Refresh California, Inc. | Application Preview
Refresh California, Inc. is seeking government grants to support its funding needs for inventory. The company operates by leasing water filtration units, generating recurring monthly revenue with a focus on long-term contracts. The break-even point occurs after three years of leasing, after which the earnings become profit, as most customers maintain equipment well beyond the five-year agreements.
With over 13 years of industry experience, the business anticipates becoming highly profitable after the initial challenging three years, primarily due to upfront costs associated with inventory and installation. Refresh California exclusively serves businesses, ensuring all clients sign contracts.
The company faces competition from larger firms like Quench USA and Neptune Water Solutions. However, its competitive advantage lies in its local presence and superior customer service. Refresh California prioritizes immediate customer support, contrasting with its competitors who rely on automated systems, leading to customer complaints regarding accessibility and service challenges, especially for equipment maintenance.
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General Information
Business Registration Number: 881212428
Location: American Canyon, CA, 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
inventory
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Business Plan
We lease water filtration units. Every new lease means more recurring monthly revenue. After the customer has the equipment for 3 years that is our break even point. They have 5 year contracts and most keep the equipment for over 10 years, so after the 3 years, it is all profit. I have worked in this field for 13 years. After 5 years in business, we will be very profitable. The first 3 years are financially challenging sine we need capital for inventory and installation costs. We only deal with businesses, no residential, and all of our customers have a contract with us.
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Self Identified Competition
Quench USA Neptune Water Solutions We are a small, local company. We have great customer service and address the needs of the customers immediately. Other competitors are huge, they don’t have personal relationships with customers and the customers complain that they can’t get a hold of anyone through the automated phone systems and they are not getting service when their equipment needs filter changes.
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Contact Applicant
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