AK Enchanted Events | Application Preview
AK Enchanted Events is seeking government grants to enhance their business operations and expand their market presence. The funding will primarily be used to acquire essential decor items and stage furniture, cover office and warehouse expenses, and improve the client-facing appearance of their office. Additionally, part of the grant will be allocated for marketing efforts aimed at increasing visibility and attracting more clients.
The business plan outlines a five-year strategy that includes bolstering their social media presence, distributing business cards at events, soliciting client reviews, and collaborating with other small businesses to reach a broader audience. They will also hold promotional events and continually develop new decor pieces to stay aligned with current trends.
In justifying the request for funding, AK Enchanted Events emphasizes their unique potential in the market by offering customized decor options tailored to client needs—an approach that differentiates them from competitors. They have a strong track record of client satisfaction, consistently receiving five-star ratings for their events. To better serve clients, they plan to renovate their rented office and warehouse, which will serve as a space for clients to view decor items firsthand.
The competitive landscape includes similar businesses, such as RS Event Decor, Clifton Creative Events, and Divine Decor. While these competitors have established themselves, AK Enchanted Events stands out by offering personalized service and the ability to create bespoke decor pieces based on clients' specific requests, enhancing client comfort and satisfaction throughout the event planning process. This hands-on, client-focused approach, including additional complimentary decor on event day, positions them favorably to attract a larger clientele.
-
General Information
Business Registration Number: 852255929
Location: Richmond, TX, United States
Length of Operation: 6 months
Number of Employees:
Annual Gross Income:
Annual Gross Expense:
Open to Loans: NO
-
Funding Usage
We will use the finding to purchase essential decor pieces used for events as well as furniture for stage use. We also need to cover our warehouse/office expense and have not yet broken even since our expenses outweigh our earnings. We will use a portion of the grant to make the office look presentable for our clients to come in and view our decor items. We will also use a portion of the grant for marketing purposes to expand our business.
-
Business Plan
Within the next 5 years we will continue to market our decor items on social media and will expand our marketing by distributing business cards at our events, encouraging our clients to review us on google, and will collaborate with other small business to increase exposure to a wider audience. Once we finish these collab events, we post the outcome on social media to gain attraction with a larger audience since each business has it's own unique platform. We will also hold promotional periods to gain attraction and will continue to create new pieces to stay on trend with the latest decor designs. Our business has huge potential to become larger with appropriate funding as we continue to create decor pieces that are not available in the wider market on a custom-order basis. We work one:one with our clients to ensure that they are 100% satisfied with our decor items/service and have received 5 starts for each event that we've decorated for. At this time we need more funding to create one of a kind decor pieces to attract a larger clientele. Our company has also rented an office/warehouse that we will use to store all our items and plan on opening it to the wider public to display our decor items. This will allow our clients to be more comfortable since they are able to see the product first hand. The office needs to be renovated before we open house and therefore we need funding for this as well.
-
Self Identified Competition
1. RS Event Decor - They are a small decor business that are new in the market and have a similar client base as us. They came into business at a similar time as well. They offer appealing designs and have the capability of becoming a larger business. 2. Clifton Creative Events - They are a new decor business as well with a larger clientele and have posted several appealing designs. They are growing and a faster rate and have huge potential to become a top decor business in Houston. 3. Divine Decor - They are a larger decor business that have been on the market for several years now. They have a larger clientele and have done several events over the years. They have an experienced staff and an office location as well. Our business is different from competitors because we offer custom-order designs as per the clients request. If a client requests a decor piece that is not currently in stock, then we handcraft it to ensure their vision comes to life. Most companies do not offer a custom-order service and only provide decor items that are in stock. We work one:one with our clients and send them pictures of their decor pieces while they're a work in progress so that they are comfortable with their decision before their event. This allows the client to see all hand crafted piece way before their event and gives them room for changes if needed. For other companies, clients don't see the final product until the day of their event. The day of the event, we also add additional decor at no cost to the client if we feel that areas of the event location look empty and need more decor. This makes the event look even better and attracts a wider audience when the guests see the final product. These guests then become our next clients. Most companies only offer what the client has paid for.
-
Contact Applicant
Subscribe to our Administrator Dashboard to gain full access to this application. Learn More
