Serene Seven Salon LLC | Application Preview
Serene Seven Salon LLC is seeking government grants to acquire and transform an existing barbershop into a modern salon. The purchase price for the barbershop is $300,000, and the proposed renovations include building eight stylist stations, updating plumbing and electrical systems, replacing flooring, installing new lighting, and adding a receptionist area with necessary computer software. Exterior updates and signage will also be made to align with the revitalization efforts in Mandan, ND.
The salon's business plan highlights a consistent increase in income over the past six years. The owner aims to train stylists to work on a commission basis to enhance profitability, providing education that will help them develop clientele and ensure ongoing revenue.
Funding approval is crucial as Mandan is experiencing growth, yet lacks modern salon facilities. There is a noticeable shortage of salons that feature education and support for stylists, creating a demand for a fresh and updated workspace. The owner has 11 years of industry experience, six of which were spent managing their own business, and has already attracted stylists interested in joining the salon, contingent upon securing adequate space.
Competition in the area includes Salon South, the owner’s current workplace. There is a notable demand among stylists for improved salon environments, as existing salons in Mandan tend to be outdated, poorly marketed, and uninviting for new clientele. The owner’s commitment to providing advanced education and luxury services, combined with active involvement in the local business community through the Bismarck Boss Babes networking group, positions Serene Seven Salon to fill this gap in the market effectively.
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General Information
Business Registration Number: 88-3827345
Location: Mandan, ND, United States
Length of Operation: 6-10
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 existing barbershop is on sale for $300,000 and would need updates to be a working salon space. I would like to build 8 stations for stylist to work including the salon station, chairs, standing mats, and styling equipment. We would need to update the plumbing and electrical work. I would update the flooring and install new lighting. There would need to be a receptionist desk along with the computer and software. I would add signage to the front of the building and update the look look outside so that it matches the updates that Mandan, ND has been working towards.
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Business Plan
My business has increased income every year for the last 6 years. I would like to train stylist to work in the salon as commission stylist to increase income. I will provide education to the stylist to improve their skills in the industry so that they build a clientele that keeps the salon generating revenue. Mandan is beginning to grow and there is not a modern salon space on Main in Mandan. There are stylist that are looking for places to work because there is a shortage of modern salons that help with education and building clientele. I have been in the industry for 11 years and owned my own business for 6 of those years. Stylist are constantly looking for salon space that are not outdated and this would be a great opportunity to provide of local stylist. I have worked hard to build my platform in the area as an educator and well-established business owner, and already have stylist who want to work for me, I just need the space to grow. I know what the going rates are for salons, am educating in multiple salons to understand how what hairstylist are needing the in economy right now.
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Self Identified Competition
A top competitor would be Salon South (which is where I currently work). Because I have become established as a hairdresser in this salon, we have an overflow of hairstylist who are looking for a modern salon to work in. There are outdated salons in Mandan who do not advertise their services and are not looking to grow their clientele. I will provide modern education to stylist who want to provide luxury hair services in Mandan. I have co-created a networking group called Bismarck Boss Babes where I help others build their small businesses and this has made other stylist want to work for me.
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Contact Applicant
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