Salon Caramella | Application Preview
Salon Caramella is seeking government grants to fund the startup of a new salon. The funding will be used for essential items to open the salon, as well as for the necessary deposit and licenses.
The business plan includes bringing in four self-employed renters who will pay rent for their booths. The owner plans to work in one of the booths to generate additional income. A well-maintained salon can command higher booth rental rates, contributing to overall profitability.
The owner has a successful history of self-employment, having operated a mobile salon for four years. They are confident in their ability to thrive with a physical location that has an affordable monthly lease of $600.
In terms of competition, nearby salons include Iron Brush, Black Oak, and Cove, with the owner having prior experience at Iron Brush and Black Oak. However, Salon Caramella's competitive edge lies in offering lower booth rent due to its affordable location and providing additional educational opportunities for stylists, which other local salons do not. The focus is on fostering creative freedom for renters, operating as a true booth rent salon.
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General Information
Business Registration Number: 632285000
Location: Cabot, AR, 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
I need to buy the items to get the salon open as well as money to get into the salon for deposit and money to get my licenses.
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Business Plan
I would like to get all the 4 renters into the salon and they would be self employed and would pay rent for their booths, if the salon is a nice salon then i can charge more for rent. I also will be working one of the booths and bringing in income as well. I have been self employed for 6-7 years and been successful, i opened my own mobile salon in 2020 and its been about four years doing that and i have also been successful, i am wanting to take it a step further and have a full salon now. I know i can do it and the building I'm wanting to lease is only $600 a month so thats a wonderful price and i know that i can be successful.
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Self Identified Competition
Iron brush salon, they have a nice new salon, i used to work there before venturing out on my own. Black oak salon, they used to be called A Savvy You, they are great and i used to be employed there as well. Then there is the cove salon, i have not worked there but heard good things. The difference between their salons and mine is that building is fairly cheap and still very nice so i know i can offer cheaper booth rent to other stylist but still get ahead. Id also like to offer the stylist further education classes and other salons don’t do this, i would also like to run it like a true booth rent salon. I would like my renters to have true creative freedom.
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Contact Applicant
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