America’s SBDC Blog
A “Forbes 100 Best Websites for Entrepreneurs”
Floating Success
Success Story: Illinois
- Illinois Metro East SBDC at SIUE and East St. Louis
- SBDC Advisors: Patrick McKeehan (Center Director) and Jo Ann Di Maggio May
- Client: Float Rooms USA, LLC – SBDC client since June, 2013
“If it were not for Jo Ann and the SBDC, I would not be where I am today. Jo Ann and Patrick were pivotal in helping to refine and strengthen the Float Rooms USA business plan, so we could secure a line of credit. The SBDC also connected us to SIUE marketing students who performed valuable market research for our business.” – Cheri Koene, Co-Owner, Float Rooms USA
Impact of Working with the Metro East SBDC:
• Shortly after Float Rooms USA incorporated in 2013, Ms. Koene met with the Illinois Metro East SBDC staff in East St. Louis for business plan assistance and location data. SBDC staff also connected Ms. Koene with America’s Central Port in Granite City (IL) and the Illinois Manufacturing Excellence Center, for detailed insight on how to seamlessly receive product into the United States. (more…)
Young Entrepreneur Trades Job Search for Fashion Dreams
As a recent college graduate, Sarah DeFelice was committed to a career that fulfilled both her passion for fashion and her love for life in the Green Mountain State. But as she researched the local job market, few opportunities matched her criteria for happiness.
“In short, my motivation to starting my own was that my dream job didn’t exist unless I created myself,” DeFelice said. And that’s exactly what she did.
Earlier this year, the 26-year-old fashion maven opened the Bailey Road boutique at 44 Main Street in Montpelier. The store offers elevated clothing, handbags and jewelry at accessible prices.
“We are dedicated to helping our customers achieve both professionally and personally,” Defelice said. “Whether you are on the hunt for that knock ‘em dead outfit, want help updating your wardrobe or are just looking for some retail therapy, Bailey Road can be your personalized fashion expert every step of the way.”
But long before DeFelice could make her dream become a reality, she encountered many challenges along the way. First and foremost, having little financial history and assets, DeFelice struggled to prove her business was viable to lenders. “One of the hardest parts of starting a small business as a young entrepreneur is that most traditional lending opportunities look only at the numbers and not your business plan,” she said. (more…)
The Airbnb of Construction Equipment
Success Story: Missouri
- University of Missouri-Columbia SBTDC, Missouri SBTDC network
- Client: EquipmentShare.com Inc.
- SBTDC Business Development Specialist: Collin Bunch
“Collin was very helpful. His efforts, his networking, have been very valuable.” — Willy Schlacks, Co-Founder, EquipmentShare.com
Impact of working with the Missouri SBTDC: Ten percent growth every week—from zero in January 2015 to $2.4 million in June 2015; four employees to 20, same time period (five months); and added an office in Dallas.
Read the whole story, and learn more about the Missouri SBTDC and EquipmentShare.com.
Lighting the Way to Business Success
Success Story: Pennsylvania
- Wharton SBDC, Pennsylvania SBDC network
- Client: LuxTech – SBDC client since 2013
- SBDC Consultant: Jacquline Jenkins
“The first start-up I worked at took us 3 years and $3 million investment to reach $1 million revenues. [LuxTech] took 1 year and $15,000 investment to reach $1 million revenues. Which would you rather do?” – Sean Darras, CEO and Founder, LuxTech
Impact of working with the Pennsylvania SBDC: Sean Darras founded LuxTech – which designs, develops and engineers LED modules that enable light fixture manufacturers to enter or expand their offerings. By the beginning of 2014, Darras had validated his business model, raised $700,000 in investment, hired 3 full-time and 2 part-time employees, built a national distribution network, and secured contracts for sales of over $5 million. (more…)