September 2007 Client of the Month

Paco Rosic
Galleria De Paco
Waterloo, IA

Imagine Michelangelo’s Sistine Chapel recreated with spray paint.  This is exactly what Paco Rosic, 27,of Waterloo, Iowa has dreamt of since age 6.Little did he know that the realization of this dream would lead to international visitors, a restaurant and art studio, and appearances on national media across the United States.

In 1992 Paco, along with his parents, Jacky and Anna, and brother, Alen, fled the violence of Bosnia and settled in Germany. There Paco was exposed to the culture of graffiti art and found he had a gift for ‘tagging’ (a form of graffiti art that becomes recognizable by its distinctive qualities).  In 1997, the Rosics immigrated to Waterloo, Iowa.  Recognizing his unique talent, local businesses hired Paco to create edgy street murals using spray paint, but his passion to recreate the Sistine Chapel persisted.

To support their son’s dream, Jacky and Anna searched for a building with the right ceiling canvas for his painting.  In the fall of 2005, pulling a second mortgage of $67,000 on their home, the Rosics purchased a two story 1870s building in Waterloo’s downtown area.  Realizing revenue was needed to finance the project the Rosics considered various business concepts, and eventually decided to open a restaurant. The next step was to find funding. Lacking progress with the banks, the Rosics recognized they needed help and turned to the University of Northern Iowa’s Small Business Development Center for assistance.

The Rosics worked with UNI SBDC staff in crafting a business plan and assisting with market research, which helped give the family direction.  SBDC staff also worked with the Rosics in obtaining estimates and formulating projections.  In addition, the entire family enrolled in a FastTrac® class, where they networked with other like-minded entrepreneurs.  

In February of 2006 the Rosics again approached lenders, this time better prepared with the help of the UNI SBDC. Various financial packages were considered.  Based on the cost and scope of the vision, the Rosics needed to invest their entire life savings, along with traditional bank financing and an SBA 504 loan, to finance the $500,000 project.  By April 2006, financing was fully secured.  

Paco spent four months wearing a ventilator and lying horizontally on scaffolding. He used over 5,000 cans of Krylon spray paint to create his vision.  During this time, the story of his recreation generated world-wide attention.  He was interviewed by the Chicago Tribune and Los Angeles Times, featured on ABC’s World News Tonight, and flew to New York for a guest appearance on the Rachael Ray Show.

In December of 2006, the Galleria De Paco opened.  The restaurant features a lavish European/Mediterranean atmosphere with an exceptional menu.  While the focal point of the restaurant is the recreation of the Sistine Chapel, other paintings by Paco adorn the walls in both the dining area and in The Catacomb, the downstairs bar.

Paco’s unique style of art is drawing customers from around the world to the Galleria, and is rejuvenating downtown Waterloo.  The restaurant has hosted guests from England, Germany, China, Japan, Canada, Australia, New Zealand and Russia.  The international exposure amplified the demand for Paco’s art so much that the second floor space was turned into a studio shortly after the Galleria opened. 

Recently Paco and his family became U.S. citizens. "Now we have a country," Paco says. "To me this is the greatest country. I work my rear off here. But what I get back - friends, my family, a house, my art. America is the only place you can do this."

Not every potential business owner must gain citizenship, learn a new language, adapt to new customs and cultural norms, mortgage their house a second time, and then ask for a $500,000 bank loan.  This is all without mentioning the family’s dedication to transforming a dilapidated building into art.  Jacky had this to say about the role that the UNI SBDC played during the demanding start-up stages: “The SBDC help[ed] us with [our] business plan, secur[ing] financing, and provided moral support.  Without Mike and the SBDC, things would have been much more difficult.”

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