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General Information
Business Registration Number: 1025 Professional Park Drive
Location: Riverview, FL, 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
The funding will help pay the $25,000 fee to lease the building for 3-5 years , decorate, and provide workspaces suitable and desirable for hairstylist, Estheticians, Nails Tech, Barbers, and all types of subsets of licensed beauty professionals. The funding will help with advertising to attract potential tenants and clients. The aid will help to establish a strong online presence. The ideal tenant will need to be licensed with an established clientele. Each tenant must have an LLC or Sole Proprietors. Tenants will need to provide an established portfolio of their work and past professional accomplishments. Proof of income will need to be established with any vendor such as Square, Zelle, or cash receipts. Each tenant will be required to pay once a week. Smaller rooms will be $225 a week, medium rooms will be $250 a week, and bigger rooms $300 a week. The additional income could contribute an additional $50,000-$60,000 in passive income for a solo business owner minus the monthly lease between $17,00=2,000 a month which would max at around $20,000 a year to maintain Amberstylz Salon's tenancy in the commercial suite building
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Business Plan
We expect business to grow very quickly once the first 2 tenants are settled into their one-year leases. We will be working diligently to pour money into marketing to reach our target beauty professionals for tenancy audience. Grants will be used to create a desirable workspace that would make any beauty professional proud to house their business. When all five to six suites are occupied, we will see additional profit within the first couple of weeks. Worst case scenario business will be slow until we occupy our first two tenants. We are asking for $500,000 in funding, $400,000 to purchase the Commercial suite building, and an additional $100,000 to customize the building to work efficiently and esthetically for the business professionals occupying the workspace. We anticipate 8 to 12 weeks to gather at least 2 tenants, but if it takes longer, we will use the funding to act as a financial cushion till the suites are occupied. Once every suite is occupied, we plan of using the surplus of cash to open another suite using the same business plan. The goal is to have 4-5 suites in the next 3-5 years. Mirroring this business plan to continue to grow Amberstylz Salon major product services include chemical corrective color services and custom haircuts. We aspire to expand our salon to a full-service salon that includes nail care, facial treatments, makeup, massage, and waxing. The salon suite environment is a unique space that supports female self-employment. According to AACS one-third of all people working in cosmetology are self-employed. That's higher than the national average of seven percent self-employment in the United States. Even during the recent recession, when 92,000 businesses failed, the cosmetology industry proved to be a sound business investment. In fact, salons and spas that followed a non-employee base business plan increased by 72 percent from 1999 to 2009, with a 116 percent increase in sales, according to AACS. Salons with hired employees experienced an 11 percent increase, with sales jumping 47 percent at the same time, says AACS. We service everyday women. The average American women will visit a salon 4 times a year at minimum. A woman’s beauty budget is unique to her financials, the texture, health of hair, and personal or professional responsibilities. Our target market is a woman that seeks a physical upgrade to improve the color, texture, luster, and overall health of her hair. The U.S. Department of Labor projects that cosmetologist market will experience 12-16 percent growth from 2022-2023. The reason for the growth is more people are seeking advance treatments such as hair color, straightening, and haircutting. Florida continues to experience a population increase that is roughly equivalent to adding a city the size of Orlando each year. The spike in new residents has been lucrative to business owners. After the pandemic Florida had an influx of people from up North. The salon experienced a 15% increase of sales from 2020-2021 peak pandemic years. from 2021-2022 the sales continue to increase. MacDill Airforce base is twenty minutes from the salon. As a veteran business owner, I naturally reached out to the community for which I came. Amberstylz Salon business originated from utilizing military mom networking groups via Facebook and Instagram. Our proximity to MacDill AFB gives us an opportunity to build a known brand on Base. We have a strong referral driven presence on the Air Force Base. Military moms and active-duty female veterans drive my business with referrals and recommendations. Amberstylz salon would like to adjust to the growing market by expanding into a full-service salon. The expansion would allow the salon to become a full-service salon that offers makeup, hair, nail, and skin services. The funding would be used to open a five to six room salon suite in the busy shopping district of Brandon which currently has a population of 115,090 and growing.
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Self Identified Competition
Our top three competitors are Salon Lofts, Salon 705 and NK salon and Spa. The traditional salon setup is evolving to a more one salon suite concept. A good portion of experienced stylists will eventually leave the multiple salon setup to seek a more independent small business LLC business plan. The major reason for the switch is traditional salon setups are set up as booth rentals which cost $175-$200 weekly, or they are commission-based jobs that require a 60/40 split between the stylist and salon. Seasoned professionals with an established clientele know that they can rent an entire salon suite for themselves between $225-$250, pay supplies, and advertisement while still bringing home a bigger take home check weekly. Seasoned stylists grow out of the salon to seek a mature entrepreneurial workspace with creative freedom. It's the natural progression and the new salon space. Our competitors are mostly traditional salon multiple chair settings. The salon suite setup is a newer salon concept that has less of a crowded competitive market. The quality of professional skill can vary in traditional multi chair salons. In salon suite setup clients are more likely to meet a seasoned more experienced stylist with an established clientele. Traditional multi chair salons can have an array of experience levels. Less season stylist is taking walk-in while apprenticing and seasoned veteran stylist will be the work horses and profit makers on the salon. A salon is only as good as it's talent. As an experience stylist we vet for more established and experienced stylist. A stylist seeking a salon suite business understands that they can't depend on walk-ins. They must have their own LLC, website, portfolio, advertisement, and established clientele. Certain milestones must be met to have a successful salon suite business. The competitive edge is since salon suite setups attract a more experienced and established beauty professional. We are the stylist that have graduated past multi seat salons. We exhibit the skillset and tenacity to work for ourselves. We offer a relaxing one on one service. Salon suits have a completely different salon experience that sets us a part of crowded multi-seat salons
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Contact Applicant
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