FSBDC, UCF, Business Consulting

FM Financial Services

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FM Financial Services, Inc. is a full-service consulting business providing book keeping and accounting, financial planning, investment and mortgage broker services to individuals and small businesses throughout Central Florida. Owned by Fozia Andarge, the company has been in business since 1992.

“The SBDC has been so helpful to my business because not only do I have a place to refer my clients for overall business assistance, the center has helped me grow my business and expand its service offerings. I really like Pauline’s common sense approach to business and her confidence that there is a solution to every problem.”

Fozia Andarge
FM Financial Services

In 1982, during a period of political upheaval in Ethiopia, Fozia left her native country and settled in the United States. Following the American dream, she attended University of Central Florida and graduated with a B.S. degree in Finance. Upon graduation, Fozia worked at an insurance company and then a stockbroker to gain valuable experience, as well as develop the foundation for her business. However, her ultimate dream was to be an independent business owner.

FM Financial Services has evolved over the years, at first financial products were the only services offered, but after careful planning and strategizing, Fozia recognized the need to diversify her offerings. From the beginning, Fozia sought the resources of the Small Business Development Center at UCF. She started meeting with CBA Pauline Davis in the early 90’s – when the business was just a dream and needed guidance through the business start-up process. Since that time, Fozia has contacted Pauline whenever she needed business assistance. Pauline’s business expertise and the resources of the SBDC at UCF get credit for her success. Fozia states, “The SBDC has been so helpful to my business because not only do I have a place to refer my clients for overall business assistance, the center has helped me grow my business and expand its service offerings. I really like Pauline‘s common sense approach to business and her confidence that there is a solution to every problem.”

Today, Fozia is very optimistic about the future of her business considering the economy. She understands the challenges as new rules and licensing requirements for accountants and mortgage brokers are developed. She considers herself a lifelong learner and understands what it takes to stay ahead of the competition. She is grateful to her clients that have stayed with her throughout the years. She also gives credit to her husband Haile, who helps her with technology and son Caleb who is a great motivator.

FSBDC, UCF, Business Consulting

Pegasus Transportation

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In 1994, Brazilian immigrant Fernando Pereira and three business partners formed VIP’s Jet Tours Corporation, conducting business under the company name ‘Pegasus Transportation.’ With minimal assets, Pegasus’ transportation services started with a simple 100 square-foot office, a 15-passenger van and just one driver. After the first year, Fernando bought his partners out and continued to run the business on his own with his wife, Claudia.

“The SBDC has been on our side since 2001 and we couldn’t be more thankful for it.”

Fernando Pereira
Pegasus Transportation

Despite many struggles over the past decade, Pegasus Transportation managed to grow and diversify. They now offer a variety of worry-free transportation services including itinerary planning, meet-and-greet services, luggage assistance, and on-site supervision. Today, Pegasus has 60 employees, 20 coach buses and two offices located in Orlando and Miami.

The impressive success of Pegasus Transportation is a story of both managing a business effectively and overcoming hardships successfully. The company’s first major challenge came when the travel industry collapsed as a result of the 9/11 disaster. Pegasus nearly disappeared. “Without SBDC assistance in obtaining the Economic Injury Disaster Loan (EIDL), we could not have survived,” said Fernando. As Pegasus got back on their feet, another disaster hit in 2004 when a series of hurricanes hit the state of Florida, causing Pegasus once again to turn to the SBDC assistance. Through Fernando’s determination, Pegasus was able to stay afloat with the receipt of two additional EIDL loans acquitted with assistance by the SBDC at UCF.

Finally and most recently, the domestic travel market’s decline in 2009 due to the nation’s weak economy took a toll on Pegasus. To overcome this ordeal, Pegasus successfully turned its focus to the international travel segment, compensating for the domestic downturn. This change in focus resulted in over a 300% increase in the company’s net income. With strong financial stability, Pegasus was approved for two SBA 504 Loans, enabling the company to expand its business into a new 3,000 square-foot office space, as well as an expansive 3,600 square-foot shop on 2.5 acres of property.

Over the past decade, Fernando and Claudia took advantage of many of the services offered by the SBDC at UCF including 10 years of in-depth business counseling, business training and skill development through the SBDC’s strategic workshop series and referral resource support through the SBDC’s Small Business Resource Network. “The SBDC at UCF was the key to our growth and success, not only giving alternatives to our business but also making available services that seemed only accessible to big corporations. The SBDC has helped us to overcome situations like September 11 and hurricanes and also helped us to obtain capital for the construction of our new facility,” said Claudia. Fernando added, “The SBDC has been on our side since 2001 and we couldn’t be more thankful for it.”

Kings Service Solutions

Kings Service Solutions

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In late 2009 Arnaldo and Yanet Herrero of Kings Service Solutions first approached the Small Business Development Center at UCF (SBDC at UCF) Advisory Board Council Program Manager Jill Kaufman about their interest in becoming a client of the program. Arnaldo had explained, “We want to begin taking the proper steps to become your next success story.”

It took them just three years to achieve this milestone. In that time their janitorial and commercial maintenance company has made a dramatic transformation and experienced extraordinary growth. According to Yanet, “I felt the SBDC at UCF was the right organization to pair up with to set our company’s vision on the right course. I wanted to assess the strengths and weaknesses of the company and have access to experts’ knowledge and ideas to develop our organization.”

In 2010, Kings Service Solutions (KSS) was accepted into the SBDC at UCF’s Advisory Board Council (ABC) program and an advisory board was formed to address the company’s needs. Experts in human resources, accounting, strategic marketing, business development and law comprised their board. “We had the best of the best on our advisory board team,” remarked Yanet.

Kings Service Solutions acted immediately on what they had learned. The board helped them put in place an organizational structure, systems and processes to better manage the company and facilitate their growth. “We learned how to make the organization’s mission and vision come alive and become part of the company culture,” explained Yanet. Among the biggest benefits coming out of the board’s recommendations included improved financial management, HR policies, quality control and risk management. “I started with an idea for what my business could be and by the end of the term in the ABC program it was so much more than I expected,” said Yanet. “The Advisory Board Council program gave me the tools to attain what I wanted for our company.”

Beginning with the simple idea of providing high quality and reliable commercial cleaning and facility maintenance services, KSS has grown to serve industry leading companies throughout the state of Florida such as Trustco Bank, Florida’s Blood Centers, and Lamm and Company Partners. KSS has instituted innovative business processes and the latest janitorial management software to increase their organization’s efficiency and quality control. In fact, KSS was recently chosen to be featured by MSNBC in a television segment on how technology is helping small companies.

When KSS became a client of the Advisory Board Council in early 2010, the firm had a staff of 6 full time and 37 part time employees and leased a 1,700 sq. ft. office. Just three years later KSS has grown to be a company of 87 full time and 162 part time employees. Annual revenue jumped 270% from 2010 to 2012 and the company now owns its 3,500 sq. ft. office and warehouse suite. Importantly, Arnaldo and Yanet also strongly believe in giving back to the community and KSS is a devoted supporter of a number of worthy organizations such as Boys and Girls Clubs of Central Florida.

On the strength of its founders’ determination and the external assistance they were savvy enough to bring in, including from SBDC at UCF’s Advisory Board Council program, Kings Service Solutions is now that “next success story” that they wanted to be. “I would recommend the Advisory Board Council to any entrepreneur that is ready to realize their vision,” remarked Yanet. “The process will transform your business culture and inevitably your business success.”