3KeyMotives | Application Preview
3KeyMotives is seeking government grants to support their business expansion as a locksmith. The funding will primarily be used to purchase a work van, essential tools, and cover advertising and fuel costs while establishing and growing the business.
The business plan aims to secure a storefront within the next five years and operate four to five vans, creating seven new jobs during that period. The goal is to expand the workforce every five years while servicing the Tri-State area up to 50 miles away, eventually deploying employees within that radius.
The owner emphasizes personal motivation, being a husband and father of five, and desires to create a comfortable life for his family. He is dedicated, reliable, and committed to offering affordable locksmith services. He believes that with a chance to prove himself, he can succeed in this venture, indicating a willingness to accept a loan of either $20,000 or $10,000 to get started.
Currently, the competition in the area is limited, with only a couple of locksmiths nearing retirement, which presents an opportunity for growth. The applicant already receives multiple calls daily, even with minimal advertising, but has had to turn down some jobs due to lack of equipment. With the right tools and marketing, he anticipates significantly increasing his customer calls and service capacity, aiming to fill the gap left by retiring competitors.
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General Information
Business Registration Number: NA
Location: Corinth, MS, 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
Again I need a work van, a few more tools that are a necessity for Locksmiths. Plus a little for advertising and fuel cost while establishing the expansion of my business.
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Business Plan
I would like to had a store front building for my business in 5 years with 4 or 5 vans running which would create a target of 7 more jobs within the next 5 years. And would like to see that outcome every 5 years there after. I already cover the Tri-State area up 50 miles in every direction. I'd like to expand to the point of having Employees every 50 miles apart and establish them an area in which the reside. I'm a Husband and Father of 5 amazing Children. I'm just trying to give my kids a comfortable life that I didn't have growing up. I'm taking a risk to offer my expertise and services to the public with no plan of failure in sight. I'm hardworking and very dependable and trustworthy blue collar small town guy that wants to help people and it not cost them ridiculous amounts of money. I just need someone to give me a chance, one chance to prove my worth and my skills. I have no other option, this is all in for me and I'm going for it. I just need someone to believe in me and they'll be glad they did. Give me the chance, open the door and let me do the rest. I would like to get a $20,000 loan but if I had to take less, I could make something happen with $10,000.
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Self Identified Competition
There are really no Locksmiths in my area. There is one or two but they won't be in the business much longer as they are both getting close to retirement. And those other 2 combined are not able to do as many services as I am doing by myself. If I get a work van and the fool tools I don't have already. I'll be the only Locksmith within 60 to 75 miles that can offer these services. I've been getting 3 to 5 calls per day and I only advertise the minimum on Yelp. I can see those calls going up to 10 to 20 a day with a little more advertising. I've had to turn people down for jobs because I don't have all the equipment and tools I need. I don't like telling people no I can't do it. As mentioned above they are both about to retire in the next 1 to 3 years and this will be open territory for me to service. They already can not offer what I do and I don't havenall the equipment and tools I need. When I get those, I won't ever have to tell someone no I can't take the job again.
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Contact Applicant
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