Success is defined by you.
Your goals, your dreams and your path. We stand prepared to assist you in that process. Visit the websites of veteran and military families like you who have decided to start or expand their business with our assistance.
Check out the Veteran owned businesses that have sought help from our experts!
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Jumpstart Your Woman Owned Small Business
Below is a few of our recent Case Studies outlining how the VBRC was able to work with our client to enable them to achieve through Strengthening America Through Entrepreneurship.
Army veteran Chris Daming began working with the Center in August of 2017 wanting advise on his small business plan and recommendations for improving his pitch. Chris had applied for some pitch competitions and grants and wanted our consultants to review and revise with him. After speaking with the Senior Business Consultant, he forwarded his plan and pitch for feedback. Damon spent the next several months with Chris discussing his pricing structure, messaging and long term strategy.
Results: After working with the Center for about 8 months, Chris and Lauren launched Legal GPS, a proactive all-in-one legal technology app for entrepreneurs. They recently hired on another successful small business attorney to be their Chief Content Officer and are growing steadily. Chris now attends the Veterans CEO Roundtable monthly to keep connected to other CEOs and keep his business moving.
Smart Start Learning Center and Childcare
Greg A., an Army veteran and his partner contacted the Center in April 2017. They were looking to purchase a learning and daycare center in Omaha,NE. They wanted help navigating the sales process and advice on funding and leasing.During the first conversations, the clients indicated that the terms of the purchase were pretty close to worked out. Damon discussed valuation and structuring the terms of the purchase agreement. An emphasis was put on ensuring there was a non-compete and consulting arrangement and that the assets/inventory were valued appropriately. They discussed business valuation, the purchase agreement was formulated and they reviewed it along with the financials. More discussions on leasing vs. buying and terms, ensuring that renewal increases were capped and getting the landlord to put forward some funds for leasehold improvements.
Results: An agreement was reached to eliminate the lease deposit and put that towards the improvements. They have a two-year lease with three and five year options. A final financing arrangement was worked out. Centrist Credit Union was chosen from among three offers. With a final purchase price the lender finances 77% of the deal, the seller 12% and the clients 10%. The bank valued the business at over $200K higher than the purchase price negotiated.
Damon and Margertha also discussed the importance of having professional help to navigate both the terms of purchase and their ongoing operations. They discussed getting accounting and legal help and the things to look for. They are in the process of gathering referrals and interviewing.
The next step will be working on a strategic plan for the business.
Adonis Electronics Recycling
Adonis Electronics Recycling – Mike Wichlan, Matt Primo, and Jim Adolfus
Damon met with Mike and Matt for the first time at the Center in November 2014. They indicated they were having problems with process and no capital. We felt they had a good business idea but were not executing very well. We identified the major issues and set about working them. They were probably a month or two from closing their doors at our first meeting.
RESULTS: Today, they have brought on a new partner (Jim) with a cash infusion and plans to invest $12.5K more. Matt is also investing another $12.5K. They have set up a retail space in their location. In addition, they have hired 3 new full time employees.
Blue Osprey Security
Blue Osprey Security – Darrel Shanks
Darrel contacted us in December 2014 and was pursuing a Vocational Rehabilitation Self Employment grant for $25,000. We reviewed the plan he had and put together a good plan with solid financials, competitive advantage, marketing, and strategy. It was forwarded with our recommendation for approval in January. As always, we are optimistic this will go through even though it was strongly related to fire arms which is usually something not funded by the VA. Their concern was it may be selling or manufacturing guns or ammunition.
UPDATE: Grant has been approved for $24,600 and is being disbursed. Looking at opening in April 2015. Will not have any immediate new hires as he will be a one man show at the beginning.