Urban Indigo Hair | Application Preview
Urban Indigo Hair is seeking government grants to expand into a chair rental salon after five successful years operating within a Sola Salons franchise. The owner, who has 15 years of industry experience, aims to create a high-end rental salon that offers women in the industry the opportunity to work independently while being part of a supportive community. With the closure of several salons in the area, there is a clear market demand for this type of service.
The funding will be used for expenses related to the build-out of a new salon space, with estimated costs exceeding 100,000. The owner has secured quotes for the build-out and identified a suitable location.
The business plan includes expanding to multiple locations once the initial salon becomes profitable. The owner has demonstrated consistent profitability with a gross annual income over 75,000 during the past five years, positioning Urban Indigo Hair as a low-risk investment.
The proposed salon will fill a gap in the local market, as there are currently no high-end chair rental salons in the area. Its competitive advantage lies in fostering a positive, educational environment for independent hairstylists, focusing on professional growth and a supportive atmosphere. This initiative aims to address the urgent need for respectful and empowering spaces for hairstylists in Madison, WI.
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General Information
Business Registration Number: 47-4959862
Location: SUN PRAIRIE, WI, United States
Length of Operation: 5
Number of Employees:
Annual Gross Income:
Annual Gross Expense:
Open to Loans: YES
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Funding Usage
I am looking to expand my business into a chair rental salon. I currently rent a suite inside of a Sola Salons franchise. I have been successfully in business for 5 years and have been in the industry for 15 years. I want to provide opportunities for women in our industry who want to be independent stylists but who also want to work with a collective of other women. Our market is in desperate need of a high end rental salon in our area, and with the shut down of multiple salons in our area, there is great opportunity for our business to thrive. I would be using the funds for build out furnishing expenses. I have found a space and have gotten multiple build out quotes, and will need help funding this business opportunity as most estimates were well over 100,000.
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Business Plan
I will grow my business by expanding into multiple locations. I believe that this can be a lucrative opportunity in multiple cities. After my salon is filled and profitable, I will be able to save money to expand. I am a low-risk investment because i have been in business profiting every year for 5 years. My gross annual income is over 75k and has stayed consistent since starting. I also am very driven to make this dream a reality and to not only sustain it and make profit off of it, but to expand it. Women in our industry need a space to grow and thrive in. I want to be at the forefront of creating that space.
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Self Identified Competition
In my area, I don't have any direct competition. There are no high end chair rental salons that exist. My business will not only provide a positive, high end, supportive work environment, but it will also provide a space for education and growth. We are in need of a space where independent hairstylists can get cutting edge education that isn't brand specific. We are also in need of a space where hairstylists aren't abused, taken advantage of, or mistreated. This is long overdue for our industry, and more specifically, the Madison, WI market.
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Contact Applicant
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