Company reaches out to SBDC to manage growth
Ferrera Tooling of Polk County
Tyler Stagner, General Manager of Ferrera Tooling in Lakeland, knew the company needed something to help manage expected growth. While at a Polk Manufacturing Association meeting, he met Javier Marin and Carl Hadden, certified business consultants with the Florida SBDC at University of South Florida. The two were giving a presentation to the group regarding the FSBDC at USF services.
“It really seemed like something that could be beneficial to us,” Stagner said. “I knew we were expecting a large growth path here in the next few years and I really felt we could use some guidance from someone who’s been there.”
Ferrera Tooling is a tool and die machine shop specializing in the blow mold industry. The blow mold industry makes plastic containers. Ferrera manufactures the tooling for the companies that manufacture plastic bottles.
Stagner reached out to Marin to find out more about the Growth Acceleration Services offered by the Florida SBDC at USF. Marin has since completed an in-depth business assessment, with the assistance of additional certified business consultants at the FSBDC at USF. The assessment included a review of the financials, Website analysis and industry research. The results of the assessment were then presented to the management at Ferrera Tooling.
“On paper, I guess we are a very good looking company,” Stagner said. “Javier explained that we were in the higher percentiles among our peers. I really wasn’t expecting that.”
“In general, we found that the company is in a growth stage,” Marin said. He offered recommendations to assist Ferrera Tooling in continuing to grow in the right way, and Stagner is thrilled to have a continued working relationship with the FSBDC at USF.
“We’re just now starting this adventure here but just the little bit I’ve gotten so far is really going to help us in the future,” he said. “It’s going to be a long-term relationship and I’m looking forward to being able to grow with them.”
In the coming months, Marin and a team of certified business consultants will help the management team at Ferrera Tooling implement the recommendations offered in the report, which include a marketing plan and a succession plan.
“Just the report along is enough but instead of it being just a report,” Stagner said, “it’s a hands-on, in-depth process and they’ll hold your hand to make sure your company grows and gets what it needs to be profitable.”
Stagner also said that he realizes he wouldn’t have known about the SBDC without being active in the Polk Manufacturing Association.
“Had I not been at that meeting, I wouldn’t know about the SBDC. I really feel that there are a lot of companies out there that are searching for this type of help but think it’s going to cost too much money. It’s nice to know that this is available free of charge.”
