The Betts Group | Application Preview
The Betts Group is applying for government grants to support various aspects of their business operations. The requested funds will be allocated towards payroll, bidding software, mentorship, apprenticeship programs, and recovering from losses incurred during the COVID-19 pandemic.
The business plan focuses on growth through training and expanding services to electrical companies across the state. The Betts Group aims to enhance their operations by updating software and technology for a more efficient workflow.
The justification for funding approval highlights the company's established partnerships with distributors and the CEO's extensive 20+ years of experience in the electrical industry. This expertise, combined with the company's Minority Business Enterprise (M.B.E.) certification, positions The Betts Group favorably for securing State and Federal contracts. Their competitive advantage includes nationwide shipping options, which can help distinguish them in a crowded market.
When considering competition, The Betts Group notes the presence of established players like Allied Wholesalers Electrical Company, which has been operational since 1985, and their long-standing partnership with Kirby Risk Electrical Supply, a leading distributor in Lafayette, Indiana. Additionally, services and products from Graybar support various sectors, which further underscores the competitive landscape.
To maintain a competitive edge, The Betts Group plans to forge partnerships with profitable corporations while providing competitive pricing and shipping solutions, anticipating that this strategy will bolster their market position amidst rising demand.
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General Information
Business Registration Number: 46-5417673
Location: Lafayette, IN, United States
Length of Operation: 6
Number of Employees:
Annual Gross Income:
Annual Gross Expense:
Open to Loans: YES
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Funding Usage
The funds will be used for Payroll, Pay for Bidding Software, Mentorship, Apprenticeship, Recover funds from COVID19 losses.
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Business Plan
We plan to grow through training, expansion to electrical companies state-wide. Updating Software and Technology to provide a more streamlined process. Partnerships have been established with distributors. The CEO of The Betts Group has 20+ years of experience in the electrical industry and is familiar with electrical parts and codes. Along with experience, The Betts Group would be able to set itself apart from this saturated field by offering shipping options across the country. Also, this company is Minority Business Enterprise (M.B.E.) certified. This certification can help this company obtain State and Federal contracts.
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Self Identified Competition
Allied Wholesalers Electrical Company has been established since 1985. Their expansion has led them to a 54,000 sq ft warehouse. Kirby Risk Electrical Supply is The Betts Group Supplier. They are one of the top distributors in Lafayette, In. We have been partnered with Kirby since our business has started. Graybar products and services support new construction, infrastructure updates, building renovation, facility maintenance, repair and operations, and original equipment manufacturing. The best way to stay ahead of sellers is to partner with high profiting corporations. Corporate profits are estimated to increase due to high demand. If the Betts Group is united with top companies and offering competitive prices and transporting options, it could mark us above competitors.
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Contact Applicant
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