Stay Golden Jewelry | Application Preview
Stay Golden Jewelry is seeking government funding to acquire a storefront that will enhance its business operations. The requested funds will cover the purchase of a building that will enable the business to serve customers through appointments and walk-ins, as well as host events and classes. This new location will facilitate wholesale distribution to other jewelry companies, provide a space for teaching aspiring jewelry entrepreneurs, and create a retail environment for customers to shop and place custom orders.
The business aims to grow by becoming a jewelry supplier, offering permanent jewelry classes, and engaging the local community with fun events. Stay Golden Jewelry plans to establish itself as a go-to store in Yankton for unique gifts and custom pieces, while also expanding its reach by retailing products in local stores and shipping worldwide.
Past performance highlights the business's potential for growth, having hosted nearly 55 events in 2022, generating over $80,000 in gross profit. With no direct competitors in Yankton or the surrounding areas, Stay Golden Jewelry believes that the funding will not only enhance profitability but also support its continued expansion in a growing market. Their unique offering of custom orders further sets them apart from any existing competition in the region.
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General Information
Business Registration Number: 10379533
Location: Yankton, SD, 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
The funding we are requesting is to cover the costs of the building that we will buy for the storefront. This will allow us to take customers by appointment, walk-ins, and allow to us host and hold events and classes in person with our customers. This building will allow us to be wholesale suppliers to other jewelry companies, allow to us teach people how to run their own jewelry business, allow us to have a business address, allow us to make/create custom orders, and allow for a place that the public can come and shop our retail. The funding will be used simply to get our storefront open, started, and available as a new business.
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Business Plan
We plan to grow our business by becoming a jewelry supplier where people can buy supplies from us. We want to teach permanent jewelry classes and show people how to build/own their own side hustle. We want to provide an area for community members to come participate in nightly events that bring people together for a fun/relaxing evening. We want to be a jewelry store in Yankton where people can shop for gifts for others, custom make something, or simply come get new and unique jewelry. We also want to continue making custom orders and shipping them worldwide. Jewelry is an already prevalent thing in our lives and we are committed to keeping up with the trends to keep our business relevant. We also plan on retailing our jewelry in not only our store, but other local stores as well. The business has already shown remarkable success. In 2022, we hosted almost 55 events. Each event is roughly 3 hours long. In approx 150ish hours we generated $80,000+ gross profit. We feel that the income that we already generated just doing events, was remarkable, and feel that with a storefront, we will be able to maximize our profits and keep expanding.
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Self Identified Competition
We are one of the first permanent jewelry companies in Iowa, South Dakota, and Nebraska area. We do not have any competitors in Yankton or surrounding areas. We are different because we have expanded our business to now making custom orders.
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Contact Applicant
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