Rag and Bone LLC | Application Preview
Rag and Bone LLC is applying for government grants to address significant structural issues in their storefront, including rotting materials and water damage. The funding will be used to repair the building, focusing on the roof, and to purchase essential equipment such as a display case, cash register, and shelving.
The business plans to open within the next six months and aims to fill a gap in Lake City by providing a retail option near the square that attracts visitors from neighboring towns. In the long term, Rag and Bone LLC intends to shift towards a consignment model, offering a variety of unique and affordable merchandise.
The owner believes this venture will enhance Lake City's appeal by adding new retail and dining options, making the square more attractive to both locals and out-of-town visitors. Currently, there is no direct competition in Lake City, especially with a local consignment store closing. The owner is confident in their inventory readiness and the store's potential to succeed once operational.
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General Information
Business Registration Number: 802827
Location: Lake City, IA, 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
The whole store front is rotted. We need to replace it. There is also water damage in the building. We need to repair and check roof. We need a display case, cash register and shelving.
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Business Plan
We hope to be open in the next six months or sooner. We want Lake City to have a retail option near the square that draws people from other towns. In five years I am hoping we can head more into the consignment direction and have a store full of unique, interesting, affordable merchandise. We are going to bring something new and exciting to Lake City, Iowa. Expanding retail and dining options in the square will make it a more desirable destination for people from out of town while providing more shopping opportunities for the people who live here.
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Self Identified Competition
There aren’t any competitors in this town. Maybe surrounding areas but not here. The consignment store in Mooreland would be a top contender but they are closing permanently. I don’t believe that I have any competition. However I have already got a large inventory ready to sell I just need to get the store front open.
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Contact Applicant
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