Love Another's | Application Preview
-
General Information
Business Registration Number: 92-3133341
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: YES
-
Funding Usage
LoveAnothers Resale Shop started as an online resale company but the owner has the vision of transforming the basement of her home in Bronzeville, a historically Black neighborhood in Chicago, into a venue that promotes physical space and opportunity for other entrepreneurs in the community to showcase their businesses. The owner of LoveAnothers has lived on the South Side of Chicago in the historical Bronzeville community since the early nineties; where Black businesses once thrived with a 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, 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 training, and workshops dedicated to spreading the knowledge needed to become a successful entrepreneur in this competitive market, 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.
-
Business Plan
The recreation of the space would take 6 months to 8 months to rebuild, remodel, and be safe and up to code by Illinois property standards. The next 3 to 4 years would be dedicated to reaching out, networking, and pouring into the community that is notoriously known for its rich history of brown and black entrepreneurs who worked and built their livelihoods in Bronzeville. We would also build relationships with the neighborhood schools and create programs focused on entrepreneurship, character building, writing proposals, creating business plans, and other valuable workshops based around skills that the youth need now to become success stories and generational poverty chain breakers later in life. 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 feels 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 its 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 when the neighborhood was forgotten for many years and for the future residents to come.
-
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, the venues in the Bronzeville community do not give back to the community where they hosted the event. I want one person's celebration of their brand and their passion project to be something that is shared. That is how we spread knowledge and wealth, by sharing it with others as opposed to keeping it to ourselves.
-
Contact Applicant
Subscribe to our Administrator Dashboard to gain full access to this application. Learn More
