Lazy Daisy Stitching | Application Preview
Lazy Daisy Stitching is seeking government grants to support its growth and financial stability. The application outlines plans to allocate $30,000 of the funds to eliminate startup debt, while the remaining funds will be used to introduce a new line of specialty floss and cover additional expenses.
The business aims to open a second location approximately 20 miles south of the current shop and expand the existing store to include more specialty yarns and threads. The owner expresses a deep passion for the venture, backed by extensive experience in retail, product management, and finance. Up to this point, the business has been self-financed, with the only debt being a credit card.
In terms of competition, there are two primary brick-and-mortar rivals: one located 30 miles northwest and the other 70 miles east, both of which have established online retail presence. However, Lazy Daisy Stitching is distinguishing itself by focusing solely on cross stitch, unlike the competitors who also venture into quilting, thus offering a unique competitive edge.
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General Information
Business Registration Number: 93-2071947
Location: Clarence, 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: YES
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Funding Usage
A portion of the money will go to pay off the debt incurred during start up - $30,000. The remainder of the funds will go to bring another line of specialty floss and serve as a buffer for other expenses.
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Business Plan
I would like to open a second location about 20 miles south of my current location and expand the current location to include other specialty yarns and threads. I am passionate about this venture. I have years of experience not only in retail but in product management, retail management and finance. I financed this business by myself to this point and have just the credit card as debt.
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Self Identified Competition
2 brick and mortar competitors One is 30 miles northwest of my store. The other is about 70 miles east of my store. Both of these businesses offer online retail and have for a while. I opened my brick and mortar first and am just getting into online sales. I offer a lot the same items as my other two competitors. I focus on just cross stitch while they have endeavored into quilting.
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Contact Applicant
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