The Lighting Lab | Application Preview
The Lighting Lab is seeking government grants to cover overdue expenses related to rent, employee wages, inventory, equipment, and marketing. The company operates in a prime location in Buckhead, Atlanta, but faces a significant rent burden that has stalled its growth plans. They are aiming to relocate to a more affordable space while planning to hire additional staff to enhance their craft.
Since opening in 2013, The Lighting Lab has maintained profitability, with its first year generating $200,000 in revenue. The business has established a loyal client base, serving customers nationwide and internationally, despite a decline in business due to the pandemic.
In terms of competition, The Lighting Lab faces limited rivals in its niche market, including The Lamp Shoppe, Big Chandelier, and Masterpiece Lighting. Although these competitors generate higher revenue, The Lighting Lab differentiates itself through its focus on craftsmanship and the quality of its personalized customer experience.
The company's competitive advantage lies in its high-end clientele and strong word-of-mouth referrals, which have helped sustain growth. They pride themselves on delivering tailored services for a variety of projects, setting them apart from more retail-driven competitors.
-
General Information
Business Registration Number: 46-4031514
Location: Atlanta, GA, United States
Length of Operation: 7
Number of Employees:
Annual Gross Income:
Annual Gross Expense:
Open to Loans: YES
-
Funding Usage
Rent owed, employees, inventory, equipment, advertising/marketing, business accounts are overdue for payment.
-
Business Plan
We are in a prime location in the Buckhead area of Atlanta. Although the rent is a huge liability which is keeping our current growth plan at a standstill. We will be looking for a new location with just as much exposure though much less in rent. Along with the relocation, I will be hiring another employees to train in this craft. Since 2013 we have been a profitable business. Our first year clearing 200,000. Since opening, we have solidified a client base and continue to accept new clientele. We work with clients from all over the country, as well as some overseas. This is a niche market that we have secured. This request for funding was never intended. Since the pandemic the business has rapidly declined.
-
Self Identified Competition
There are very few competitors in this industry. There are significant differences that we overcome compared to other companies. In the area there are The Lamp Shoppe, Big Chandelier and Masterpiece Lighting. These businesses continue to make much more revenue than us, but we offer a much more on-hand experience. We are not as retail-driven as any of these companies. We are known for our craftsmanship and high caliber of artisanal knowledge. We have built a high-end clientele who have been a significant part of our growth. Word of mouth has fueled our business. Our continued client approval has kept us growing. We offer a much more customized or tailored experience to the wide variety of projects that we accept.
-
Contact Applicant
Subscribe to our Administrator Dashboard to gain full access to this application. Learn More
