Terra Olson worked for a high end salon and spa in Portland for years, but knew that there were other opportunities out there. One opportunity she noted was the lack of a high end salon south of Portland. She went to the Maine SBDC office in Saco and met with Business Advisor Steve Lovejoy. That was the beginning of Tulu Salon & Spa on Main Street in Biddeford. Olson worked with Lovejoy to develop the plans for the new salon. Read More
Client Highlight: Tulu Salon & Spa
Client Highlight: XPress Copy – Portland
In July 2016, Todd Kent came into see Maine SBDC Business Advisor Steve Lovejoy looking to purchase XPress Copy, an independent printing and copying shop in Portland that’s been in business since 1978. When the current owner decided to retire, he turned to Kent to take over and purchase the business. Kent had been an employee for over 25 years and had been managing the business.
Lovejoy helped Kent with his business plan and financial analysis and projections for the purchase of the business. He helped connect him with Bangor Savings Bank, where he presented his business plan. Kent obtained his financing, and took over ownership in October 2016. Read More
Client Highlight: Verona Wine and Design
When Colleen and Michael Gross of Verona Island originally came to see Business Advisor Betty Egner, they had owned their business, Verona Wine and Design, for two years. Already successful in their current format, an online business selling items made from repurposed wine barrels, they wanted to expand on their love for wine and wine-inspired items – they wanted to open a retail wine shop and a wine and tapas bar on Main Street in Bucksport.
Business Highlight: The Local Variety – Bucksport
The Local Variety
is located in the heart of downtown Bucksport, a former mill town with new energy and life. When the current owners decided to put the business up for sale, Jessica Carter jumped at the opportunity to own this downtown café in the town that she loves. Although she had little experience in the restaurant industry, she had a vision for the store and sought out Maine SBDC Business Advisor Betty Egner for help turning that dream into reality.
“Betty helped me so much in areas where I really had no idea where to start,” Carter states. “She walked me through the bigger picture as well as many of the fine details, helped me with a business plan and assisted me in finding the financing to make this happen.”Read More
Business Highlight: Halcyon Yarn – Bath
Halcyon Yarn, a yarn and fiber art retail and catalogue store located in Bath, has been in business for over 45 years, serving the needs of weavers, knitters, spinners and other fiber artists. When the founder Halcyon Blake decided it was time to retire, her daughter Gretchen Jaeger sought to buy the business and keep it in the family.
MaineBiz: Buyer of Portage Lakeside Cabins converting seasonal business into four-season resort
PORTAGE LAKE — An Aroostook County native and former marine said her purchase of Portage Lakeside Cabins, not far from her childhood stomping grounds, fulfills her longtime dream for a business while allowing her to raise her children in a region she loves.
In a transaction finalized Sept. 13, Shannon Currier purchased the business for $250,000. It’s located at 4 Almond Drive with easy access from Route 11 and includes a single-family cottage, four small cabins, bathhouse and garage sitting on 2.7 acres with 420 feet of lake frontage. The seller was Laura Bouchard, according to the Caribou-based Northern Maine Development Commission’s business finance division, which helped Currier finance the purchase.
Currier credited Joshua Nadeau, director of NMDC’s small business development center, and the center’s loan officer David Spooner with providing helpful business counseling as she considered the acquisition.
Read the full story here.
Business Highlight: EterNav – Verona Island
Kasey Smith, founder of EterNav, wants to change the funeral and death care industry.
With a background in technology startups and personal experience dealing with loss, she saw an opportunity to help those experiencing one of life’s toughest challenges, navigating the unexpected loss of a loved one.
She has created 21st century technical tools and a step by step process that helps guide families through the practical tasks and action steps that follow the loss of a loved one. Her solution, called EterNav (short for eternal navigation), offers affordable, personalized and convenient bereavement solutions — working either with and without a funeral home.Read More
Business Highlight: Aroostook Driving School – Caribou
When Ryan Deprey and Todd Albert, well known teachers and coaches in the local school system, heard that one of the longstanding driving schools in Caribou was closing due to retirement, they saw an opportunity. The pair approached Josh Nadeau, Maine SBDC business advisor at Northern Maine Development Commission (NMDC), to take advantage of that opportunity – to start a driving school business.Read More
Business Highlight: Autotronics – Frenchville & Bangor
Autotronics, a family-owned business that specializes in the building and restoration of emergency vehicles, has been in business since 1958 and serves customers within Maine, New England and even internationally. Business Owner Lita Daigle approached Maine SBDC Business Advisor Josh Nadeau looking for help in restructuring some current loans as well as obtaining funds to help build a new state of the art paint facility at their headquarters in Frenchville, Maine.
Business Highlight: Lost Valley – Auburn
Lost Valley, a small ski area located in Auburn, Maine, has been a staple of the area since 1961. The first ski area in Maine to make artificial snow, the business features 15 trails and a terrain park, offering something for skiers of all abilities. It also boasts one of the largest ski schools in Maine.
When the potential for purchasing the business arose, Scott Shanaman and his wife April jumped at the opportunity. Familiar with the ski industry (they also own and run a ski lift maintenance business) but seeking guidance on obtaining financing and executing the purchase, they reached out to Jane Mickeriz, Maine SBDC business advisor at the Androscoggin Valley Council of Governments (AVCOG). Together they spent many hours working on a business plan, financial projections and loan packaging which Shanaman presented to several banks.