to have rentals as a drive through pick up and drop off, similar to how grocery stores bring your groceries out to you or LOF does oil changes without having to leave your vehicle. We want to implement software that allows a client to drive through our warehouse with a scan code, pull in with no need to exit the vehicle, get their items loaded for them and drive out the other side. This will be used for drop offs as well. Simplicity is the new meta in our world whether it’s ordering online, which we currently do, or drive up/curbside options.
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Self Identified Competition
My top three competitors were A-Z rentals, who closed their doors at the end of last year, leaving an open space to be filled by a new company, which I hope to do. Elegant rentals is another company who focuses more on weddings, dish ware, which we plan on incorporating as we grow. Metro rentals would be the 3rd who seem to be the most similar to my operation in the sense of size and equipment. What makes my company different from my competitors is our customer service and ability to work around others schedules. Also, our ability to innovate and adapt with the changing times brought after Covid-19. We plan to incorporate curbside style pick ups like most companies did in the last couple years for ease of customers which is what most people are looking for in a business. We show prices online for complete transparency which builds trust with clients and also allow clients to book their own orders without needing to call unless they prefer to. I think what makes us different than other companies is we’re not just looking to rent equipment and stay stagnant or complacent. We want to grow and be innovative. We want to be the next big service provider of not just event rentals but cars, trailers and storage. We aspire to be the next uhaul, United rentals and the event rental company combined.
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