Crown Scrubs | Application Preview
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General Information
Business Registration Number: 20179926
Location: Auburn, AL, 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
The primary focus of Crown Scrubs is to secure the inventory it needs to continue selling to its local network of customers and begin selling online. As part of its strategy, the company will establish an online presence consisting of a dedicated e-commerce store and become a vendor on Amazon. The company will develop and launch its website over the next few months and will need inventory to begin selling products.
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Business Plan
Crown Scrubs LLC expects to begin the projection period with modest sales of $4,000 in month one. As the company initiates its marketing activities, it anticipates sales to grow steadily month-over-month, reaching $6,500 in month 12. Due to its low overhead, the company is expected to be profitable on a monthly basis from its first month. On an annual basis, Crown Scrubs LLC projects that it will earn $45,750 on total revenue of $61,500. As the company grows its brand recognition, expands its marketing activities, and opens its brick-and-mortar location, it expects continual growth year-over-year. In its third year, the company projects that it will see total sales of $102,000 and a net profit of $32,500. The owner does not plan to take any distributions or salary over the projection period. The company is seeking $50,000 in funding. It will use the funds to purchase inventory, launch its website, and hire and train an online sales manager. The company anticipates receiving funds of $10,000 in the first month of the period. It will use the funds to purchase inventory, launch its e-commerce segment, and hire a sales manager. The company anticipates steady sales growth that will result in positive net cash flow on a monthly basis throughout the first year of the projection. On an annual basis, Crown Scrubs LLC expects to see positive net cash flow in every year. It also expects to maintain a positive cash balance over the course of the projection period.
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Self Identified Competition
The following companies are online competitors in the medical scrubs market: AllHeart: This company has been providing medical scrubs and other medical apparel, footwear, and accessories for over 25 years. It started as a catalog business and has expanded to be an online retailer. The company sells over 2,300 scrub-relates SKUs with products for men and women. These include print and solid scrub designs, with most available in up to 12 colors. The company sells its own brand of products and others, including Allstar, Natural, Grey's Anatomy, and Cherokee. Scrub sets range in price from $19.98 to $76.98. Figs: This company was founded in 2013 and incorporates the advances made in athletic apparel over the last decade into its medical scrub products. It uses proprietary fabric technology in its products that provide durability and comfort. The company sells its products on its website. Products include medical scrubs, outerwear, footwear, and accessories. Its scrubs come in a variety of fits and styles. Most also come in ten color options. It also sells maternity scrubs and a professional line that offers technically advanced garments. Scrub sets range in price from $86 to $96 for two-piece sets. Jaanuu: Founded in 2013 by a physician, Jaanuu sells scrubs and other medical apparel directly to consumers via its website. Its products include scrubs, outerwear, underscrubs, and accessories like face masks and scrub caps. Its scrubs include athletic styles, various cuts, and up to five colors. Its Ultralite line is made of performance materials that offer breathability and comfort. Scrub sets range in price from $88 to $98.It offers a 15% discount to medical students. Crown Scrubs LLC will set itself apart from the competition with its affordability and the quality of its scrubs. The company will aim to sell its scrub sets at competitive prices to undercut the competition. Its scrubs will also be made from a unique fabric superior to many on the market. The material is noticeably different to the touch and is made to wick away moisture and keep the wearer cool and dry. The products are also made to be more durable, allowing them to look newer for longer. The company will also offer a wider variety of colors than its competitors.
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