Mineral and Metal | Application Preview
Mineral and Metal is seeking government grants to enhance its operations by purchasing new lapidary equipment and investing in silver and tools for jewelry making. The funding will enable the business to broaden its product range, attracting a larger clientele. The owner, a self-taught silversmith, aims to attend silversmithing classes to improve craftsmanship and expand the business, fulfilling both creative and commercial goals.
The business has demonstrated consistent sales in both stone cutting and jewelry making, although the client bases partly overlap. An investment in a polishing machine is planned to elevate the quality of stones for display, reflecting a commitment to preserving natural history while making it accessible to the public.
The applicant highlights determination and passion for the craft, sustaining the business as a single mother with no other income. Despite efforts and proven sales, financial limitations hinder further growth. The desire to invest in business expansion is strong, as the applicant has already achieved personal improvements, such as moving to a safer neighborhood for their child.
The applicant sees fellow artists as collaborators rather than competitors. This community spirit contributes to positive growth. The competitive edge lies in sourcing high-quality materials, resulting in superior products. The focus on stunning cabochons and attention to detail separates this business from others, leading to strong customer loyalty and repeat sales. Investing in this venture is posited as a way to unlock its full potential and ensure continued success.
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General Information
Business Registration Number: 1978743-90
Location: Happy Valley, OR, 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
I plan on using the funding to purchase new lapidary equipment, increasing the variations of product I'm able to create and thus, reaching a wider clientele base. In addition, I'd also like to invest in more silver and tools so I can continue to make jewelry with the stones I've cut in a professional, yet time efficient manner. I have seen my ability to make consistent sales in both areas and am eager and excited to expand my operations and increase my revenue.
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Business Plan
As a self taught silversmith with an ever growing client base, I plan to take silversmithing classes to take my jewelry making to the next level. I cut high quality stones using high grade materials and make a great living selling those, but could enhance my business greatly by also setting the stones I cut. Both businesses have separate client bases (although some intertwine), giving me space to balance both for greater sales outcomes. On the lapidary side of things where I currently do most of my sales, I would like to invest in a machine for polishing the rocks I cut for high end display purposes. Doing this fulfills me in so many ways being the creative aspect but also, the fact that I'm able to preserve natural history and make it available to the public. Investors should invest in me because I have the determination and drive required to run a successful business. Not only that, but I am so passionate about what I do. I have sustained this business as a single mother, with no other means of income and have since traded in my old truck for a safe, reliable car. I moved into a house from an apartment, moving into a safer neighborhood to give my son and I the life we deserve and have worked hard for. I already stay up until the wee hours of the morning, giving all I have to my business so it can continue to flourish, but I can only pour so much from an almost empty cup. I have the resources, the clients and the proven sales history that only builds with time, but I feel stuck without the funds to really do the things I need to do with my business. This is the time and energy I put into my business currently without the necessary funds to truly succeed. I know that I could go so much further if I was able to invest more funds into expanding my current operations.
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Self Identified Competition
I don't find competitors in my trade, but the opposite. I embrace the other artists with small businesses similar to mine and not only does it not detract from my success, but gives it the positive growth I only hoped to achieve with this journey. That being said, I go above and beyond to source the highest quality rock specimens to cut and polish, resulting in much higher sales than other lapidary artists doing the same thing. I focus on only cutting beautiful, scenic cabochons that jewelers (my main client base) can't resist, therefore making it hard to compare my work to others. In addition, I focus greatly on attention to detail and as a silversmith myself, know exactly what it takes to cut a perfect stone for setting. This attention to detail is noticed in customers and is what keeps them coming back, shopping with me every sale. Other artists in my field have a different approach that doesn't quite yield the same results.
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Contact Applicant
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