Recco Jewels | Application Preview
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General Information
Business Registration Number: 922081959
Location: MASSAPEQUA, NY, 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: NO
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Funding Usage
We are seeking $10,000 in funding to pay off the credit card debts we incurred while starting our business. Despite having a stable base of customers, our profits have been hampered by the debt we accumulated during the initial phase. We plan to allocate the remaining funds towards marketing to expand our brand and give back to our community in the long run.
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Business Plan
Over the next five years, my goal is to have all of our pieces privately manufactured with our branding stamp. Right now, we are retail—buying from other manufacturers for about 40%, and the rest is designed by us and privately manufactured. The goal is to get there 100%. If we can make this possible - we forecast a 500% increase in revenue. I am a 23 year old business owner with an unbelievable drive. My mantra is if someone tells you no - you asked the wrong person. Recco Jewels is my pride and joy - I started the brand fresh out of college in my parent's basement with $50 to my name and no help. Now we are up to $20,000 in revenue - imagine if I had the funds to help me grow even more significantly.
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Self Identified Competition
My top three competetors are quite above me in the money aspect. Being that they are able to brand their pieces with private manufacturing is huge. If I had the funds to be where they are - I would be blowing them out of the water. I have the skill set to be a great CEO. The only thing holding me back is not having enough funds to back me up.
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