Iron and Hide | Application Preview
-
General Information
Business Registration Number: 2024-001489657
Location: south bend, IN, 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
-
Funding Usage
Funding usage will include upgraded equipment for processing orders faster and with higher accuracy this will most likely be the largest use of grant money . Shipping supplies, packaging and advertising is also necessary once the product is ready. This means the funds will all so be used for procuring non-product materials such as boxes, stuffing and standard office supplies. Base materials will be purchased on a "demand" type schedule. With an increase amount of orders due to an increased in processing ability storage and work areas may need to increase as well. Plans for a dedicated work and storage building are being discussed within the respect of grant money procurement.
-
Business Plan
In the next five years, I plan to grow my business by focusing on three key strategies: expanding my product line, enhancing customer engagement, and leveraging technology. First, I will introduce new offerings that meet market demands, ensuring my brand remains relevant and competitive. Second, I will prioritize customer relationships by implementing loyalty programs, and fostering a community around my brand. Lastly, I will invest in digital tools and platforms to streamline operations, improve efficiency, and enhance the overall customer experience. By combining these approaches, I aim to significantly increase my market share and establish my business as a leader in the industry. Simply, our business is offering something that the large retailer have been trying to do, but failing, due to overhead costs and producing cheap products to amass large profits. Our goal is to provide customers with high quality products that are made to last. Bespoke clothing, hand crafted houseware and timeless designs are the frontrunners of our stocked items. The skill and craftmanship used in making our selected items will bring in customers that are willing to pay a little more up-front to have quality over quantity. The idea is to bring back the old way of thinking about the things you buy for every day life, to make you proud of the hard earned money you spent and to create a brand worth remembering.
-
Self Identified Competition
Etsy, Ebay and chain retail stores are our main competitors. The key difference between a bespoke hand-crafted clothing and housewares retailer and larger platforms like eBay, Etsy, or major retailers lies in the uniqueness and personalization of the products offered. A bespoke retailer focuses on creating customized, high-quality items, emphasizing craftsmanship and personal touch. This approach fosters a deeper connection with customers, as each piece reflects their specific needs and style. In contrast, platforms like eBay and Etsy host a wide variety of inconsistent sellers and cheap products, often prioritizing convenience and volume over personalization. While they offer a diverse selection, the emphasis is on mass-market appeal rather than unique, handcrafted quality. Major retailers typically focus on efficiency and lower prices, catering to a broader audience with standardized products. In essence, bespoke retailers cultivate an exclusive, personalized shopping experience, while larger platforms provide accessibility and variety at scale.
-
Contact Applicant
Subscribe to our Administrator Dashboard to gain full access to this application. Learn More
