|
Scooterz –n- Shooterz
Success Story
April, 2011
Last fall, two friends sat down over a pizza and came to the realization that they had similar visions for a business. The two US Armed Services Veterans, Kevin Ivey and Ken Williams, decided to pursue their dream of opening a store that would sell motorcycle clothing and accessories, conceal-and-carry hand guns, and a selection of cigars. They approached Congresswoman Betty Sutton’s office to see what Veterans’ Programs might help them with the project. The Congresswoman’s office referred them to the Cleveland District Office of the SBA who referred them to the Small Business Development Center (SBDC) at Summit Medina Business Alliance, Inc. (SMBA) in Akron. Jim Griggy, a Certified Business Advisor at the Akron SBDC became their advisor.
By the time they came to the SBDC, their business plan was well under way. Jim reviewed the plan and provided some suggestions to further develop a couple of points. Mr. Griggy helped them prepare for their loan application meeting and set up a meeting with Huntington Bank to apply for a Patriot Express loan. By this time it was nearing the end of 2010 when some beneficial provisions in the Recovery Act were about to sunset, David Nose’, Asst. VP & Senior Business Banking Officer, and Ella Matthews, Asst. VP & Business Banking Specialist at Huntington Bank, did a yeoman’s job of getting everything submitted to the SBA on time.
The business received a $183,000 SBA Patriot Express loan package -- $158,000 in a draw to term loan for start-up equipment, fixtures and inventory and $25,000 in a line of credit.
Scooterz -n- Shooterz will open in April 2011 in Green, Ohio. Green’s Mayor, Dick Norton, has been supportive of the idea throughout these early stages. Owners Ken and Kevin have asked Jim to meet on a monthly basis with them to review financials and discuss any other business issues that might arise.
Ken Williams was happy to comment on the service provided by the SBDC, “How can I put into words the help we received from Mr. Jim Griggy as the Small Business Development Center, but simply unreal. Mr. Griggy took Kevin and I by the hand when we needed more direction in pursuit of a dream.
“Kevin and I tried to surround ourselves with the best people possible as we knew the road ahead would not be an easy one. With his knowledge and help, we got through the process.”
The business should have no shortage of customers as both owners are active in a Veterans’ organization called Rolling Thunder, whose members are motorcycle riders.
**********************************************************
**********************************************************
Summit Medina Business Alliance (SMBA)
Success Story - Geared for Imagination
Geared for Imagination is an Ohio-based creator and distributor of high-quality products for kids and 'kidults'. Through a network of retail outlets around the United States, including gift shops, toy stores, museum shops and many more types of retailers, the owners strive to deliver the kinds of products that they want their own kids to play with. These products are "Driven by Design, Powered by Play".
Geared for Imagination was founded in 2009 by two dads, Ryan Hamilton (2 daughters, 1 son) and Bret Faber (1 daughter, 1 son). Their many years in the toy business and their experience as fathers help them find only the best products to bring to market. Last fall, they introduced their own line made completely in Ohio – Topozoo™. These toys are made from formaldehyde-free recycled wood and child-safe color stains. Introduced in time for the Christmas, the product sold as fast as it could be delivered.
When Ryan and Bret came to the Akron SBDC, their company was at a strategic decision point. They needed to replace a major source of capital. The two owners were faced with a number of options. They wanted an outside perspective to help them think through all of the various considerations. Ryan had worked with another SBDC in setting up an earlier business and was pleased with the assistance he received at that time. Based on that experience, they decided to contact the local SBDC in Akron hosted by the Summit Medina Business Alliance where Jim Griggy, one of the certified business advisors, began working with them.
“From critiquing our business plan and financial statements to connecting us with local bankers and suppliers, Jim’s help has been invaluable. As small business owners, we spend our time developing our products and operating our growing company; the SBDC has helped us keep perspective on what our company needs to continue this growth.”
In addition to Topozoo, Geared for Imagination is the exclusive US distributor of several noteworthy toy lines. The business and its products have been featured in several national and regional publications. Find out more about the company at www.gearedforimagination.com .
Bret Faber
Geared for Imagination
..........................................................
OSBDC at Summit Medina Business Alliance, Inc
Biz Day Success Story
Vadose Research & Development LLC
Vadose Research & Development LLC (VADOSE) is commercializing a technology to manufacture synthetic crude oil, natural gas and other valuable products using waste materials including scrap tires, waste motor oil, spent industrial solvents, waste plastics, etc., as raw material. The VADOSE process is modular and scalable to allow construction of crude oil manufacturing plants across Ohio in those areas that need job creation most.
Since becoming a tenant of the Akron Global Business Accelerator last August, VADOSE approached the Summit-Medina Small Business Development Center for assistance with government relations, development of expanding aspects of its business model and employment opportunities in Ohio.
In that short period of time, with the assistance of SBDC and Vadose Environmental Consultants, Inc., VADOSE Research & Development LLC has enjoyed some important accomplishments, including:
* Approval as a high-technology company in renewable energy for investor tax credit qualification through the Ohio Technology Investment Tax Credit program;
* Sought and obtained support in kind from the City of Akron, Ohio;
* Redeployed the synthetic crude oil pilot plant from New Jersey to Akron, Ohio;
* Sought and obtaining mentoring from the Manufacturing & Technology Small Business Development Center in Kent, Ohio;
* Sought and obtained Ohio funding approval for the Company's first employee via Ohio's Third Frontier Internship Program;
* Sought and obtained face-to-face meetings with Lt. Governor Lee Fisher in connection with notices of intent to apply for assistance in connection with the Ohio Jobs Stimulus Package in both the clean-coal and non-coal programs within the Advanced Energy Component; and
* The first of two submittals to the Ohio Jobs Stimulus Package has been submitted and approved to go to the formal application process.
Our SBDC is part of a Northeast Ohio-based team that is working hard to bring jobs and newly-created wealth to Ohio. VADOSE applauds its performance, and recommends the SBDC program to other entrepreneurs in Ohio.
Bill Ullom
VADOSE RESEARCH & DEVELOPMENT LLC
William L. Ullom, President
526 South Main Street, Suite 801D
Akron, OH 44311
(330) 762-6706 office
|
