Crestwood Bedding Inc. DBA - Beds, Beds, Beds | Application Preview
Crestwood Bedding Inc., operating as Beds, Beds, Beds, is seeking government grants specifically to cover rent and utilities, emphasizing that these funds will not be used for payroll. The owner describes the last two years as particularly challenging and expresses a need for financial assistance to sustain operations over the next year.
The owner's business plan outlines goals for the next five years, aiming to enhance customer service by increasing on-hand inventory. This would help reduce wait times for customers, who sometimes wait up to three weeks for their purchases. The owner also plans to acquire a larger warehouse for inventory storage and to purchase a delivery truck, which would lead to long-term savings for the business.
Beds, Beds, Beds serves a diverse, working-class population in the south side of Chicago and surrounding suburbs. The owner stresses the importance of the store in the community, providing quality products at lower prices, particularly as the wealth gap widens. The intention of the grant is to enable business improvements without incurring high-interest debt.
In terms of competition, the owner faces challenges from larger companies like Mattress Firm and American Mattress, which have greater buying and advertising resources. Despite this, Beds, Beds, Beds maintains a competitive edge through its lower pricing strategy, making it accessible to the working-class clientele while ensuring that they can afford quality beds.
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General Information
Business Registration Number: 3913-5527
Location: Crestwood, IL, United States
Length of Operation: 11plus
Number of Employees: 1-10 Employees
Annual Gross Income: $250k to $500k
Annual Gross Expense: $250k to $500k
Open to Loans: NO
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Funding Usage
Rent and Utilities. THIS WILL NOT BE USED FOR PAYROLL. The last 2 years have been the worst I have seen in all of the 15 years I have been in business. I need assistance getting through the next year. This amount will help cover rent and utilities only. This is strictly to help "keep the doors open". I am the only employee.
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Business Plan
Over the next five years, I would like to improve my ability to serve my customer base by increasing on-hand inventory to reduce wait time. Supply chain disruptions and workforce shortages since 2020 have changed nearly everything about retail operations. I would like to procure a larger warehouse space and fill it with inventory so that customers are able to receive their beds on the day of purchase. As it has been, some families have waited up to three weeks for their purchases to become available. Additionally, I would like to purchase and maintain my own delivery truck. That initial investment would yield long-term savings for Beds, Beds, Beds. Beds, Beds, Beds serves a diverse, working class population in and around the southside of Chicago and south suburban region. People depend on me to be there. My customers are predominantly blue collar people. As the wealth gap continues to widen, shops like mine are vital to working class communities. Beds, Beds, Beds sells high-quality products without frills or high price tags. What this means for me as the business owner is that expansion costs are difficult to come by without high-interest loans. Receiving funding would allow me to implement business improvements which would allow me to better serve my customers without going deeply into debt.
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Self Identified Competition
Mattress Firm and American Mattress are my largest competitors. Both are large corporations with larger buying power and advertising power than myself. I have been able to compete in the past, but it is getting more difficult over the last couple years. The main difference between myself and my competitors is pricing. Beds, Beds, Beds sells at lower prices than anyone else in our geographic region. I do this intentionally, because I believe it’s better to sell more for less than to sell just a few items occasionally at a higher price point. There are plenty of high-end, exclusive stores to serve high-earning customers. I am there to serve the working class and make sure that people can afford nice, new beds in our southside community.
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Contact Applicant
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