Critics have said 08-09 was one of the worst times for starting or owning a small business. Entrepreneurs in these troubled times facing tighter lending standards. Less available capital. Rising energy and supply costs.
The challenges should sound familiar. They are the ones that we all faced as consumers. But for businesses, the budget and the need for balance was even greater.
An Optimistic Bunch
Research shows the recession has not stopped the owners aspiring business. The Kauffman Foundation, a leading company that research entrepreneurship, revealed that 503,000 new businesses were created each month in 08, which was a slight increase from 07.
The capacity of small enterprises to survive puts money in the pockets of employees and contributes to the health of the economy as a whole.
So why over half a million new businesses entering the market every month in 08? And how did millions already on the market continue strong?
There are not only a strategy that kept the business on track, or just the one that led to a wrong turn. However, from the wide coverage of failing institutions, much survived, and some even prospered. Here are some.
A New Deli
thereTen years Thu Aram would not have imagined as a business owner. Although she had experience in management, she was happy as a mother of three children. But last year, something changed, and she saw an opportunity with a friend named Sunny Yoon.
Sunny husband worked for Anthony Aram, the husband of the game, an orthopedic surgeon, so the two families knew each other for a moment. Thu decided to approach about Sunny dream longtime Sunny running a grocery store.
"I asked if she would like Sunny partner, offering to take care of finance and marketing while she ran a restaurant," says the Game. "It was a difficult economy, but I knew I could make the financial support of the project. I thought it would be a great adventure to go into business together, and I knew it would work. "
Shortly after the game and Sunny all out of their adventure game contacted Pete Eisert, ERIE his agent to see what he could offer commercial insurance. Pete, who had helped his game auto insurance and homeowners, was happy to help.
"game is the type of person that no matter what she touches, she will succeed. It has an internal drive to make things happen, and so when she told me about the store, I was really excited for her, "Pete said.
Their groceries, 'Tis Corner Café combines the first initials (T and S) of two friends who got together and took a leap of faith, said game. It is also poetic for the simple declaration,
In the "is." menu: breakfast and lunch with homemade ingredients. "Our roast beef is roasted and hand-carved in the house, and we make our own chickens and eggs every day fresh salads," says the game.
Their slogan, "The peace love and sandwiches, "is written on the bottom of their menu. But the most important message they want to send is that they stand by the quality of their food and the belief in a meal cooked at home
A good start :. "I thought it would take a year to get up and running," says the game. "But even in the current economy, it is a risk worth taking. We have implemented a lot of capital to ensure that our customers know we were focused on quality, and it paid off. "
The cafe opened in September 09. They broke even in October
plans for the future. Game hopes to add more seating in the cafe making smaller and open kitchen. "It will also allow our customers to see how we make food," she said
employees :. 5 full-time employees
On the web: tiscornercafe.com
Corporate site :. 1317 East West Highway Silver Spring, Md
A security for spark
Jodi Frank had always known she wanted be in business for herself. But these dreams are easier said than done. The economic crisis of 07-08, for her, lit the spark.
She returned to the pharmaceutical industry after taking a break of 10 years to raise two children, Michael, now 16, and Rachel, 14. She recalls that "things are not the same." the company she worked for was acquired, and shortly after the economy went bad. The result for Jodi was laid off.
"was the economy in better shape," she said, "I would have just got a new job. But this was not an option for me. He gave me the inspiration and reason, starting with myself. "
The new entrepreneur formed Safety Supply Keystone, a source for record-hats, goggles and other equipment for the construction workers and others.
One of his first steps was to obtain insurance. she spoke with a former colleague who is married to Rajtik ERIE Agent Dave. Dave helped Jodi buy insurance she needed to maintain her vehicle in a commercial security and low risk liability
a lot to learn. Jodi started in the industry without prior experience. She had a lot to learn, but learn she did. She taught safety equipment inside and outside
Facing the challenge :. Jodi started Keystone Safety Supply in September 08, in the midst of the recession. to start, her husband Steve, who had intended to ensure the financial security of their family when she started the company, lost his job.
"We knew we were going to sink or swim," Jodi remembers, "and we decided to swim, the best of everything as it came"
tides turned. Jodi and her family stayed in until things got better. Now she has noticed many more opportunities in the security sector because of stimulus money. new roads and new buildings, for her, means new business
How it differs :. , exceptional personalized service. Jodi meeting with clients before ordering to make sure that they get the equipment that is right for the job. She finds out what exactly their needs and which products correspond
Advice for start-ups :. "Do not look at this That has been done; look what not been done, "she said. "Find a niche, discover what is missing in the market and try to fill it."
Number of employees: For now, only one
On the web: keystonesafetysupply.com
corporate site :. Harrisburg, Pa
A Mill Historic
In all sectors, those that serve business customers were most hard hit during the recession. Le Moulin de Bel Air, a farm and a historic garden supply store in Maryland, is no different.
"Most of our challenges on the commercial side," says third generation owner Henry Holloway. "Our retail market was very good, but the agriculture industry and other are wrong, and that hurt us in the long run. "
Henry cites dairy farms, which need bleached food (supply) for cows, and construction, which plant grass seed in new projects construction, as both industries when he noticed the most changes.
The Mill continues to thrive with a retail side booming, though, by giving the other sectors a chance to bounce back
A family tradition :. Henry bought the Bel Air Mill her grandfather, Walter Smith in 1986 at the time, The Mill mainly served the farming business, which Henry always had a love for. (. He went to school and got a degree in agriculture) In 1997, Henry had the foresight to develop the retail business
historical importance :. One of the windows of the factory is a 1887 vintage building that was originally built as a food plant
specialty plant :. In addition to feeding and seed, the plant sells products for birds, wildlife, horses, pets and gardens. Their slogan? "Making the world better for plants and animals."
ERIE Why? "Our agent, Jeff Rosenkilde was one of our clients for years. So when he approached us a couple of years ago to see if he could help us with insurance, I said "sure". He gave us a great package and we have enjoyed working with him, "said Henry
Number of employees:. Approximately 100
On Web: themillofbelair.com
company location: Four locations around Maryland
# 1 franchise
When Joe Bastian retired as CFO for Allied International signal (now Honeywell) and returned to Michigan to Hong Kong in 1999, he did not know what to do.
he and his wife, Diane, were wandering in a Panera Bread for lunch one day and really liked what they saw. they came back often, and finally Joe contacted the company to learn more about the possibilities franchise.
There was the possibility of buying a franchise Panera North Carolina at the same time. Joe Casey spoke with his sister, who lived with her husband Jeff and children in St. Louis. She agreed to provide restaurant management experience to the team. Both families picked up their lives and moved to the Tar Heel State.
Since then they have the customer service, quality and the good people of their winning combination. And it paid off.
The brother-sister team accepted the "Franchisee of the Year" at the annual conference of Panera, held last October at the Grand Ole Opera House in Nashville. The award came in the same year Joe and Casey celebrated the 10th anniversary of the franchise have
Number of pitches :. 15. The plan now is to grow to 18.
challenges and opportunities Joe and Casey have seen success in midday business, but they were prepared. They made sure customers still got the best service and food for their money. The effort led to the steady growth in sales. They also found opportunities that have made it easier growth, as the decline in property prices that have provided opportunities for new locations.
ERIE Why? Joe Casey and bought insurance through ERIE Don McClintock agent last year when they decided it was time to reassess the way they assured the company. It had been a good office neighbor and friend for years.
"One thing that is nice to work with Don is that we had an existing relationship with him. This is important for us. He also knows the industry very well in North Carolina, and appears to be a ERIE very comfortable fit for our business model, "says Casey
advice to other business owners. " Stay true to your brand, "says Casey." in difficult times, you just learn how to be who you are. We did it by focusing on improving product quality and customer service that we already had, ensuring that guests got the most for their money. "
Joe adds," to listen to the climate and you are dealing with, we have been proactive on our purchase programs, including our insurance. "
Number of employees:. 700-800
commercial locations: Throughout North Carolina
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