OM OF THE SOUL | Application Preview
OM OF THE SOUL is seeking government grants to support its growth and operational needs. The funding will enable the business to expand its inventory and relocate from its current cramped home-based setup, which has overtaken multiple rooms in the owner’s house. The goal is to build a dedicated facility on the property, complete with proper amenities, to facilitate ongoing growth.
The business plan includes enhancing sales through subscription boxes, wholesaling, and general sales, but current limitations in inventory space hinder this expansion. High demand leads to rapid sellouts of products, necessitating increased investment in inventory.
The owner possesses a strong skill set in website development and a distinct vision for branding. They have effectively created a customer-focused business, prioritizing excellent service and ensuring that every customer feels valued and heard. This customer-centric approach has been key to building a supportive online community.
Instead of viewing competitors negatively, the owner analyzes their successes to gather insight and inspiration. Their competitive edge lies in not only selling similar products but also educating customers about the spiritual significance of those items. By sharing their personal journey in spirituality, the owner makes the experience relatable and educational, fostering customer loyalty.
To diversify marketing efforts beyond social media channels, the business has launched a spiritually themed newsletter with over 1,000 subscribers and hired additional staff to enhance SEO and online presence, aiming to drive traffic and sales through various revenue streams.
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General Information
Business Registration Number: 86-3265864
Location: Pinconning, MI, United States
Length of Operation: 1-5
Number of Employees: 1-10 Employees
Annual Gross Income: $250k to $500k
Annual Gross Expense: Less than $100k
Open to Loans: YES
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Funding Usage
We do have great margins on our product so we have room to grow, but since we did not start with a large sum of money we are using our profits to build inventory. The influx of funding would not only allow us to properly build our inventory but it would also allow us to move out of my home basement. We have completely taken over the entire basement, home office , garage and storage closets. Our plan is to build a building on our property with a bathroom facility and large enough room to continue our growth!
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Business Plan
I want to open up more growth of sales on our website by offer subscription boxes, wholesale and sales in general. We are being held back from that growth due to a limited space for inventory storage and inventory in general. Our sales demand is so high that once we get our inventory it sells out within a month or two so we are needing more money to put into inventory purchasing as well. I have a unique set of skills that expands to my website development which I have done all on my own, with minimal help from a designer. I have a unique understanding of branding and unlimited capacity for envisioning how far I can and will expand my business. Not only do I have a specific vision for branding, I have found my calling by creating this business as being my own personal dream job. Each aspect of my company is a vision that I implemented based off of a store and spiritual experience that I wish I had access to when I was first learning. I have a personal interest and massive investment in the personal experience that each and every customer has when interacting with my business which means that I understand the number 1 most important rule in maintaining a business long term and in my opinion that is customer service and making each customer not only feel seen and heard but also making them feel comfortable that they an come to me with each and every concern that they may have. This has proved to be a beautiful foundation for my success and genuine presence in my online community.
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Self Identified Competition
When I first started my business I tried to never compare myself to my competitors but to analyze their success and what they are doing right. Allowing myself not to feel lack when analyzing their success but to get excited for the possibility of what could happen for my business if I persevered through the beginning stages. Even though my competitors and I all sell the same type of product what I like to do to stand out from them is to focus not on the sale itself but to focus on a teaching angle and connecting by using my individuality to appeal to their journey. I have always had an interest in writing, psychology, philosophy and spirituality. I have a special talent for recognizing how to teach the how and why we do what we do and connecting that with the spiritual side of life and teaching it in an understandable light that takes the overwhelm out of the equation. My life purpose is to help people and by teaching from the perspective of my own spiritual journey in turn that helps others and allows them to understand energy and ultimately helps my sales since I sell crystals and spiritual journey tools. I also recognize that I sell from the platform of instagram like my major competitors and you can not build an entire business only relying on a social media platform. So I also engaged in writing a spiritually based newsletter to entice buyers to sign up. As of right now we have over 1,000 subscribers. I also hired a new employee to help us focus on SEO and growing our website presence so that we can get our other revenue streams out there more.
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Contact Applicant
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