Grupo Monarca, Inc. | Application Preview
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General Information
Business Registration Number: 2435-9935
Location: Morgantown, WV, United States
Length of Operation: 1-5
Number of Employees: 1-10 Employees
Annual Gross Income: $250k to $500k
Annual Gross Expense: $250k to $500k
Open to Loans: YES
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Funding Usage
Our seating is old and falling apart and we only have enough for about half of what the restaurant is capable of holding. It needs updated. This money will go towards getting the new seating to allow more customers to fit, which means more sales for the business. We also need new equipment. The previous restaurant that occupied the space had a very different set of needs. We have some equipment, but have been hindered on the amount of supplies we can buy to store and refrigerate it. We also have bathrooms that need updated. They have a mold smell that we can't figure out where its coming from no matter how much we clean and feel like we are going to have to renovate both of them to get the problem fixed. We also need to add in a baby changing station to accommodate families with young children. Having the bathrooms updated is definitely going to help customers feel like they can come be comfortable. Our business has also been a space where community events happen and having these updates will allow us to better provide the community engagement we foster here.
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Business Plan
We plan on marketing more catering opportunities as we are able get more equipment to store and refrigerate food supplies. We plan on getting a food truck to be able to attend events, such as sporting and school events, that get local vendors to provide food services. Once we have the marketing for catering and food truck in place, we plan on opening a further one or two locations to access customers that do not come downtown to Morgantown. We have an amazing idea for a Mexican restaurant that has attracted great reviews, even popular social media influencers. We have even won awards such as Best Overall Dish for the Taste of Morgantown event in 2023 the first year we opened, and got second place in the same competition for 2024. Even with our limited reach and capabilities right now, we have accomplished much in reaching and serving the customers in our area. We would like to expand and give more customers the ability to enjoy the amazing things we have to offer.
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Self Identified Competition
Our top three competitors are Don Taco, 1942 Taco y Tequila, and La Tapatia. We are a small family owned restaurant that incorporates family recipes that come directly from family in Mexico and are not found anywhere else. These competitors are mostly from chain restaurants that cannot truly give a family owned feeling to the customers that care for locally owned businesses and support them.
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Contact Applicant
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