Wood Renewal of DFW, Inc. | Application Preview
Wood Renewal of DFW, Inc. is applying for government grants to support various operational needs including marketing, business expansion, payroll, equipment purchases, and job materials.
The company plans to increase investment in digital marketing services provided by Kite Media, as these efforts have proven effective in driving business growth compared to traditional print advertising. Additionally, there are plans to engage in local radio ads and expand the workforce by hiring another crew, while maintaining a partnership with a subcontractor specializing in hardwood flooring.
Since its inception in 2016, Wood Renewal has consistently demonstrated resilience and growth, achieving nearly $500,000 in gross revenue in the last two years. The owner is optimistic that with additional capital from grants, the company can continue this upward trajectory.
In terms of competition, Wood Renewal faces challenges from businesses like Color on Cabinets and SpraySource, as well as local painters. However, the company differentiates itself by offering a wider range of services, such as customizing cabinetry with features like pullout drawers and lazy Susans, using a durable proprietary paint, and following a more meticulous process of painting and rehanging cabinets. This competitive edge positions Wood Renewal as a strong player in the cabinet refacing and refinishing market.
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General Information
Business Registration Number: 81-3290348
Location: Dallas, TX, United States
Length of Operation: 1-5
Number of Employees: 1-10 Employees
Annual Gross Income: $250k to $500k
Annual Gross Expense: $100k to $250k
Open to Loans: YES
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Funding Usage
The usage will consist of general working capital and will be deployed for multiple buckets including marketing, expansion, payroll help, new equipment purchases, materials for jobs, etc.
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Business Plan
We currently use an outstanding digital marketing company (Kite Media out of Logan, UT) that handles all of our SEO and PPC marketing efforts - I would like to allocate more dollars to their services because we are seeing more traction with digital marketing than we see in print. We will also still partake in local radio ads periodically as well. I will also look to bring on another crew to help us scale our business at a higher level. I work with a great sub in the hardwood flooring space who I will also plan to keep busier. My company has been in business since 2016 (that in and of itself has beaten the odds of most small businesses that fail within a year or less) and my gross revenue has increased just about every year in business. The last 2 years have seen gross revenue nearing $500K and I am confident we can get there again with access to some more capital via the grant funding route.
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Self Identified Competition
Color on Cabinets, SpraySource and local painters that try to do cabinets. In the cabinet refacing/refinishing space we can do so much more than our competitors in that we can not only replace doors/drawer fronts (reface) but we can also do modifications like pullout drawers, new drawer boxes, lazy Susan upgrades, etc. and we use proprietary commercial grade paint that is much more durable than what our competitors use (especially painters). We paint the doors/drawer fronts separately from the boxes and rehang the kitchen at the end (most painters paint the doors/drawers in place and do not pull them)
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Contact Applicant
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