Lilac Inn Waddington | Application Preview
Lilac Inn Waddington is applying for government grants to support the renovation of a historic stone building, built around 1805, which has remained uninhabited for the past 60 years. They have invested $275,000 of their own funds and seek additional funding to complete the renovations needed for commercial use, meet code guidelines, cover licensing and fees, acquire equipment, and for marketing initiatives.
The inn will cater to special events, private dinners, and lodging in a village rapidly growing as a tourism destination. Located on the St. Lawrence River, south of Ottawa, Waddington has seen significant development in tourism and cultural activities but lacks adequate businesses to support its economic growth and preserve its history.
The business plan emphasizes organic growth, leveraging the proximity to four universities, which increases demand for dining and lodging options. With the real estate market in the area growing by 300% in recent years, there is a clear need for supporting businesses.
The applicant highlights her experience as a businesswoman with a banking background and strong community ties, indicating a commitment not only to building a successful business but also to preserving the historic site and contributing to the community's growth. The area has minimal competition, consisting mainly of a few bed and breakfasts, making the inn uniquely positioned to offer services for small private events and gourmet dining.
Their competitive edge includes providing a dedicated venue for special occasions, utilizing a renovated dining space, and collaborating with chefs from local culinary schools to create exclusive dining experiences. The plan also includes producing and selling homemade jams and jellies from a commercial kitchen on-site.
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General Information
Business Registration Number: Lilac Inn Waddington
Location: Canton, NY, 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
We have purchased and are renovating a historic stone building in the village of Waddington. The building was built around 1805 and has been uninhabited for 60 years. We have used $275,00 of our own funds to date. The funding will be used to complete renovations needed for commercial use and code guidelines, pay for licensing and fees, equipment, and marketing. The building will be used for special events, private dinners and lodging. The Village of Waddington is quickly becoming a destination tourism destination and is in need of businesses to support it’s economic growth and preserve it’s rich history. Located on the St. Lawrence River south of Ottawa the location is fast becoming a tourism, festival and cultural hotspot but is in need of businesses to support the growth. We have purchased and are renovating a historic stone building in the village of Waddington. The building was built around 1805 and has been uninhabited for 60 years. We have used $275,00 of our own funds to date. The funding will be used to complete renovations needed for commercial use and code guidelines, pay for licensing and fees, equipment, and marketing.
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Business Plan
Growth will be organic. Waddington is quickly becoming a destination community to live in and is a hotspot for festivals, travel, and the arts. We are surrounded by 4 universities: St. Lawrence University, Clarkson, SUNY Potsdam, and SUNY Canton and there are not enough dinner and lodging options for family weekends and events. The location is just 45 minutes south of Ottawa and an easy drive to Montreal. The real estate market has increased 300% over the past two years when the U.S. is experiencing a decline in this area. The area is in desperate need of supporting businesses for growth. I am a good businesswoman with a banking background who understands economic and financial goals and how to obtain them. I am involved with community organizations and am comfortable with running a business. This is more than just running a business, it is saving a historic building, supporting a community, and being a viable asset. It is a Passion. I have raised three amazing children on my own after the death of their father while running a business and ensuring they were involved in all activities necessary to become good human beings. All three are successful adults contributing to society. Now that my nest is empty I am ready to put that same energy and drive into this business.
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Self Identified Competition
One of the reasons I want to pursue this opportunity is that there are no viable competitors in this area. There are a few bed and breakfast-businesses in private homes. No small private special event venues and no dinner venues in the area. Besides not having any competitors, we will offer a venue for small private parties such as wedding showers, rehearsal dinners, birthday parties, holidays, etc. This will be in our renovated 1805 stone house and outside gardens. We will provide private dinners, reservation only in our renovated dining area utilizing rotating chefs from Paul Smiths Culinary School and private chefs from the surrounding area. We will also utilize the commercial kitchen to prepare our jams, jellies and treats for sale.
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Contact Applicant
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