Smoothie King, SBDC, Palm Coast, Business Consulting

Florida SBDC at UCF Assists Launch of New Business in Palm Coast

New Smoothie King Opens with Help from FSBDC located in Palm Coast BAC

September 30, 2014

FOR IMMEDIATE RELEASE

Contact: Hal Thayer, Communications Director, FSBDC at UCF, 407.420.4850 or hthayer@bus.ucf.edu

Palm Coast – Like many entrepreneurs, “pursuing a dream” is how Christine Kraus chose to think of her journey as she began exploring the idea of owning and running a franchise. Christine did all the right things as she moved forward: she conducted extensive research on her market and on franchisors, she reached out for expert assistance with her quest and she personally monitored every step of the process.

After a great deal of research, Christine decided to proceed with working with Smoothie King due to their extremely organized business approach and their demonstrated commitment to training, marketing and start-up. Based upon her market research, her thinking was that this store would be a great addition to Palm Coast due to the local area’s focus on health and fitness.

Christine began her evaluation by attending an initial orientation session which allowed her to understand the overall approach that Smoothie King uses. Soon, she was on her way with identification of a location and began to attend their formal training programs.

And that’s when she reached out for the additional assistance she thought would increase the likelihood of her success. She asked the Florida SBDC hosted by UCF (FSBDC at UCF) located in the Palm Coast Business Assistance Center (BAC) to get involved early in helping Christine with her business plan, capital requirements and financial projections. This included a detailed analysis of her operating expenses and sales assumptions. The FSBDC helped get Christine’s business plan and loan application “bank ready” before being presented to local lenders. Christine said “I could have never done this without the help of the FSBDC and Chris Altmansberger. I forever will be in their debt”.

Once her bank loan was approved, the work began with the design, ordering of materials and start of construction. Chris Altmansberger, Florida SBDC Business Consultant, points out “A pleasure to work with, Christine has been extremely committed in every aspect from the initial business assessment and on through the timely completion of construction work followed by a fantastic opening. After finding an extremely attractive location, she stayed on top of things through every step”.

To guide a new franchise through every step of the start-up and launch process, Smoothie King begins with a day-long orientation plan with a detailed manual that covers the basic steps necessary to get a store up and operating. Site selection is closely monitored with corporate approval necessary for each and every site. Their Franchise Office requires demographics, market studies, and detail maps showing access, visibility, competition and related site criteria, all of which Christine undertook and completed. Smoothie King helped with store design, construction bid evaluation and monitoring as well as assistance with acquisition of all furniture, fixtures and equipment. Because of this thoroughness and organization, initial set-up is relatively routine and hassle free.

Smoothie King has received significant national recognition. In 2014, it was ranked the #1 smoothie franchise on Entrepreneur Magazine’s 35th annual Franchise 500 list – marking the 20th straight year the brand has occupied the number one spot. And it was ranked #86 overall in Entrepreneur’s top 500 franchises. The ranking is primarily based upon financial strength and stability, growth rate and size of system. Brand loyalty and recognition, corporate support and innovation are some of the reasons why Smoothie King is considered a leader in their industry, and why Christine is confident of a bright future in Palm Coast.

About the FSBDC at UCF

With its main office in the National Entrepreneur Center located at the Fashion Square Mall in Orlando, the SBDC at the University of Central Florida (FSBDC at UCF) is part of the UCF Office of Research & Commercialization and the Florida SBDC Network (FSBDC Network). THE FSBDC at UCF provides business seminars and no-cost, one-on-one business consultation to emerging and established businesses. The FSBDC at UCF serves an eight-county area that includes Brevard, Flagler, Lake, Orange, Osceola, Seminole, Sumter, and Volusia counties and maintains 10 service centers across Central Florida.

In 2012, the FSBDC at UCF served almost 6500 entrepreneurs and small business owners through consulting and training, resulting in 9,961 Central Florida jobs created, retained or saved; $1.3 billion in sales growth; $50.4 million in capital formation; $104.6 million in government contract awards; and 108 new businesses started.

About the FSBDC Network

The FSBDC at UCF is a member of the Florida SBDC Network, a statewide service network funded in part through cooperative agreements with the U.S. Small Business Administration, Defense Logistics Agency, State of Florida and other private and public partners. The Florida SBDC Network is hosted by the University of West Florida and is nationally accredited by the Association of SBDCs. All opinions, conclusions or recommendations expressed are those of the author(s) and do not necessarily reflect the views of the SBA.

For over 35 years, the FSBDC Network has nourished a statewide partnership between higher education and economic development organizations, dedicated to providing emerging and established business owners with management and technical assistance, enabling overall growth and increased profitability for the businesses and economic prosperity for the state. The FSBDC Network is a statewide service system of 41 centers with 60 outreach locations, including the FSBDC at UCF.

In 2012, the Florida SBDCs served approximately 38,000 entrepreneurs and small business owners through consulting and training, resulting in 47,845 jobs created, retained and saved; $6.3 billion in sales growth; $235.2 million in capital accessed; $588.4 million in government contract awards; and 744 new businesses started. And, for every $1 of Florida public and private sector investment in the FSBDC programing 2012, $40 was returned to the state in tax revenue

FSBDC at UCF | 3201 E. Colonial Drive | Orlando, FL 32801 | p 407.420.4850 | f 407.420.4862
sbdc@bus.ucf.edu | www.sbdcorlando.com

Blaine Henry, Business Consulting, SBDC

Blaine Henry Named FSBDC at UCF Regional Volunteer of the Year

Marketing Expert Served on Multiple Advisory Boards

July 17, 2014

FOR IMMEDIATE RELEASE

Contact: Hal Thayer, Communications Director, FSBDC at UCF, 407.420.4850 or hthayer@bus.ucf.edu

Orlando – The Florida SBDC at UCF is pleased to name Blaine Henry as 2014 Regional Volunteer of the Year in honor of his exemplary service to the FSBDC at UCF and its Advisory Board Council program.

Henry’s service to the small business community has been a lengthy one. He first applied to become a volunteer advisor with the Advisory Board Council in January 2005, not long after the program’s inception. According to Henry, “I joined the SBDC program because I think it is important to support local businesses, frequently small to medium sized businesses which don’t have access to consultants, to create jobs and broaden the economic matrix of the community. I think it is everyone’s responsibility to give of their time and talents to grow the community. Marketing is what I do best. Also, I benefit from learning about different businesses and really enjoy meeting the people that are involved in them!”

Henry’s involvement with the Advisory Board Council has been impressive; he has always been very giving of his time and expertise. Over his nine years as a volunteer advisor Henry has donated almost 230 hours of service to Advisory Board Council clients while serving on four advisory boards. The reported fair market value of those hours is $34,350. He explained, “Economic development is a never ending process and it is important that people try to keep it moving in a positive direction. As long as I am around you will find me working on the never ending challenge of business devel-opment.” Henry has advised his SBDC clients on issues including marketing strategy and metrics, market diversification, marketing plan development, sales strategy, succession planning, management and training.

Henry served two terms on the advisory board of ScreenWorks USA, an industry leading company which specializes in the development, merchandising and production of screen printed, embroidered and heat embellished apparel. Sharad Mehta, president, commented on the contribution Henry has made to his business. “Blaine has been a most valued member of our Advisory Board and has injected a marketing and sales perspective to our deliberations. ScreenWorks had been lacking aggressive marketing and sales initiatives and historically focused on product development. This new insight has helped us in making adjustments in our strategy for growth.” Henry has provided the firm with market research and corporate profiles of competitors and prospects from some of his data sources, offered guidance on sales team structure and responsibilities, assisted with market diversification and advised on sales strategy, selling techniques, and strategic planning, among many others.

ACT, Inc. was another company Henry assisted. He worked with the company to develop a marketing plan which would enable them to attract private financing and secure a Small Business Innovation Research Grant from the Centers for Disease Control and Prevention. This grant enabled the design and expansion of their product line to accommodate user installation of their primary product. According to John Martino, ACT, Inc.’s president, “Blaine Henry took the time to demonstrate a genuine interest in exploring and understanding our business. As this understanding took hold he was better suited to provide several recommendations and suggestions to us. His extensive experience in a number of different industries enabled us to apply innovative solutions to our business challenges. The understanding and discoveries made by ACT, Inc. during that process will continue to offer us great value in the future.”

Another company Henry assisted through an advisory board was a family owned mattress manufacturer. Henry volun-teered to conduct a daylong seminar with them where he looked at their sales ledgers and identified over 120 products and services they were currently selling. Predictably, five of those products accounted for over 80 percent of their revenue and most of their products and services were not profitable at all. He concluded that they should focus on their top 10 products and hire a person to concentrate on outside sales and customer service. The firm was successful in expanding employment in their key product lines and secured a major contract with a multiple outlet regional distributor.

Blaine Henry has been professionally counseling and supplying marketing services to small, medium and large businesses for the last 30 years. After receiving a Master’s of Science degree from the London School of Economics, he entered government service to assist economic development in the U.S. and internationally. After four years as Manager of In-ternational Operations of the Nebraska Department of Economic Development, Henry came to the conclusion that eco-nomic development depends upon the ability of businesses to market themselves domestically and internationally. He started a business development consultancy in London in 1985 and has been working with a wide variety of businesses to improve their performance in the marketplace ever since. In 1986 he earned the designation of Certified Economic Developer with the American Economic Development Council. Mr. Henry is currently Managing Director of Market So-lutions International, a marketing consultancy specializing in domestic and international market development for financial services, scientific research, marine engineering, tourism, and logistics industries.

The Florida SBDC at UCF’s Advisory Board Council is an economic development program that operates within the Florida SBDC at UCF and is partially funded by Orange County Government, as well as at the FSBDC at Seminole State College. The program is a no-cost professional advisory service for local companies. By acting as a matchmaker between businesses and volunteer advisors, all of whom are professionals in our community, the Advisory Board Council program acts to positively impact Central Florida businesses through revenue growth and job creation. Businesses also benefit by improved operations, marketing, financial management, reduced costs, leadership development and succession planning.

— FSBDC —

About the FSBDC at UCF

With its main office in the National Entrepreneur Center located at the Fashion Square Mall in Orlando, the SBDC at the University of Central Florida (FSBDC at UCF) is part of the UCF Office of Research & Commercialization and the Florida SBDC Network (FSBDC Network). THE FSBDC at UCF provides business seminars and no-cost, one-on-one business consultation to emerging and established businesses. The FSBDC at UCF serves an eight-county area that includes Brevard, Flagler, Lake, Orange, Osceola, Seminole, Sumter, and Volusia counties and maintains 10 service centers across Central Florida.

In 2012, the FSBDC at UCF served almost 6500 entrepreneurs and small business owners through consulting and training, resulting in 9,961 Central Florida jobs created, retained or saved; $1.3 billion in sales growth; $50.4 million in capital formation; $104.6 million in government contract awards; and 108 new businesses started.

About the FSBDC Network

The FSBDC at UCF is a member of the Florida SBDC Network, a statewide service network funded in part through cooperative agreements with the U.S. Small Business Administration, Defense Logistics Agency, State of Florida and other private and public partners. The Florida SBDC Network is hosted by the University of West Florida and is nationally accredited by the Association of SBDCs. All opinions, conclusions or recommendations expressed are those of the author(s) and do not necessarily reflect the views of the SBA.

For over 35 years, the FSBDC Network has nourished a statewide partnership between higher education and economic development organizations, dedicated to providing emerging and established business owners with management and technical assistance, enabling overall growth and increased profitability for the businesses and economic prosperity for the state. The FSBDC Network is a statewide service system of 41 centers with 60 outreach locations, including the FSBDC at UCF.

In 2012, the Florida SBDCs served approximately 38,000 entrepreneurs and small business owners through consulting and training, resulting in 47,845 jobs created, retained and saved; $6.3 billion in sales growth; $235.2 million in capital accessed; $588.4 million in government contract awards; and 744 new businesses started. And, for every $1 of Florida public and private sector investment in the FSBDC programing 2012, $40 was returned to the state in tax revenue

FSBDC at UCF | 3201 E. Colonial Drive | Orlando, FL 32801 | p 407.420.4850 | f 407.420.4862
sbdc@bus.ucf.edu | www.sbdcorlando.com

 

FSBDC, UCF, Business Consulting

Elipsis Engineering & Consulting Realizes Success With Assistance from FSBDC at UCF’s Advisory Board Council

Engineering firm Achieves Rapid Growth While Staying True to Guiding Principles

July 15, 2014

FOR IMMEDIATE RELEASE

Contact: Hal Thayer, Communications Director, FSBDC at UCF, 407.420.4850 or hthayer@bus.ucf.edu

Orlando – In the beginning of 2009, with the economy in a severe downturn and many businesses failing, Sarah Blake took a risk and opened Elipsis Engineering & Consulting, LLC with no capital, two employees and $200,000 in revenue. This risk has reaped many rewards as the firm recently celebrated its fifth year in operation and was named one of the 2014 fastest growing private companies in Central Florida by the Orlando Business Journal (OBJ).

A second significant milestone for the firm occurred in 2012 when Elipsis applied to participate in the FSBDC at UCF’s Advisory Board Council program. “We joined the Advisory Board Council because we were such a young company and didn’t have all the expertise we needed,” remarked Blake. She worked with Advisory Board Council Program Manager Jill Kaufman, who hand-picked a team of board members to address the company’s needs and accelerate their growth. Experts in marketing, human resources, business law, finance, accounting, strategic planning and government contracting comprised Elipsis’ board of advisors. According to Blake, “It’s an opportunity that you don’t typically have as a small business. It’s hard to get the professional advice that you need and that’s affordable. I would recommend the Advisory Board Council program because it is a great resource at no cost.”

The board acted as a catalyst that helped drive the firm’s rapid development and expansion. “My board always made themselves available to me,” explained Blake. “They have helped develop our business strategy and improve our hiring process, especially in a tighter labor market. With the financials they have helped me understand our profit margin and develop goals and metrics for strong financial growth. They have helped us establish a plan for our growth and resources.” In addition to the board’s input on the business, they also mentored Blake on her personal development. “The board has helped me develop as a business owner,” commented Blake. “My perspective has changed and I have realized what I need to be delegating. They have helped me to become a better leader.”

Blake says the top accomplishments of her company since her advisory board began in 2012 include: purchase of an office building which expanded their facility from 3,000 sq. ft. to 7,000 sq. ft.; doubling the size of their fleet of vehicles from 10 to 20; increased staff from 17 to 30 employees; and increased revenue by 82%. Moreover, the firm was awarded two 5 year $5 million continuing service contracts with the Florida Department of Transportation for materials testing and geotechnical services and construction engineering inspection support. In addition, Elipsis has worked on some of the region’s largest projects including Sunrail, Wekiva Parkway and I-4 Ultimate.

As she leads Elipsis, Blake is guided by a set of deeply-held core values which include “Significance”. “We strive to be Significant by giving back to our community and assisting organizations that are making a difference locally and internationally,” Blake explained. Although Blake and Elipsis have won numerous accolades including 2014 OBJ Fast 50; 2013 OBJ 40 Under 40; Orlando’s 2014 OBJ Top Engineering Firms; Orlando’s 2013 Largest Women-Owned Businesses; 2013 OBJ Women Who Mean Business; and 2014 OBJ Best Places to Work, one of the awards she is most proud of was being named among the 2013 Central Florida Top Philanthropic Companies. “Our focus hasn’t been on large profits,” explained Blake. “Our focus has been on having a good, stable work environment. What we have found is that we have been more blessed than we ever could have imagined. We are a company that our employees are proud to work for.”

— FSBDC —

About the FSBDC at UCF

With its main office in the National Entrepreneur Center located at the Fashion Square Mall in Orlando, the SBDC at the University of Central Florida (FSBDC at UCF) is part of the UCF Office of Research & Commercialization and the Florida SBDC Network (FSBDC Network). THE FSBDC at UCF provides business seminars and no-cost, one-on-one business consultation to emerging and established businesses. The FSBDC at UCF serves an eight-county area that includes Brevard, Flagler, Lake, Orange, Osceola, Seminole, Sumter, and Volusia counties and maintains 10 service centers across Central Florida.

In 2012, the FSBDC at UCF served almost 6500 entrepreneurs and small business owners through consulting and training, resulting in 9,961 Central Florida jobs created, retained or saved; $1.3 billion in sales growth; $50.4 million in capital formation; $104.6 million in government contract awards; and 108 new businesses started.

About the FSBDC Network

The FSBDC at UCF is a member of the Florida SBDC Network, a statewide service network funded in part through cooperative agreements with the U.S. Small Business Administration, Defense Logistics Agency, State of Florida and other private and public partners. The Florida SBDC Network is hosted by the University of West Florida and is nationally accredited by the Association of SBDCs. All opinions, conclusions or recommendations expressed are those of the author(s) and do not necessarily reflect the views of the SBA.

For over 35 years, the FSBDC Network has nourished a statewide partnership between higher education and economic development organizations, dedicated to providing emerging and established business owners with management and technical assistance, enabling overall growth and increased profitability for the businesses and economic prosperity for the state. The FSBDC Network is a statewide service system of 41 centers with 60 outreach locations, including the FSBDC at UCF.

In 2012, the Florida SBDCs served approximately 38,000 entrepreneurs and small business owners through consulting and training, resulting in 47,845 jobs created, retained and saved; $6.3 billion in sales growth; $235.2 million in capital accessed; $588.4 million in government contract awards; and 744 new businesses started. And, for every $1 of Florida public and private sector investment in the FSBDC programing 2012, $40 was returned to the state in tax revenue

FSBDC at UCF | 3201 E. Colonial Drive | Orlando, FL 32801 | p 407.420.4850 | f 407.420.4862
sbdc@bus.ucf.edu | www.sbdcorlando.com

 

FSBDC, UCF, Business Consulting

FSBDC at UCF Palm Coast Assists Focaccia: An Authentic Italian Pizza Restaurant

Restaurant Opens Thanks to Palm Coast Business Assistance Center

July 8, 2014

FOR IMMEDIATE RELEASE

Contact: Hal Thayer, Communications Director, FSBDC at UCF, 407.420.4850 or hthayer@bus.ucf.edu

Palm Coast, FL – When it comes to pizza, there’s pizza, then there’s authentic Italian pizza. And thanks to the Florida SBDC at UCF at the Palm Coast Business Assistance Center, the food lovers of Flagler County now have access to just that: authentic Italian pizza made by an expert chef from Rome with genuine Italian ingredients. You might have difficulty pronouncing Focaccia (fo-katt-chia) but you’ll never have difficulty saying DELICIOUS! Located at 85 Cypress Point Parkway, you’ll enter the restaurant to be greeted by Alexia, the friendliest person you could imagine.

Straight from Rome, Italy, Alexia Tarantino and Dario Carbone visited Florida on vacations numerous times and found their way to Palm Coast. Although they had previously visited many Florida locations to establish their business, they chose Palm Coast as their first choice to bring their pizza concept of a “fast-casual pizzeria to life”.

In Rome, ‘Pizza al Taglio’ (Pizza by the Slice) is an extremely popular way of buying pizza. True to their word and their business strategy, Alexia and Dario only make pizza as “the Romans do”! Focaccia’s secret formula is hidden in the making of dough – only Dario makes the dough. Made from high protein flours rich in nutrients, the dough traps gasses while being baked resulting in a light and airy flavor. The entire dough making process is lengthy and is necessary to remove the yeast which often causes bloating and a sleepy feeling with traditional pizza. Focaccia’s dough is “vegan friendly” and has no “improvers” added.

Upon entering the restaurant, you need only glance at the colorful presentation of pizzas containing only the freshest of toppings. At Focaccia’s, there’s no need to agree on which toppings for your pizza – there is a wide variety to choose from! Alexia and Dario insist on using only fresh meats and vegetables; hence, you’ll never find pre-packaged meats or vegetables in this restaurant. According to Alexia, “there’s no substitute for FRESH”. Focaccia also offers a selection of Italian beers and wines that complement their pizzas and sandwiches.

Starting a business is never easy so it’s easy to assume that opening a business in Palm Coast while living in Rome, Italy might have its own unique set of challenges. Upon their return to Florida, Dario and Alexia found the Palm Coast Business Assistance Center. Alexia remarked, “Having this resource available was a source of a huge piece of mind for us even if we were on the other side of the world. Working our way through the permitting process and understanding Palm Coast‘s requirements were simplified with the help provided by the Florida SBDC. All of our questions and inquiries were directed to the right people saving us considerable time in opening our business.”

Joe Roy, Area Manager of the Florida SBDC met Dario and Alexia for the first time in January, 2013. “They had a detailed business plan and were very knowledgeable about their business. I recall asking them if they understood America’s love affair with pizza and how their pizza would compare. They simply smiled!”

Working with Dario and Alexia presented unique challenges for the Florida SBDC. Roy helps all business clients build their sales plan and expense budgets. Little did Roy know that the financial plan would undergo a third party independent review in Italy in order for Dario and Alexia to qualify for an investor visa! In May 2013, they returned to Italy and submitted their business plan to the U.S. Embassy for review.” I was thrilled when Dario called from Italy on May 5, 2013 indicating that visas had been issued”, said Roy.

Focaccia opened for business on September 21, 2013. Thus far, “feedback has been very positive” said Dario. “There seems to be a growing number of people who want an alternative to traditional pizza. Customers are also growing more aware of ingredients and what’s in the food they eat.” One customer commented on tripadvisor®, “This is our regular Friday night stop. Food is amazing, fresh, and lovely combinations. Have tried everything on the menu and keep coming back for more. The owners are gracious and welcoming. I would expect to find this type of locale in New York City. It’s a pleasant surprise to find it right here in Palm Coast.”

— FSBDC —

About the FSBDC at UCF

With its main office in the National Entrepreneur Center located at the Fashion Square Mall in Orlando, the SBDC at the University of Central Florida (FSBDC at UCF) is part of the UCF Office of Research & Commercialization and the Florida SBDC Network (FSBDC Network). THE FSBDC at UCF provides business seminars and no-cost, one-on-one business consultation to emerging and established businesses. The FSBDC at UCF serves an eight-county area that includes Brevard, Flagler, Lake, Orange, Osceola, Seminole, Sumter, and Volusia counties and maintains 10 service centers across Central Florida.

In 2012, the FSBDC at UCF served almost 6500 entrepreneurs and small business owners through consulting and training, resulting in 9,961 Central Florida jobs created, retained or saved; $1.3 billion in sales growth; $50.4 million in capital formation; $104.6 million in government contract awards; and 108 new businesses started.

About the FSBDC Network

The FSBDC at UCF is a member of the Florida SBDC Network, a statewide service network funded in part through cooperative agreements with the U.S. Small Business Administration, Defense Logistics Agency, State of Florida and other private and public partners. The Florida SBDC Network is hosted by the University of West Florida and is nationally accredited by the Association of SBDCs. All opinions, conclusions or recommendations expressed are those of the author(s) and do not necessarily reflect the views of the SBA.

For over 35 years, the FSBDC Network has nourished a statewide partnership between higher education and economic development organizations, dedicated to providing emerging and established business owners with management and technical assistance, enabling overall growth and increased profitability for the businesses and economic prosperity for the state. The FSBDC Network is a statewide service system of 41 centers with 60 outreach locations, including the FSBDC at UCF.

In 2012, the Florida SBDCs served approximately 38,000 entrepreneurs and small business owners through consulting and training, resulting in 47,845 jobs created, retained and saved; $6.3 billion in sales growth; $235.2 million in capital accessed; $588.4 million in government contract awards; and 744 new businesses started. And, for every $1 of Florida public and private sector investment in the FSBDC programing 2012, $40 was returned to the state in tax revenue

FSBDC at UCF | 3201 E. Colonial Drive | Orlando, FL 32801 | p 407.420.4850 | f 407.420.4862
sbdc@bus.ucf.edu | www.sbdcorlando.com

 

FSBDC, UCF, Business Consulting

Florida SBDC at UCF to Host Business Management Seminar: Human Resources Strategies: The Heart of Your Organization

Will Provide Keen HR Insights for Business Owners and Managers

June 23, 2014

FOR IMMEDIATE RELEASE

Contact: Hal Thayer, Communications Director, FSBDC at UCF, 407.420.4850 or hthayer@bus.ucf.edu

Orlando, FL – There is virtually no work in today’s world of business that is not impacted by the effectiveness of the workforce. Whether working behind the scenes or out front with customers, a company’s business is its employees. Fortunately, there are human resource strategies centered on company culture, employee engagement and workforce performance, as well as other factors, that can help organizations grow and succeed.

To assist Central Florida businesses reduce the organizational risk associated with disengaged employees, a toxic company culture or workforce underperformance, the Florida SBDC at UCF has announced that it is hosting a new business management seminar for business owners, CEOs, company presidents and HR professionals entitled “Human Resources Strategies: The Heart of Your Organization” featuring Carol E. M. Anderson, owner and principal of Anderson Performance Partners, LLC, a respected leader in human resource management and strategy.

Scheduled for Thursday, June 26th from 9:00 am – 12:000 Noon at the National Entrepreneur Center in Orlando, the seminar will focus on issue that can contribute to business success if managed properly, or doom a company to poor performance if not, including:

  • How employee performance relates to the bottom line
  • How to build and engage a committed workforce
  • Create the right cultural fit for any business

Business owners, CEOs, company presidents, HR professionals and others interested in attending can register at www.sbdcorlando.com/HRStrategies or by calling (407) 420-4850. There is a $30 registration fee that includes a continental breakfast and workshop materials. The Florida SBDC at UCF is located inside the

— FSBDC —

About the FSBDC at UCF

With its main office in the National Entrepreneur Center located at the Fashion Square Mall in Orlando, the SBDC at the University of Central Florida (FSBDC at UCF) is part of the UCF Office of Research & Commercialization and the Florida SBDC Network (FSBDC Network). THE FSBDC at UCF provides business seminars and no-cost, one-on-one business consultation to emerging and established businesses. The FSBDC at UCF serves an eight-county area that includes Brevard, Flagler, Lake, Orange, Osceola, Seminole, Sumter, and Volusia counties and maintains 10 service centers across Central Florida.

In 2012, the FSBDC at UCF served almost 6500 entrepreneurs and small business owners through consulting and training, resulting in 9,961 Central Florida jobs created, retained or saved; $1.3 billion in sales growth; $50.4 million in capital formation; $104.6 million in government contract awards; and 108 new businesses started.

About the FSBDC Network

The FSBDC at UCF is a member of the Florida SBDC Network, a statewide service network funded in part through cooperative agreements with the U.S. Small Business Administration, Defense Logistics Agency, State of Florida and other private and public partners. The Florida SBDC Network is hosted by the University of West Florida and is nationally accredited by the Association of SBDCs. All opinions, conclusions or recommendations expressed are those of the author(s) and do not necessarily reflect the views of the SBA.

For over 35 years, the FSBDC Network has nourished a statewide partnership between higher education and economic development organizations, dedicated to providing emerging and established business owners with management and technical assistance, enabling overall growth and increased profitability for the businesses and economic prosperity for the state. The FSBDC Network is a statewide service system of 41 centers with 60 outreach locations, including the FSBDC at UCF.

In 2012, the Florida SBDCs served approximately 38,000 entrepreneurs and small business owners through consulting and training, resulting in 47,845 jobs created, retained and saved; $6.3 billion in sales growth; $235.2 million in capital accessed; $588.4 million in government contract awards; and 744 new businesses started. And, for every $1 of Florida public and private sector investment in the FSBDC programing 2012, $40 was returned to the state in tax revenue

FSBDC at UCF | 3201 E. Colonial Drive | Orlando, FL 32801 | p 407.420.4850 | f 407.420.4862
sbdc@bus.ucf.edu | www.sbdcorlando.com

 

FSBDC, UCF, Business Consulting

FSBDC at UCF Celebrates National Small Business Week

Two FSBDC at UCF Clients and a Partner Being Honored as SBA Award Winners

May 15, 2014

FOR IMMEDIATE RELEASE

Contact: Hal Thayer, Communications Director, FSBDC at UCF, 407.420.4850 or hthayer@bus.ucf.edu

Orlando, FL – In recognition of the immense contribution to a healthy economy made by the entrepreneurs and small business owners of Central Florida and the nation, the Florida Small Business Development Center at the University of Central Florida (FSBDC at UCF) is celebrating the US Small Business Administration’s (SBA) National Small Business Week with a luncheon and awards ceremony recognizing local SBA award winners and champions.

The FSBDC at UCF’s National Small Business Week celebration will occur on Tuesday May 20th at the 2014 Small Business Awards Luncheon, an invitation-only event being held at the Citrus Club in downtown Orlando. Eunice Choi, Regional Director at the SBDC at UCF, is hosting the luncheon which will feature remarks by Wilfredo J. Gonzalez, SBA North Florida District Director, who will present the following awards to local SBA awards recipients in attendance:

  • Woman-Owned Small Business Person of the Year
    State and North Florida District Winner
    Jing Zhou, Interventions Unlimited, Inc., Oviedo
  • Veteran-Owned Small Business Person of the Year
    North Florida District Winner
    Jack Corthell, Aircraft Engineering & Installation Services, Inc., Orlando
  • Small Business Financial Advocate of the Year
    State and North Florida District Winner
    Jennifer Hodges, SunTrust Bank, Winter Park

“Our clients and advocate are so very worthy of recognition by the Small Business Administration as part of its Small Business Week,” remarked Eunice Choi of the Florida SBDC at UCF. “We at the SBDC at UCF are extremely pleased that our valued clients and advocate have been honored for their hard won and success and contribution to our local economy. It is gratifying to the FSBDC that we assisted them in their achievements in some small way.”

“It is an honor to recognize the achievements of these exceptional small business leaders and advocates,” said Michael Myhre, CEO and Network State Director for the Florida SBDC Network. “These innovative companies and partners play a key role in stimulating economic development – helping our state and nation move forward. We are pleased that the services and support provided to Florida’s small businesses by our Florida SBDC professionals in Orlando are acknowledged in this important way.”

National Small Business Week is proclaimed by the President of the United States to recognize the critical contributions made by America’s small businesses and entrepreneurs to our economy. This year’s week-long celebration is scheduled to run May 12 – 16 with events being held in multiple cities from coast-to-coast that are designed to help small businesses start, grow and succeed. The week’s events culminate in Washington, DC, where the national winner will be announced.

— FSBDC —

About the FSBDC at UCF

With its main office in the National Entrepreneur Center located at the Fashion Square Mall in Orlando, the SBDC at the University of Central Florida (FSBDC at UCF) is part of the UCF Office of Research & Commercialization and the Florida SBDC Network (FSBDC Network). THE FSBDC at UCF provides business seminars and no-cost, one-on-one business consultation to emerging and established businesses. The FSBDC at UCF serves an eight-county area that includes Brevard, Flagler, Lake, Orange, Osceola, Seminole, Sumter, and Volusia counties and maintains 10 service centers across Central Florida.

In 2012, the FSBDC at UCF served almost 6500 entrepreneurs and small business owners through consulting and training, resulting in 9,961 Central Florida jobs created, retained or saved; $1.3 billion in sales growth; $50.4 million in capital formation; $104.6 million in government contract awards; and 108 new businesses started.

About the FSBDC Network

The FSBDC at UCF is a member of the Florida SBDC Network, a statewide service network funded in part through cooperative agreements with the U.S. Small Business Administration, Defense Logistics Agency, State of Florida and other private and public partners. The Florida SBDC Network is hosted by the University of West Florida and is nationally accredited by the Association of SBDCs. All opinions, conclusions or recommendations expressed are those of the author(s) and do not necessarily reflect the views of the SBA.

For over 35 years, the FSBDC Network has nourished a statewide partnership between higher education and economic development organizations, dedicated to providing emerging and established business owners with management and technical assistance, enabling overall growth and increased profitability for the businesses and economic prosperity for the state. The FSBDC Network is a statewide service system of 41 centers with 60 outreach locations, including the FSBDC at UCF.

In 2012, the Florida SBDCs served approximately 38,000 entrepreneurs and small business owners through consulting and training, resulting in 47,845 jobs created, retained and saved; $6.3 billion in sales growth; $235.2 million in capital accessed; $588.4 million in government contract awards; and 744 new businesses started. And, for every $1 of Florida public and private sector investment in the FSBDC programing 2012, $40 was returned to the state in tax revenue

FSBDC at UCF | 3201 E. Colonial Drive | Orlando, FL 32801 | p 407.420.4850 | f 407.420.4862
sbdc@bus.ucf.edu | www.sbdcorlando.com

 

FSBDC, UCF, Business Consulting

Florida SBDC at Daytona State College Guides Buffington’s Bar & Grill Through the Small Business Start-Up Maze

May 1, 2014

FOR IMMEDIATE RELEASE

Contact: Hal Thayer, Communications Director, FSBDC at UCF, 407.420.4850 or hthayer@bus.ucf.edu

Orlando, FL – Starting a new business brings with it a wide range of challenges. But when that business is your dream, you do what it takes to make it work. For brothers Joshua and Chris Buffington, their dream was to open their own restaurant. Both Joshua and Chris had worked in the restaurant industry for many years, in virtually every facet of the business, and believed that they had the necessary knowledge to succeed.

Uncertain as to where to start their journey, Joshua and Chris came to the FSBDC at Daytona State College (FSBDC at DSC), a sub-center of the FSBDC at the University of Central Florida (FSBDC at UCF), in February 2013. They came with the questions most entrepreneurs who are looking to start a business have: what are the key steps in the start-up process, guidance about completing a business plan and ideas about possible financing sources.

Van Canada, a professionally certified business consultant at the FSBDC at DSC, sat down with the Buffington brothers and mapped out a plan. The three of them worked together on completing the business plan, making sure their prospective business was properly registered and licensed with all necessary agencies and Van contacted several banks to assess interest in restaurant lending.

At about the same time, the perfect location became available in Ormond Beach and the Buffington’s moved quickly to secure the site. They arranged owner financing and used their own resources to make it work. The upscale Irish pub restaurant, Buffington’s Bar & Grill, opened April 1, 2013 and Joshua and Chris haven’t looked back since.

The brothers are now a year in business and have enjoyed their new found success. They have been very creative in continuing to secure needed financing and have been marketing themselves by becoming intertwined in the Ormond Beach community. As Joshua stated “we have hosted, partnered, and contributed our time to numerous local charities and events over the last few months which we think has been a great way of bringing our name to the public while supporting our neighbors.”

The Buffingtons have shown the epitome of entrepreneurship in overcoming difficult situations with creative solutions and the FSBDC will continue working with them to assist in their growth and success. They credit the FSBDC for the valuable role it played in helping them open their doors and become successful, with Joshua saying “When we sought out to open a business of our own, we really had no idea what we were doing. It was certainly a learning process, but with the guidance and help of the Florida SBDC we were able to make our dream into a reality.”

— FSBDC —

About the FSBDC at UCF

With its main office in the National Entrepreneur Center located at the Fashion Square Mall in Orlando, the SBDC at the University of Central Florida (FSBDC at UCF) is part of the UCF Office of Research & Commercialization and the Florida SBDC Network (FSBDC Network). THE FSBDC at UCF provides business seminars and no-cost, one-on-one business consultation to emerging and established businesses. The FSBDC at UCF serves an eight-county area that includes Brevard, Flagler, Lake, Orange, Osceola, Seminole, Sumter, and Volusia counties and maintains 10 service centers across Central Florida.

In 2012, the FSBDC at UCF served almost 6500 entrepreneurs and small business owners through consulting and training, resulting in 9,961 Central Florida jobs created, retained or saved; $1.3 billion in sales growth; $50.4 million in capital formation; $104.6 million in government contract awards; and 108 new businesses started.

About the FSBDC Network

The FSBDC at UCF is a member of the Florida SBDC Network, a statewide service network funded in part through cooperative agreements with the U.S. Small Business Administration, Defense Logistics Agency, State of Florida and other private and public partners. The Florida SBDC Network is hosted by the University of West Florida and is nationally accredited by the Association of SBDCs. All opinions, conclusions or recommendations expressed are those of the author(s) and do not necessarily reflect the views of the SBA.

For over 35 years, the FSBDC Network has nourished a statewide partnership between higher education and economic development organizations, dedicated to providing emerging and established business owners with management and technical assistance, enabling overall growth and increased profitability for the businesses and economic prosperity for the state. The FSBDC Network is a statewide service system of 41 centers with 60 outreach locations, including the FSBDC at UCF.

In 2012, the Florida SBDCs served approximately 38,000 entrepreneurs and small business owners through consulting and training, resulting in 47,845 jobs created, retained and saved; $6.3 billion in sales growth; $235.2 million in capital accessed; $588.4 million in government contract awards; and 744 new businesses started. And, for every $1 of Florida public and private sector investment in the FSBDC programing 2012, $40 was returned to the state in tax revenue

FSBDC at UCF | 3201 E. Colonial Drive | Orlando, FL 32801 | p 407.420.4850 | f 407.420.4862
sbdc@bus.ucf.edu | www.sbdcorlando.com

 

FSBDC, UCF, Business Consulting

UCF’s College of Business Administration Students Honored by Small Business Institute®

Two Student Teams Win SBI® Project of the Year Awards

March 18, 2014

FOR IMMEDIATE RELEASE

Contact: Hal Thayer, Communications Director, FSBDC at UCF, 407.420.4850 or hthayer@bus.ucf.edu

Orlando, FL –    The Small Business Institute® (SBI®), the premier professional association of small business/ entrepreneurship educators and researchers involved in student analysis projects, recently announced that two (2) student teams from the University of Central Florida’s College of Business Administration (UCF CBA) were winners of its annual Project of the Year (POY) competition, taking third prize in the 2014 ‘Graduate Comprehensive’ and ‘Graduate Specialized’ categories, respectively.

In competition with MBA teams from across the country, the UCF CBA team of graduate students William R. Wills and Matthew Wolfe produced a winning consulting project in the “Graduate Comprehensive’ category for a local firm, Advanced IT Concepts, and the team of Erin Brennan, Jasmin Evans and Jeremy Harris delivered a winning project in the ‘Graduate Specialized’ category for Orlando-based Barnett Murphy Direct Marketing.  Both teams were under the guidance of the UCF CBA SBI® Program Director Dr. Lloyd Fernald, Professor Emeritus at the UCF College of Business Administration.

The Florida SBDC at UCF (FSBDC) is the proud sponsor of the Small Business Institute®. The FSBDC, in conjunction with the UCF College of Business Administration, manages the SBI® program locally. It recruits and evaluates FSBDC clients for the program, lends FSBDC certified business consultants as SBI® case supervisors and provides a range of guidance and support. The FSBDC recently became a part of the UCF Office of Research & Commercialization (UCF ORC).

“The SBI® program is yet another important way that the FSBDC at UCF and UCF itself supports small businesses in Central Florida,” said Dr. Tom O’Neal, associate vice president of the UCF ORC. “It demonstrates UCF’s commitment to our community and to growing our region’s entrepreneurial ecosystem, and to the economic development that comes from that ecosystem.”

In the SBI®’s 2014 Project of the Year ‘Graduate Comprehensive’ competition, the UCF CBA student team worked with Advanced IT Concepts (AITC) which is in the business of assisting customers through the design and implementation of innovative IT solutions. AITC is an SBA 8(a) Certified IT Systems Integrator, Value-Add Reseller and Service Provider to government and private sectors. Working closely with AITC’s President Gabriel Ruiz, the student team’s consulting engagement and assignment was focused on reviewing the company’s financial situation and providing recommendations on tools and process to improve budgeting and financial management and provide guidance on industry-standard staffing.

The student team that took the third place award for the SBI®’s 2014 Project of the Year ‘Graduate Specialized’ competition worked with Chuck Barnett, chief executive officer of Barnett Murphy Direct Marketing (BMDM). As the name suggests, Barnett Murphy Direct Marketing is an Orlando-based direct marketing agency that specializes in response-provoking personalized marketing. Its services include creative, data, custom web development, digital communications, variable digital print and direct mail. The student team’s consulting engagement and assignment concentrated on preparing a target market analysis in connection with a new product launch.

Under the guidance of SBI® Program Director Dr. Lloyd Fernald, the student teams oversaw and implemented extensive research and analysis to determine industry best practices; met weekly to understand company processes and procedures; and performed wide-ranging analysis of business and industry strategies and performance. As a result of their efforts, the students were able to provide a comprehensive analysis and set of recommendations.

“Congratulations to each of these worthy UCF College of Business Administration students,” said Dr. Paul Jarley, dean of the UCF CBA. “I applaud their efforts. I also want to recognize the FSBDC at UCF and its SBI® program for its emphasis on experiential learning and its applications when working with local businesses. It demonstrates not only our support of our business community but also to preparing our MBA students with hands-on experience that will make them successful in a today’s job market.”

“We salute our Small Business Institute® team from UCF,” said Gabriel Ruiz of Advanced IT Concepts.  “Their work has helped us shore up our financial management and budgeting processes, and in so doing made us a stronger company better able to meet and exceed our clients’ expectations.  This experience was very beneficial for us; it was yet one more example of the fantastic support provided by the Florida SBDC at UCF and the value they bring to the local small business community. Every small business owner should take advantage of this program.”

SBI® is a nation‐wide program that provides high‐quality business assistance to companies in need while providing an extraordinary opportunity for university students to learn through field case studies. Each project is led and conducted by a group of students under the supervision of an SBI® Director. The experience is often cited by students as being one of the most rewarding of their academic careers. In today’s collegiate environment there is a strong emphasis on experiential learning, and the SBI® has been at the forefront of this movement for over thirty years.

At the UCF College of Business Administration, SBI® is a graduate‐level elective course. Students enrolled in the class provide management consulting services to local small businesses. Each student team has direct contact with the client and produces a professional case report. The report is the ultimate product of the program and is tailored to each business. Case study reports have included market research, marketing plans, competitive analysis, advertising strategy, customer surveys, strategic plans, financial analysis, human resource manuals and business plans.

— FSBDC —

About the FSBDC at UCF

With its main office in the National Entrepreneur Center located at the Fashion Square Mall in Orlando, the SBDC at the University of Central Florida (FSBDC at UCF) is part of the UCF Office of Research & Commercialization and the Florida SBDC Network (FSBDC Network). THE FSBDC at UCF provides business seminars and no-cost, one-on-one business consultation to emerging and established businesses. The FSBDC at UCF serves an eight-county area that includes Brevard, Flagler, Lake, Orange, Osceola, Seminole, Sumter, and Volusia counties and maintains 10 service centers across Central Florida.

In 2012, the FSBDC at UCF served almost 6500 entrepreneurs and small business owners through consulting and training, resulting in 9,961 Central Florida jobs created, retained or saved; $1.3 billion in sales growth; $50.4 million in capital formation; $104.6 million in government contract awards; and 108 new businesses started.

About the FSBDC Network

The FSBDC at UCF is a member of the Florida SBDC Network, a statewide service network funded in part through cooperative agreements with the U.S. Small Business Administration, Defense Logistics Agency, State of Florida and other private and public partners. The Florida SBDC Network is hosted by the University of West Florida and is nationally accredited by the Association of SBDCs. All opinions, conclusions or recommendations expressed are those of the author(s) and do not necessarily reflect the views of the SBA.

For over 35 years, the FSBDC Network has nourished a statewide partnership between higher education and economic development organizations, dedicated to providing emerging and established business owners with management and technical assistance, enabling overall growth and increased profitability for the businesses and economic prosperity for the state. The FSBDC Network is a statewide service system of 41 centers with 60 outreach locations, including the FSBDC at UCF.

In 2012, the Florida SBDCs served approximately 38,000 entrepreneurs and small business owners through consulting and training, resulting in 47,845 jobs created, retained and saved; $6.3 billion in sales growth; $235.2 million in capital accessed; $588.4 million in government contract awards; and 744 new businesses started. And, for every $1 of Florida public and private sector investment in the FSBDC programing 2012, $40 was returned to the state in tax revenue

FSBDC at UCF | 3201 E. Colonial Drive | Orlando, FL 32801 | p 407.420.4850 | f 407.420.4862
sbdc@bus.ucf.edu | www.sbdcorlando.com

FSBDC, UCF, Business Consulting

Florida SBDC at UCF Lake County Mentors American Backflow Testing, Inc.’s Growth

Assists Company in Obtaining Capital and Customers

March 5, 2014

FOR IMMEDIATE RELEASE

Contact: Hal Thayer, Communications Director, FSBDC at UCF, 407.420.4850 or hthayer@bus.ucf.edu

Orlando, FL –  Like many business owners, Gary Gamache, the president and CEO of American Backflow Testing, Inc., was looking for ways to grow his business. He understood that growth costs money and sought out the Florida SBDC at UCF (FSBDC) in Lake County for assistance in securing bank financing. His goal was to obtain a $50,000 line of credit to better manage the cash flow in his business and have funds to expand the business into additional business opportunities.

Gary first came to SBDC in January 2013 when he attended the Business Plan Writing Made Easy class taught by Stan Austin, a certified business consultant at the FSBDC in Lake County.  Shortly after the seminar, Stan started working with Gary to put together the business plan he would need to win approval of his bank loan application.

Through the summer Stan and Gary revised multiple iterations of his business plan.  By early fall, Gary was ready for a final printing.  The plan was printed for him in the FSBDC in Lake County’s office and bound with a comb binder.  Gary then approached several banks seeking a line of credit for his business.  Gary obtained a $50,000 line of credit with a bank in December 2013.

At the same time Gary was preparing his business plan, he began looking for new customers. One of the areas Gary has had business success is with local cities that need backflow testing done on a scheduled basis.  Stan introduced Gary to Derek Hudson, a CBA and member of the FSBDC’s Government Contracting unit [formerly its Procurement Technical Assistance Center – (PTAC)].  Gary attended all the Government Contracting classes available to better understand the “ins and outs” of working with government entities.  He immediately put to use what he had learned by winning business at another city by “piggy backing” on an already in place municipal contract he had with a city in the same area.

So it was that, once Gary had his credit line in hand, he was in a position to finance servicing new customers and better manage his cash flow. In Gary’s business, managing the payroll can put a strain on cash flow.  He must pay his employees for the tests they perform immediately, even though there is a lag in time before Gary is paid by his clients.  In addition, if Gary is to capitalize on the growth opportunities his national account clients are offering him, he needed operating capital to set up a larger support organization to manage the additional backflow testing calls.  The additional workload also would require him to add personnel in the office to manage the necessary paperwork for billing the clients, paying the subcontractors and recording the information regarding the backflow tests with the correct water authorities in each local municipality.

With the credit line in place, Gary was able to grow his business with a few major accounts and with local municipalities.  Gary has transitioned his personnel from using 3 subcontractors in 2013 to adding permanent employees in 2014.  He now has two permanent office administrators and three employees conducting backflow tests.  In May, he projects hiring one more field employee.

Two of his major accounts are now asking Gary to expand his testing operations to states other than Florida.  In addition, now that he has a solid working model for managing major accounts, he is actively pursuing additional major accounts with multiple locations.

Over the past year, Gary and Stan have enjoyed building a professional and personal relationship.  Gary counts on him and Derek Hudson personally to help him as he continues to grow his business.  He is also relying on Stan to continue to direct him to other resources within Florida SBDC when need be. “The FSBDC in Lake County has been an invaluable resource to me and my business,’ says Gary. “They have mentored and coached me on how to better manage and grow my business. Companies in Lake County are making a mistake not to take advantage of their amazing, no-cost consulting, training and support.”

— FSBDC —

About the FSBDC at UCF

With its main office in the National Entrepreneur Center located at the Fashion Square Mall in Orlando, the SBDC at the University of Central Florida (FSBDC at UCF) is part of the UCF Office of Research & Commercialization and the Florida SBDC Network (FSBDC Network). THE FSBDC at UCF provides business seminars and no-cost, one-on-one business consultation to emerging and established businesses. The FSBDC at UCF serves an eight-county area that includes Brevard, Flagler, Lake, Orange, Osceola, Seminole, Sumter, and Volusia counties and maintains 10 service centers across Central Florida.

In 2012, the FSBDC at UCF served almost 6500 entrepreneurs and small business owners through consulting and training, resulting in 9,961 Central Florida jobs created, retained or saved; $1.3 billion in sales growth; $50.4 million in capital formation; $104.6 million in government contract awards; and 108 new businesses started.

About the FSBDC Network

The FSBDC at UCF is a member of the Florida SBDC Network, a statewide service network funded in part through cooperative agreements with the U.S. Small Business Administration, Defense Logistics Agency, State of Florida and other private and public partners. The Florida SBDC Network is hosted by the University of West Florida and is nationally accredited by the Association of SBDCs. All opinions, conclusions or recommendations expressed are those of the author(s) and do not necessarily reflect the views of the SBA.

For over 35 years, the FSBDC Network has nourished a statewide partnership between higher education and economic development organizations, dedicated to providing emerging and established business owners with management and technical assistance, enabling overall growth and increased profitability for the businesses and economic prosperity for the state. The FSBDC Network is a statewide service system of 41 centers with 60 outreach locations, including the FSBDC at UCF.

In 2012, the Florida SBDCs served approximately 38,000 entrepreneurs and small business owners through consulting and training, resulting in 47,845 jobs created, retained and saved; $6.3 billion in sales growth; $235.2 million in capital accessed; $588.4 million in government contract awards; and 744 new businesses started. And, for every $1 of Florida public and private sector investment in the FSBDC programing 2012, $40 was returned to the state in tax revenue

FSBDC at UCF | 3201 E. Colonial Drive | Orlando, FL 32801 | p 407.420.4850 | f 407.420.4862
sbdc@bus.ucf.edu | www.sbdcorlando.com

FSBDC, UCF, Business Consulting

Florida SBDC at UCF’s CEO XChange Assists Local Firm Meet the Challenges of the Great Recession

Architectural Aluminum Techniques Survives Downturn to Prosper

February 17, 2014

FOR IMMEDIATE RELEASE

Contact: Hal Thayer, Communications Director, FSBDC at UCF, 407.420.4850 or hthayer@bus.ucf.edu

Orlando, FL –  The Great Recession of the last decade took a severe toll on the construction industry in Florida. It forced many construction companies and those that supplied them out of business. It took courage and foresight, and a certain white-knuckle fearlessness, to weather the storm and come out whole on the other side. But for those that did survive, and were able to keep their core intact and maintain their reputation, there has been significant opportunity in recent years.

Architectural Aluminum Techniques (AAT) and its CEO and owner Sunil Tarneja weathered just such a storm and, with the help of his wife and CFO Sujata, key members of his management team and a group of CEOs brought together by the Florida SBDC at UCF in its CEO XChange program, he navigated the company through the Great Recession and on to a record year in 2013 when it recorded a 200% increase in revenues.

AAT is a sub-contractor to construction companies. It supplies architectural aluminum and steel engineered glazing systems that are often integral to the architectural style of an office building. They also often produce the materials that make up the unique architectural elements that make a building distinctive and memorable, such as the a 10,000 square foot outdoor balcony structure that juts from the Amway Center toward I-4 in Orlando, Florida, the Center’s 20,000 square foot glass entrance atrium facing Church Street or the modern glass and aluminum of the iconic UCF College of Medicine building. Architectural Aluminum Techniques had a hand in the construction of each of those remarkable buildings.

Founded in 1992 when Sunil and Sujata moved to Orlando from Toronto, Canada, AAT was built from a standing start, competitive bid by competitive bid. The company achieved break even in 1996 and enjoyed positive growth and profitability in the following years. They grew to be a multi-million dollar business with upward to 90 employees by 2009.

AAT was a success story indeed. Until the Great Recession hit, that is. Commercial construction tends to lag residential construction and when Sunil saw the dramatic decline in residential building activity in 2009, he knew there was trouble around the corner. Having felt the pain of the 1990 recession in Canada, he was prepared to do what was needed to save his company. In 2010 he slowly began downsizing the company, releasing good people because there was no work. 2011 was no better for AAT and the downsizing continued.

By 2012, Architectural Aluminum Techniques was down to its core team of 20 employees. For many of them, there was no work. Revenues had fallen precipitously to the point where they did not cover payroll. The times were dark and the future looked bleak.

Fortunately, Sunil had learned from his experience during the Canadian recession, and had always run AAT very conservatively, making sure that it was financially strong with adequate cash on hand at all times. During 2012 he had to use some of those cash resources to make payroll. And he led an “all hands on deck” sales effort during the down times, having all of his employees calling clients and bidding on almost any deal they found.

It was during these difficult times in mid-2012 that Sunil brought his challenges to the Florida SBDC at UCF’s CEO XChange program. An executive roundtable program serving progressive chief executives and business owners, CEO XChange offers a confidential setting to discuss vital business issues, opportunities and trends with a group of peers and benefit from their experience and counsel.

 

At the CEO XChange meeting, Sunil laid out his issues; he had battened down the hatches, cut overhead, downsized to his core employees but was still bleeding money. His inclination was to hold on for as long as was necessary, but he wanted to hear from his peers about what they thought. An intense discussion ensued. Hard questions were asked. Painful experiences were shared. In the end, the group’s consensus was that Sunil should follow his instincts and experience, hold onto his core people and ride out the storm.

 

Buoyed by this vote of confidence,  Sunil determined to stay the course. He retained his core team and continued to have everyone in the company pursue sales opportunities. Several months later, the construction market turned the corner. The Presidential elections seemed to be a turning point, as suddenly money for construction projects began to pour into the market. Architectural Aluminum Techniques began to win bids. They found that their strong reputation for quality products, the industry’s familiarity with AAT and its people and its financial staying power combined to help the company win business, even though theirs was not always the low bid. As a result, while the company endured a loss for 2012, it experienced a dramatic increase in revenues for 2013 which has turned into one of the company’s best years yet.

 

While Sunil recognizes that there were many factors that got him and Architectural Aluminum Techniques through the Great Recession, he acknowledges his CEO XChange experience as having made an important contribution. “The CEO XChange was of great value to me when I needed it. The other executives shared their experiences – good and bad, provided clear-eyed analysis of the problem and offered honest feedback and suggestions.  They didn’t tell me what I wanted to hear the way an employee might and didn’t bring their self-interest to the problem. My company and I benefited greatly from the input of the CEO XChange members,” Sunil said.

 

— FSBDC —

About the FSBDC at UCF

With its main office in the National Entrepreneur Center located at the Fashion Square Mall in Orlando, the SBDC at the University of Central Florida (FSBDC at UCF) is part of the UCF Office of Research & Commercialization and the Florida SBDC Network (FSBDC Network). THE FSBDC at UCF provides business seminars and no-cost, one-on-one business consultation to emerging and established businesses. The FSBDC at UCF serves an eight-county area that includes Brevard, Flagler, Lake, Orange, Osceola, Seminole, Sumter, and Volusia counties and maintains 10 service centers across Central Florida.

In 2012, the FSBDC at UCF served almost 6500 entrepreneurs and small business owners through consulting and training, resulting in 9,961 Central Florida jobs created, retained or saved; $1.3 billion in sales growth; $50.4 million in capital formation; $104.6 million in government contract awards; and 108 new businesses started.

About the FSBDC Network

The FSBDC at UCF is a member of the Florida SBDC Network, a statewide service network funded in part through cooperative agreements with the U.S. Small Business Administration, Defense Logistics Agency, State of Florida and other private and public partners. The Florida SBDC Network is hosted by the University of West Florida and is nationally accredited by the Association of SBDCs. All opinions, conclusions or recommendations expressed are those of the author(s) and do not necessarily reflect the views of the SBA.

For over 35 years, the FSBDC Network has nourished a statewide partnership between higher education and economic development organizations, dedicated to providing emerging and established business owners with management and technical assistance, enabling overall growth and increased profitability for the businesses and economic prosperity for the state. The FSBDC Network is a statewide service system of 41 centers with 60 outreach locations, including the FSBDC at UCF.

In 2012, the Florida SBDCs served approximately 38,000 entrepreneurs and small business owners through consulting and training, resulting in 47,845 jobs created, retained and saved; $6.3 billion in sales growth; $235.2 million in capital accessed; $588.4 million in government contract awards; and 744 new businesses started. And, for every $1 of Florida public and private sector investment in the FSBDC programing 2012, $40 was returned to the state in tax revenue

FSBDC at UCF | 3201 E. Colonial Drive | Orlando, FL 32801 | p 407.420.4850 | f 407.420.4862
sbdc@bus.ucf.edu | www.sbdcorlando.com