Lara Donnelly LLC | Application Preview
Lara Donnelly LLC is seeking government grants to establish a sustainable wellness center targeting endurance athletes while being inclusive of all demographics. The rental space costs $1,200 per month, and the business aims to secure funding for at least two months. The project requires substantial investments including a localized cryotherapy machine ($12,000), three pairs of Normatec compression boots ($2,400), three chaise lounge chairs for the Normatec ($6,000), and space build-out ($20,000).
The business plan includes expanding to hire at least four employees within the initial location and potentially opening 1-2 additional facilities. The overarching goal is to contribute positively to the community by supporting holistic healing and addressing mental health challenges, drawing on Lara's experience as a former school counselor. The center will provide various tools for wellness, including cryotherapy for fast injury recovery and Normatec boots for enhanced circulation.
While there are two other local businesses offering similar recovery methods, neither provides classes. Lara’s competitive edge lies in integrating wellness classes such as yoga, breathwork, guided meditations, and cycling trainer workouts, creating a unique offering in the market.
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General Information
Business Registration Number: 1141540
Location: Louisville, KY, 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
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Funding Usage
I am planning to open a space for sustainable wellness (for people of all demographics, but my target audience will be endurance athletes). The space that I'm looking to rent is $1200/month. I would be looking to cover at least two months to get started. I also need the following: 1 localized cryotherapy machine- $12,000 3 pairs of Normatec compression boots- $2400 3 chaise lounges chairs for the Normatec- $6000 Build out for the space itself- $20,000
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Business Plan
After determining the needs of my clients a little better, I plan to expand to hiring at least 4 employees at this location and am looking to open 1-2 additional locations. More than anything, I hope to impact our larger community by providing ways for people to heal, recover, and grow (mind, body, and spirit). As a former school counselor, I understand the mental health crisis our city and nation are facing. I hope to help combat that with opportunities for people to find a wellness community that supports them holistically. I will be offering people of all ages and abilities several tools for sustainable wellness. With the localized cryotherapy machine, I'll be able to help people heal from injuries much more quickly. Four minutes of localized cryotherapy is equivalent to four hours of icing. In addition, the Normatec compression boots will promote blood circulation and recovery. I also plan to have classes in the space such as yoga, breathwork, and guided meditations.
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Self Identified Competition
There really isn't another business that offers exactly what I will offer. There are two business that offer cryotherapy and recovery methods, but not classes. They are the Cryo Lounge and Club Recover. I plan to offer classes such as yoga, breath work, guided meditations, and even some cycling trainer workouts for cyclists wanting to build power during the winter.
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