Wine & Liberty LLC | Application Preview
Wine & Liberty LLC is seeking government grants to alleviate the burden of multiple purchase loans that have impacted their operational capacity. The funds will be utilized to stabilize financial resources currently drawn from personal funds for inventory and employee payroll. The owners currently do not draw salaries, and grant assistance would allow them to establish a revenue stream necessary for sustaining quality service and inventory.
The business plans to enhance its offerings through increased advertising, the purchase of upgraded furniture, fixtures, and equipment, which will contribute to a more efficient operation. This includes new lighting, signage, and tableware, aimed at improving customer experience and the efficiency of turning tables. Additionally, they plan to hire more staff to extend operating hours and aim for significant revenue growth, aspiring to transform the business into a million-dollar enterprise.
Since taking over from the previous owner, Wine & Liberty has increased annual sales by $160k in their first year, reaching approximately $535k in revenue. They believe their ties to the local community and positive reputation make them a valuable long-term investment. The owners are confident in sustained growth, expecting that the requested funding will enable further investment in the business, job creation, and a lasting presence in Tarpon Springs.
In terms of competition, they highlight a minimal presence in the market as one of only two wine bars in the area, with the other establishment being significantly smaller. They emphasize their unique position and competitive edge through exceptional customer service and community dedication. With consistent five-star ratings, a prime downtown location, and a commitment to the town, they are focused on continued improvement and expansion.
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General Information
Business Registration Number: L22000126627
Location: Tarpon Springs, FL, United States
Length of Operation: 1-5
Number of Employees: 1-10 Employees
Annual Gross Income: $500k to $1M
Annual Gross Expense: $250k to $500k
Open to Loans: YES
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Funding Usage
The usages of the fund would be to help eliminate the business purchase loan prices which have multiple loan companies that have hindered the business operation by having to use personal funds to pay for inventory and payroll to employees. Currently owners do not take a salary and this would help establish a revenue stream for the ownership to be able to keep the business and operating at a level of quality service and quality inventory. Without the loans being eliminated or reduced, we cannot purchase new equipment and/or more inventory to attract more customers and become more sustainable.
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Business Plan
We would like to expand by increasing more advertisements through funding and begin to purchase upgraded interior furniture along with upgrading the fixtures throughout the entire business. With upgraded lighting, signage, glassware, tableware this will be just the beginning. New furniture and equipment can make the business more streamlined and be able to turn tables faster. I’d also like to be able to hire more staff to make the business open 7 days a week with longer opening hours and grow this into a million dollar business , if not more. Since our purchase from the previous owner, we have increased annual sales by $160k in just the first year. We are committed to making this business a long term investment as we have ties to the community , not only by residing in it but we have built a positive and solid reputation. We have made the correct choices thus far however, we are at a standstill with the lack of funding. At approximately $535k in annual sales revenue our first year, we anticipate continuous growth in revenue the next few years given our way of running said business. With the funding request, we can expand in our business and be able to promote, hire more staff to provide quality jobs and create a permanent staple in the town of Tarpon Springs.
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Self Identified Competition
We do not necessarily have any competition in our town as we are one of two wine bars in the town with the other being very small and nothing like our business. The only competitor in the region may be Stirling Wine bar in Dunedin, FL however, they are not an active competitor , just a similar establishment. We are an exclusive business within Tarpon Springs. We stand out from our competitors due to our dedication and quality that we give to our customers. We truly care about the business and enjoy working for it. The customers are mostly local and have been well received with our new ownership. We have transformed so much within such little time and we do not plan to stop improving our service. As owners, we are on site daily to make sure the smooth operations continue. We have consistent 5 star ratings across all sites and take pride in that. We have a prime location for our business in the heart of Downtown Tarpon Springs with a multi year lease agreement and no plans of selling and moving in. We are invested in this town, not just the business. We have a larger space than all of our competitors with so much room for growth.
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Contact Applicant
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