Love Another's | Application Preview
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General Information
Business Registration Number: Love Another's
Location: Chicago, 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: NO
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Funding Usage
LoveAnothers started as an online resale company but the owner would like to expand this business venture beyond herself and would like to transform it into a venue space that opens up physical space and opportunity for other entrepreneurs in the community to showcase their businesses as well. The owner of LoveAnothers resides on the South Side of Chicago in the historical Bronzeville community where Black businesses once thrived with their surplus of successful entrepreneurs coming in by the droves. The owner would like to expand her business so that all business owners, regardless of background, race, or status, who are just starting to build their brand, can have a state-of-the-art, beautiful, warm, and welcoming space to showcase their talents and get their brand out to the public. This venue would also be used for branding parties/events, pop-up stores, seasonal events, business trainings, etc. This space would be a hub for business owners to come together to support, share wisdom, and connect through their experiences as people in the world of entrepreneurship.
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Business Plan
I would like to redevelop a space in my own home, in which I own, to expand my business from being an online resale presence to a physical one where others who have businesses can share their brand with their community and utilize the old areas of "word-of-mouth". The demolition and redevelopment of the space would take 6 months to a year to rebuild, remodel, and be safe and up to code by Illinois standards. The next 3 to 4 years would be dedicated to reaching out and pouring into the community that is notoriously known for its rich history of brown and black entrepreneurs who worked and created lives in Bronzeville ( which is where Bronzeville acquired its name; that brown and black residents had the skin the color of bronze). We would pour into the schools in the community as well and create programs that the youth could also be a part of to create opportunities for wealth and wisdom for them as well. When we don't pour into our communities we lose them piece by piece, person by person until it becomes obsolete. However, just like when a person pours into another human being who often felt unseen, that change within is evident and makes a world of a difference. The same is true for our neighborhoods in Chicago. Once we take notice of a neighborhood that needs to be tended to and we pour into it with vision, opportunity, and possibility we are giving that area back it's life. The owner would like to see that life be given back to the neighborhood where she was born and raised. Not for just the people who can afford to live there now but for those who came before us when the neighborhood was forgotten for many years and for the future residents to come.
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Self Identified Competition
Parkway Ballroom, Bronze47, and Luxe B Studio are all venues that people utilize to host events such as weddings, baby showers, and birthday celebrations; all of which are lovely but there are not many venues that have the same purpose that my vision would fulfill. While it is beautiful to celebrate a union or a birthday celebration, it does not give back to the community they hosted the event. I want one person's celebration of their brand and their passion project to be something that is shared with the wider community. That is how we spread knowledge and wealth, by sharing it with others as opposed to keeping it to ourselves.
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