Summary

Vann Cut is a barber shop located at 2546 North Watkins in Memphis that has experienced at least a 25% drop in revenue as a result of COVID-19. The Applicant and 1 FT Independent Contractor are out of work. Over $1,500 in monthly operating expenses accruing while shutdown. Negotiating terms with landlord and vendors.
Stabilization and Recovery Plan:
• Will hire additional barber to meet expected demand upon reopening
• Digital and print media campaign being developed
• Will offer discounts to existing and new customers
NEED Grant funds will be used to pay rent, insurance, utilities and other fixed operating costs and print media.

Financing Amount:

$5,000

Projected Total Jobs:

Not applicable

Total Investment:

Not applicable

Approved

5/8/2020

Vann Cut

2546 N. Watkins, Memphis, TN 38127