Jakey G's | Application Preview
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General Information
Business Registration Number: 13-1309-402-027
Location: Mackinaw, IL, 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
This loan will be used to expand and combine two already established businesses. The beauty salon will be bought by myself and employ two of the current stylists with the possibility of a third. I will remain the sole barber but become the owner of the establishment. The current owner is looking to retire but would like to continue working part time. She no longer wants the responsibilities of being a business owner which is why I could purchase the current establishment and make it more multi-functional.
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Business Plan
I plan on growing my business by combining my existing barbershop with an existing beauty salon. This will bring in more revenue as well as different types of clients. If the merger is a success and continues to grow, then the shop can grow as well and move to a larger, more spacious venue. The combination of the two existing establishments will create more jobs in the local community as well as more resources. I am the only local barber currently in Mackinaw. I would love to grow my business and be able to offer jobs to others in this community. With the combined knowledge and skill sets of myself and coworkers this business can do nothing but thrive.
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Self Identified Competition
I am the only local barbershop in the area. My top three competitors would be the two local beauty salons, one of which I would plan on merging with. The closest competitors I would have are barbershops in a town that is fifteen minutes away. There is one home barbershop and another barbershop who is owned by an elderly woman whom cannot work full time. There is much room to grow in this industry currently. With hair salons and barbershops in the area closing due to health or age related issues, now is the time to step up and bring the community what they need and deserve. Our company will serve the community as a whole; men, women, and children. There is nothing stopping this business from succeeding.
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Contact Applicant
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