Helping Hydros | Application Preview
Helping Hydros is seeking government grant funding to support the growth of their business, which has reached full production capacity due to increasing orders from both their store and new wholesale and retail partners. To expand their offerings, they plan to add new product lines and purchase two additional laser engravers, which would significantly increase their production capacity. A small warehouse is also needed to accommodate these new machines and additional inventory.
Currently, both partners work full-time jobs, limiting their ability to manage production. Grant funds would allow one partner to work full-time, expediting product launches and order fulfillment. The business is also looking to pay down credit card debt, which would improve cash flow and save on interest costs.
The funding breakdown includes:
- Credit card debt reduction: $9,500
- Blank 32 oz bottles: $6,900
- Pre-printed 32 oz bottles: $8,100
- Initial order of 30 oz tumblers: $14,400
- Two additional laser engravers: $16,000
- Partner's salary through year-end: $20,000
- Warehouse expenses (rent, utilities, setup): $18,060
By ordering pre-engraved inventory, Helping Hydros aims to process orders quickly, allowing for aggressive marketing strategies. As financial burdens lessen, the company anticipates being able to fund future growth without acquiring more debt.
Marketing efforts will focus on digital advertising, social media campaigns, and partnerships with retail stores to broaden sales channels. The company plans to introduce new tumbler designs and diversify into other products, such as camping mugs and children's bottles.
With aspirations to establish a strong lifestyle brand that supports charitable causes, Helping Hydros believes it can grow into a multi-million dollar company within five years. Founders Austin Sherwin and Sid Henkel bring complementary skills in e-commerce, marketing, and design, positioning the company for success in a competitive market that includes established brands like Hydroflask and Yeti.
Ultimately, Helping Hydros stands out due to their unique designs and commitment to donating 20% of every order to supported causes, offering both competitive pricing and a meaningful purchasing experience.
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General Information
Business Registration Number: 84-2601195
Location: Orem, UT, 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
We have reached a critical point in our growth where we are at full production capacity with the orders that are coming from our store and newly added wholesale and retail partners. We also have new product lines we would like to add to our catalog which will play a key role in our expansion. We are also wanting to purchase two more laser engravers (which would triple capacity), and fund a small warehouse so we have room to set up the lasers and store more inventory. Production has also reached a maximum due to time constraints of both partners who work full time day jobs. These funds would enable one partner to go full time through the end of the year which would greatly speed up our ability to launch more products and start fulfilling more orders. We have been using a credit card to fund inventory purchases as we grow. Paying this down would open up more cashflow and save us hundreds of dollars of interest each month which we could then put towards growth, inventory, and labor. Here is the breakdown of what we are looking to fund: Pay down credit card debt - $9,500.00 1000 Blank 32 oz bottles $6,900.00 1000 32 oz bottles Pre-printed $8,100.00 2000 30 oz Tumblers Initial Order $14,400.00 Additional laser engravers - $16,000 Full time partner through the end of the year - $20,000 Warehouse rent, utilities, and setup equipment (12 month lease) - $18,060
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Business Plan
Ordering pre-engraved inventory will enable us to turn over orders much faster and utilize the lasers to print more designs. This will allow us to get more aggressive with our marketing, both of our branded and non-branded bottles. As cash in the bank starts building thanks to eliminating interest and credit card payments, we will be able to fund the next waves of growth and expansion without going into further debt. The new tumblers will arrive in August and we anticipate these being a big hit, selling more than our current 32 oz bottles. We will launch several new designs of these each month through the end of the year. After that we will begin rolling out other verticals such as camping mugs, children's bottles, and backpacking gear. Marketing will include email promotions to announce new products, giveaway campaigns on social media, and paid digital advertising. We will also be promoting our products to more retail brick and mortar stores and boutiques to get more sales channels going regularly. Getting more lasers and a warehouse will enable us to start processing larger orders and spend more time on growth tactics thanks to the time saved and shipping efficiencies gained. We will also be able to get more aggressive going after larger wholesale and corporate clients. As we grow, we plan on hiring hourly workers to help us process more orders and move more inventory. Once certain milestones are reached Austin will also be able to work in the business full time, and we will bring on marketing teams, bookkeepers, and other talent to free up more time for high level growth activities. As we grow we will continue to partner with new charities and causes to create new designs, and collaborate with charities we already work with to launch new product variations of the designs already created. Our goal is to launch 2-4 new designs and/or products each month. As funds open up we will attend trade shows throughout the year to connect with retailers who can sell our products in their storefronts. We will continue to reach out to small boutiques and lifestyle stores to sell on their shelves as well. Based on market research and third party data we can see Helping Hydros becoming a multi-million dollar enterprise in the next five years. We envision a fully fleshed out lifestyle brand that is known in the space, and featured around the world for the way we promote, help, and partner with charities and non-profits that are making an impact for good in the world. We have been operating this as a side hustle for three years entirely self-funded. Through this processes we have learned a lot and positioned ourselves for serious growth. We have the skillsets, knowledge, and experience to see this company reach its full potential. The two Founders are Austin Sherwin & Sid Henkel: Austin has 8 years experience in ecommerce business creation and consulting. His expertise is in brand buliding and marketing through Amazon.com, shopify, email marketing, and relationship building. Has helped dozens of brands ranging from fresh startups to 9-figure enterprises scale profitably. Sid is a masterful artist and brand designer. He is the artist behind the bottle designs, and all of the graphic design, marketing materials, and website content are his creations. His eye for quality and beauty sets the brand apart in the space, and enables the products to connect deeply with customers and clients. Both founders have a big vision and aggressive work ethic. We are each dedicated to the cause and seeing this company scale to its full potential.
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Self Identified Competition
Hydroflask - this brand has turned itself into a household name brand. They sell millions of products each month and have created a market of lifestyle and eco-concious water bottle owners throughout the United States. Yeti - the high price leader in the space. They are on par with Hydroflask in brand awareness and success. Their products are known for being more rugged and durable, but at a premium. Stanley - has recently made waves in this space with their unique tumbler designs. "stanley 40 oz tumbler" was the 14th most searched term on Amazon in May of 2023. Third party data shows they move hundreds of thousands of bottles each month just through Amazon.com. Helping Hydros are competitively priced with the top brands in the space, while also differentiating through our unique designs combined with 20% of every order being donated to the causes they support. Our bottle specifications and quality standards are on par with the top competitors, and no one matches us on art design or dedication to causes that matter.
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Contact Applicant
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