Archive for category: Success Stories

Allen Shuffleboard of Pinellas County

Allen Shuffleboard, the primary manufacturer of shuffleboard equipment in the United States, has been in business since 1941. But three years ago, the owners decided to make their family friends a proposition – to purchase their business.

Stephanie Swain and Josh Dulabaum thought the idea was a little crazy at first, as they both had full-time jobs and careers of their own, but the couple eventually realized they couldn’t pass the opportunity up to purchase the Seminole-based business.

“I left my career and ended up working as an apprentice,” Dulabaum said. “I learned all about how the business was run directly from the owners. Then, in May, Stephanie made the transition over.”

Despite their eagerness to purchase the business, Dulabaum and Swain realized that they needed some guidance through the purchasing process.

“As we were approaching the actual purchase of the business, we had questions about government contracting and other government grants that might be available to us,” Swain said. “I called around quite a few places, and finally found the Florida SBDC at Pinellas County [PCED]. I spoke with Yolanda over there, and she was able to answer all of the questions that I had. She was so helpful that whenever we ran into an issue with financing, I called her back to see if she had any contacts. That’s when she sent me to Deb. Deb looked at our business plan, and we were so lucky to find them when we did.”

Debra Schweikowsky a business consultant for the Florida SBDC at PCED, assisted the duo in building their business plan and gave them financial guidance, including recommending some lenders that might help fund their purchase. This led to the couple getting partially financed through Pilot Bank.

Swain and Dulabaum are excited to be moving in the right direction just six months into being the owners. Even with the impact COVID-19 has had on many businesses, the pair has already pivoted with online sales.

“COVID-19 was interesting,” Swain said. “We’ve been still kind of recovering, but we were able to bring back some of the staff that had been let go when the economy was so uncertain, and we’ve actually been able to hire additional staff. We’re also starting to see the return of indoor shuffleboard, so that’s really exciting for us.”

Both Swain and Dulabaum are grateful that they contacted the Florida SBDC at PCED when they did.

“I think we’re really lucky that we found them because they have a wealth of knowledge. They’ve worked with so many different companies in different industries. There’s no playbook when it comes to acquiring a business it turns out, so having someone help us handle it is huge,” Swain said.

Moving forward, Swain and Dulabaum are excited to utilize the resources available to further grow the business.

“As we continue to grow, I know that we’re going to have additional questions,” Swain said. “In the future we’re going to need to purchase a building, and I know that I am going to have the resources to reach out to someone who knows how to do that when the time comes. When I have questions about what I need to have prepared and what I need to think about as far as when we’re making the actual purchase, I will not hesitate to reach out to the SBDC.

“I’m so excited to have that resource available. It just makes the steps of being a new business owner so much easier to know that we’re not alone.”

LoweGear Printing Inc. of Hillsborough County

In 2007, Cotton Lowe was working as a high-end men’s fashion designer in New York City. Although he enjoyed his job, he felt as though there was something missing in his life. He decided to request a transfer within the company to Tampa, where he found the keys to unlock the door to his future.

Shortly after relocating, Cotton began the process of becoming a middle school teacher. He knew he wanted to make a difference, and felt it was the job to do just that. But in December 2008, Cotton met his wife, Leah, after a church meeting and together they discovered a need within their community.

“I received a call from my brother-in-law, who was the president of his local youth baseball organization” Cotton said. “The organization had about 2,000 kids that needed shirts to be made. He asked me if I could come up with a design for them to use for the league’s shirts. I did that, and he then asked if I could orchestrate the development and production with a local vender. I was able to negotiate a good price and realized there was money to be made doing this.”

That’s when the couple decided to create LoweGear Printing Inc., a company that provides printing, promotional products, and various clothing items to businesses, schools, sports teams, and more. Leah adds that what makes their business different is that they serve as a “one-stop shop” for clients, creating custom plans for their success.

While the business was established in 2010, the duo encountered some difficulties from the start, like many other new business owners.

“There have been many ups and downs, trials and tribulations, success and failures along the way,” Cotton said. “If I would have known about the SBDC during my start-up years, I could have avoided many of these harsh times through the wonderful and knowledgeable council they bring. I could have received the type of advice that a first-time business owner needs to protect his investment and be profitable.”

The couple reached out to the Florida SBDC at University of South Florida during the pandemic, in November 2020.

Thankfully, Cotton was able to get in contact with business consultant Bradley Mix.

“He has been my representative and he has been wonderful to work with. He has provided council on several different loan options for my building purchase, and was able to save us over $150,000 in interest rates and fees over the course of the loan. The Florida SBDC at USF has also assisted me in receiving and granting forgiveness on the PPP loan,” he said.

The Paycheck Protection Program loan was an important asset for the Lowe’s as they tried to protect their more than 30 employees throughout the COVID-19 pandemic.

Cotton and Leah are looking forward to what’s to come for their business. The next project for the duo and their consultant is the Growth Acceleration service. “What’s nice about the acceleration program is that our ideas are not just going to be ideas,” Leah said. “They’re going to be executed in a formative way without all the hiccups that we had. [I’m] so excited to know that we’re not going to have to make these mistakes again.”

The Growth Acceleration service assists business owners in uncovering hidden profits, finding new market opportunities, and sustaining growth for long-term success.

“We are excited to work with such great council and help make our dreams and aspirations become a reality,” Cotton said. “It takes a village to run a business, but it takes council like the SBDC provides to help a company become successful. We know with their help we can bring further jobs to our area and nation. We hope and pray that our work can change the world for better.”

The Elevating Group of Pasco County

After helping a family member with the financials for his construction company, Carter Contracting Group, Nicole Carter realized she had a knack for bookkeeping. As more and more people began to reach out to her for help, Carter decided to use her skills to start something new – a business that provides bookkeeping and insurance planning services for entrepreneurs and construction industry professionals.

Although Carter was ready to utilize her skills to help people, she knew that she needed a business plan and strategy to ensure that she could do just that.

“Initially, I reached out to the Florida SBDC at USF simply because I started my business at the beginning of COVID, and I didn’t have a structured plan of action,” she said. “I knew how to do the job, but I didn’t know how to run a business at all.” That’s when Carter found Christine Jaros, a business consultant with the Florida SBDC at University of South Florida.

Jaros was able to help Carter put together a business plan from start to finish, along with financial projections and got her involved in the Profit Mastery program.

“My business has grown since working with Florida SBDC and Christine by allowing more customers to come in because she actually got me a Spectrum commercial which brought in a lot more attention to my website,” Carter said. “She also connected me with the Pasco Smartstart program through which I was able to obtain a microloan.”

The Pasco Smartstart microloan enabled Carter to market her business further and reach new clientele.

While The Elevating Group is a relatively new business, COVID-19 has still had an effect. “Due to COVID, some investors that I had that were initially going to give me seed money, weren’t able to invest in my business,” Carter said. “So, that kind of took me back a little bit because I wasn’t sure what to do from there.”

Jaros assisted by introducing Carter to the Paycheck Protection Program and other U.S. Small Business Administration programs that may be available to her. “She helped make sure that I qualified and how to actually pursue it,” Carter said. Carter did receive a PPP loan.

Moving forward, Carter plans on continuing to utilize the no-cost consulting services from the Florida SBDC at USF to ensure that her business is successful for years to come. “They have people who have had their own businesses, and they’ve been in business for a long time,” she said. “They know the ups, they know the downs, and they’ll definitely get you through your hurdles.”