Abilene SBDC - Small Business Corner

Small Business Corner

February / 2007
Client Name:		Ed Wright
Company:		INcounters, Inc
Type of Business:		Countertop Manufacturing
SBDC Assistance:		Financial Analysis, Business Plan, SBA Loan,
Results:		Business Expansion
Employees Hired:		41 Full-time, 4 Part-time

INcounters, Inc., headquartered in Abilene, Texas, is a local manufacture and fabricator specializing in customized granite, quartz and other solid surface countertops. The company was founded by Ed Wright, President and Owner, in 1989. During the mid 1990s and during an incredible growth period of the business, the company got behind in some taxes. In order to cure the situation, Mr. Wright found two partners interested in partnering in this business. In return, the new partners took over 51% of the business leaving Mr. Wright with 49% ownership. They maintained steady growth and enjoyed greater financial performance. With Mr. Wright at the helm, the company has grown not only as a manufacturer / fabricator, but the company also has expanded into the retail business. INcounters currently has retail operations in Abilene, Wichita Falls, Midland, and Lubbock. This expansion has increased their labor force to 43 full time equivalent positions, 41 full time and 4 part time. In 2006, INcounters marked a record performance in sales by 12% and allowed Mr. Wright to buy out his two partners and take back the reigns to “his” company. Thus far, 2007 is on track for another record year. He approached the Texas Tech University SBDC – Abilene for a financial analysis and business plan to take to the bank for an SBA loan application. Not only did counselor Jared Bailey assist with the business counseling and business plan consultation and preparation, counselor Eugene Kiefer assisted the local bank with the SBA loan package preparation in order to expedite and streamline the loan application process. Since the approval of the $1,000,000 SBA loan, the company continues to work with the TTU SBDC – Abilene for financial analysis, future expansion plans, and is currently working with the Texas Manufacturing Assistance Center.

June / 2006
Client Name:		Perry, Pam & Ryan Stockard
Company:		Copper Creek Fine Texas Dining
Type of Business:		Restaurant
SBDC Assistance:		Business Plan
Results:		Start -Up Business
Employees Hired:		12 Full-time, 20 Part-time

The Stockards worked with the SBDC on their restaurant project & business plan for approximately three years before finally opening this year. Copper Creek Fine Texas Dining offers the highest quality food and service, with a perfect balance of mesquite-grilled steak and seafood. Guests enjoy plenty to eat and drink in a lively and festive atmosphere. Copper Creek Fine Texas Dining meets the growing demands for full service high quality dining in Abilene, Texas. As an added attraction, it further enhances the dining experience for visitors to the city, as well as local area guests.

June / 2006

Client Name:

Eth Hong

Company:

Hong's Martial Arts Institute

Type of Business:

Service

SBDC Assistance:

Business plan

Results:

Expansion

Employees Hired:

2 full-time, 4 part-time

Eth Hong worked for 4 years to make his plan for expansion of his martial arts business complete when he opened his new state of the art facility for martial arts instruction in Abilene, Texas. The SBDC provided him valuable assistance each step of the way beginning with the development of a business plan, and culminating in the grand opening of his new facility, offering premier martial arts instruction of several styles of martial art & self defense, along with after school programs & summer camps.

February / 2004
Client Name:		Iraj Agahi
Company:		Wing Stop
Type of Business:		Fast food, primarily chicken wings
SBDC Assistance:		Business Plan and consultation
Results:		Established new business
Employees Hired:		1 Full-time (owner); 10 part-time initially

Mr. Agahi overcame numerous obstacles during the 28 months from his initial SBDC visit to the establishment of his business. Mr. Agahi met with SBDC personnel personally and by telephone frequently as obstacles were encountered and then overcome. SBDC first assisted Mr. Agahi in revising the material he had assembled into a business plan format suited to local financing sources, and prepared primary and alternate versions of cash flow projections and pro-forma statements for the business plan’s financial section. The business plan was utilized in resolving financing issues which threatened to derail the project. A franchise requirement in conflict with state regulations unexpectedly surfaced at the last minute, but it was resolved satisfactorily. The hours of operation and location of Mr. Agahi’s business may appear unusual, but they were set and chosen with the business’ target market specifically in mind. The hours are 4pm to midnight; the location is next door to a Blockbuster. The primary version of Mr. Agahi’s business plan projected sales of $480,000 for the first year.