Mika Ella's Boutique | Application Preview
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General Information
Business Registration Number: 2233945-100-400
Location: WEST MONROE, LA, United States
Length of Operation: 7 months
Number of Employees:
Annual Gross Income:
Annual Gross Expense:
Open to Loans: NO
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Funding Usage
$600,000 of this will go towards purchasing a building to open a brick and mortar location for our boutique. The other $75,000 would be used to order more inventory to fill the bigger space, purchase furnishings for the new story, and purchase new equipment like computers and security system. We would also be adding a coffee shop section to our boutique. We also need furnishings and equipment for the section of the boutique as well.
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Business Plan
We have already grown our business greatly in the short 7 months that we have been open. We started this business with $2,000, and it has grown to purchase more than $9,000 worth of inventory to date already. This is a dramatic increase from our $1,000 worth of inventory we started out with. We have less than 2k followers on our Instagram and Facebook combined, but that speaks volumes about our customer base and customer service. We have a dedicated and highly involved following who is in love with our clothes, customer service, and charitable cause. Over the next 5 years we plan to increase our advertising. We have done no adverting except our own social media thus far. We will be doing local newspapers and magazine adds, sponsoring local teams and schools, doing local radio adds, giving scholarships out to high school seniors who have been effected by adoption, and opening a brick and mortar location with a coffee shop. Though we are online, my family is well known in our small town, and a majority of our existing customers are local. Our small town loves to shop at local boutiques and loves to have places to interact with the people of the community. We will be adding a coffee shop to this brick and mortar boutique to create a place of gathering for our community along with fulfilling there desire to shop. Boutiques are popular in our town, and we need something that will make us stand out. We also want to give back to our community, and the coffee shop will be a great outlet for that. We will participate in holding local events. We will scale this business model by being highly involved and supportive in our community through schools, teams, and local groups. We will be branding our company as one that offers our community unmatched customer service, one that gives back, and has the promise of always having their back by being a location of comfort and joy. We are a business with a purpose. We give back to our customers by donating 10% of the boutiques profits to a customer who is walking through the adoption process to help them raise funds to bring their child home. We are also a business that understands the importance of outstanding customer service. We are a business here to serve our community through relationships and providing an atmosphere that leaves our customers feeling taking care of and supported on a personal level. While I am in this business to provide for my family and make money, I am also in this business because I truly care for my customers and creating a place that connects the people of our community. Something to note about our community is that they thrive off of businesses that cultivate environments for them to get involved in things. Our business plan is one that stands our in our town, but one that perfectly fits the desires or the people in it. Investors should invest in me as an owner because I have grit. I started this business with $2,000, a 6 month old, in a 800 sqft house, and I have grown it greatly off of word of mouth alone. I am now a 21 year old women who graduated high school with enough credits to be a junior in college my first year at the University of Louisiana at Monroe. I have a passion for learning and a passion for evolving and always being a step ahead of everyone. When investing in a business you are inventing in a business model, but what will make a business truly succeed is the owner. An owner needs grit, patience, persistence, a desire to learn and grow, a giving and carring heart, a personality that does not quit, observant, and most of all, someone who is concerned about their customers and their experiences each time they walk through the door. I can and I will grow this business to be the center of the town and highly profitable, all while giving back to the community.
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Self Identified Competition
Our top three competitors are a boutique across town that has been in business 14 years. I actually hard the privilege of working at this boutique (Cara's Boutique) as my first job. I worked their for 3 years and learned the ins and outs about what makes a business stand out in our town. Customer service is what sets this boutique apart from the rest along with being a Christ based business. I learned my customer service skills from the best and have applied them in the business I now own. Cara's Boutique has a loyal customer base built on years of building relationships with the community and giving back to it. Our second biggest competitor is "The Corner Coffee Shop" across town. They stand out because they provide a place for the people of our community to hang out while being a Christ centered business. We are located between two colleges, and these college kids flock to this coffee shop to do school work, study groups, and meet up with friends. It is also a popular spot for local church groups to have their devotionals. They have done an amazing job at creating a place the community wants to go and gather at. Our other biggest competitor is in the town over and it is "Rail Way Coffee." They stand our for the same reasons as the coffee shop above. They are located closest to the college furthest from us. They are a Christ based business as well. I am different from my competitors because while I will offer the absolute best in customer service, and being able to complete a customer's overall experience by providing shopping, food, and community all in one location. A defining aspect about our community is that they love to get together and they love to shop. What better way than to combine the two. Providing a great atmosphere for customers to gather, get coffee and lunch, along with get out and do something together by shopping the boutique connected to the coffee shop. We will stand out from our competitors by also providing more community outreach events. We will host a weekly after hours bible study with free coffee for our customers as well. We will advertise at all our local churches about this weekly event. This will be our way of giving back to our customers week after week while continuing to get the word out about our shop. It will be a defining aspect about our shop and will get he whole town talking about us.
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Contact Applicant
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