Lorados | Application Preview
Lorados is seeking government grants to help expand its business by acquiring the neighboring building. The funding will be allocated toward renovations, new equipment, and furniture. The business plans to grow by extending operating hours to include breakfast and brunch offerings, as well as catering services. The new space would also allow for private events, increasing overall seating capacity and enabling the hiring of at least ten additional employees.
The owner brings 22 years of experience in the industry, recently purchasing the restaurant where he previously worked. Since taking over, he has successfully doubled sales, despite current space and kitchen constraints. Situated in the vibrant heart of Mason City, near a music pavilion, he is optimistic that a larger facility will allow him to double or even triple sales again, leveraging his proven track record of growth.
While there are nearby establishments like The Quarry, Fat Hill Brewery, and The Sports Page, the owner emphasizes a collaborative spirit rather than viewing them as competitors. Lorados stands out due to its commitment to consistency, adaptability, and strong community relationships, which the owner believes will contribute to its ongoing success.
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General Information
Business Registration Number: 42-1453098
Location: Mason City, IA, United States
Length of Operation: 1-5
Number of Employees: 1-10 Employees
Annual Gross Income: Less than $100k
Annual Gross Expense: $500k to $1M
Open to Loans: YES
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Funding Usage
Expanding my current business into the building next door to me. Would need help with some construction, a new equipment and furniture.
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Business Plan
I plan to grow my business by adding more hours to the business by offering breakfast and brunch. Would love to do catering and having the space to offer for private parties, wedding receptions and just more seating in general. I would like to hire another 10 or more employees. Ive worked in this industry for the past 22 years. I recently purchased my restaurant that I worked for in those 22 years and have doubled sales with the space and kitchen limitations that we have. We're in the heart of Mason city with a music pavillion on our doorstep. With a bigger space and kitchen I'm confident I can again double my sales if not triple. I've proven I can do it in 2 years. I'm a hardworker and have the drive to become even more successful.
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Self Identified Competition
I wouldn't call anyone a competitor as we all have a symbiotic relationship to one another, so I would call them friends or neighbors. As for my first neighbor I would start with The Quarry. The Quarry is a higher end restaurant serving fine dining dishes with a very nice atmosphere. Secondly I would choose Fat Hill Brewery, they're obviously a brewery that has events that helps bring a crowd in. Last I would say The Sports Page. A sports bar thats housed in our dying mall. What separates Lorados from these other businesses is our consistency, our drive to remain relative by embracing change and our general care and relationship with our community and its members.
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Contact Applicant
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