unleashing
national impact
igniting local
transformation
Odette Charlery, owner of Sprouts Nursery Playschool, LLC, faced two key challenges in bringing her innovative childcare vision to life: developing a robust business plan and securing the necessary funding. Her goal was to create a unique, Montessori-inspired childcare environment after realizing the gap in quality early education options for her child. With limited resources and the daunting process of turning a basement into a functional learning space, Odette sought guidance on financial planning, risk assessment, and the complex steps of starting her own business.
"You Gain a Lot of Insights from Working with Professional People from CTSBDC. I Just Started with an Idea but Didn't Know What I Was Doing. CTSBDC Helped Bring That Idea to Life. People Should Get Professional Help Starting a Business, No Matter How Small It Is."
CTSBDC business advisor Michelle Augustyn played an instrumental role in guiding Odette from concept to reality. Michelle helped Odette refine her business plan and create financial projections, a crucial step in securing a $20,000 line of credit from Key Bank. Additionally, she demonstrated their commitment by investing $12,000 of her own. Recognizing the challenges of obtaining commercial space as a startup, Odette adapted her plan, transforming her finished basement into a welcoming preschool with outdoor play in her fenced backyard. Michelle's ongoing support and insights enabled Odette to build confidence, scale her ideas, and launch her business in a sustainable way. Within its first week, Sprouts Nursery Playschool was at full capacity, with a waiting list and a thriving learning environment that reflects Odette's passion and vision for early childhood education.
Since opening in November 2023, Sprouts Nursery Playschool, LLC has achieved significant milestones, including operating at full capacity with a waiting list from its first week. The business has grown to employ three staff members, providing quality early childhood education through a Montessori approach emphasizing hands-on learning. Children at Sprouts are thriving as they explore colors, numbers, letters, social and emotional skills, and subjects like nature and science. Odette's vision of fostering a love for learning has become a reality, with parents eager to enroll their children. Looking ahead, Odette is excited to expand Sprouts Nursery Playschool, with a second location opening in December 2024 in the Black Rock neighborhood of Bridgeport. This new facility will allow her to continue growing her dream of positively impacting young lives in the community.
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Prism Specialties of Hartford, Springfield, and Providence provides high-quality restoration services across Connecticut, specializing in restoring electronics, art, and textiles after disasters. As Ronald and Cristine Kern embarked on growing their business, they faced the complex challenges of accessing capital, managing workforce demands, and navigating economic impacts, including those brought on by COVID-19. To sustain and expand their operations, they needed funding for essential vehicles and equipment, allowing them to tackle larger projects and meet increasing client demands. Recognizing the value of expert guidance, they turned to CTSBDC for support and strategic direction.
"The CTSBDC is a Broad and Deep Resource Pool Capable of Helping with Any Aspect of Business."
In a relationship that has spanned several years, CTSBDC advisor Shelly Koehler has been a vital partner in Prism Specialties' journey, providing insight into financial planning, funding access, and sustainable growth strategies. The Kerns consider Shelly not only an advisor but a trusted friend and sounding board.
Shelly's deep knowledge of business finance enabled the Kerns to secure a $1.2 million SBA 7a loan from Live Oak Bank to purchase their previously leased building, strengthening their business's foundation. Shelly also connected the Kerns with valuable financial resources that enabled their growth. Notable achievements include securing a $130K state loan and a $70K grant in 2014, followed by a $100K line of credit from Berkshire Bank in 2015, and an SBA 504 asset purchase in 2017.
These strategic investments, coupled with Shelly's guidance, contributed to a 13.5% increase in sales from 2021 to 2022, positioning Prism Specialties for continued success. This ensured they had the capital needed for equipment, workforce expansion, and operational resilience.
"Shelly has provided us with a clear understanding of the health of our business, guiding us through key financial insights and helping us identify programs and opportunities available to support our growth," highlights Cristine Kern.
With CTSBDC's assistance, Prism Specialties has grown, with annual sales reaching $1.1 million in 2023. The Kerns' business has maintained all nine original employees since its inception, showcasing stability and growth. Reflecting on their partnership with CTSBDC, Ronald and Cristine credit Shelly's guidance as transformative, helping them turn their vision of quality restoration services into a sustainable legacy poised for continued growth. Cristine Kern adds, "The future looks great with us expanding our service area and continuing to grow."
"Over the past decade, Ron and Cristine, a husband-and-wife team, have built more than just a restoration business—they've built a legacy. By harnessing their resources, staying true to their values, and delivering unmatched quality, they have transformed their passion into a million-dollar enterprise known for professionalism and excellence in every project," offered Shelly.
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Frank Sgammato founded Stingers Indoor Golf in New Britain, Connecticut, driven by his deep love for the sport and his ambition to create a career around golf. As a first-time entrepreneur, Frank encountered numerous challenges while building his business. Navigating unfamiliar territory, he sought help from CTSBDC for guidance on everything from business planning to securing capital. "This was my first time doing anything like this," he says. Frank envisioned an innovative facility where golfers could play all year, regardless of weather, but needed support to bring his vision to life. Establishing a strong foundation required assistance in financial projections, marketing strategy, and operational planning, which he found essential as a new business owner.
"My Experience Working with CTSBDC Has Been Overwhelmingly Positive: Denise Whitford, a CTSBDC Business Advisor, Is Great to Work With and Has Lots of Great Ideas"
With CTSBDC's support, Frank collaborated with advisor Denise Whitford to develop a business plan and create accurate financial projections, which enabled him to secure a $200,000 SBA 7(a) loan from the Community Investment Corporation (CIC), along with a $45,000 equity infusion from Frank himself. Denise also helped Frank build a targeted marketing strategy, focusing on digital channels like Google, Facebook, and email campaigns. Her guidance continued on other topics: she provided crucial advice on permits, facility build-out, and selecting the ideal POS system.
Since working with CTSBDC, Frank has learned a critical lesson: the importance of setting everything up properly, even before opening. "The guidance from CTSBDC Business Advisor Denise Whitford was crucial," he explains. As Stingers prepares to expand its community involvement through partnerships with local schools and corporate events, Denise continues to support Frank's growth strategies, including launching a mobile simulator to attract customers during off-season months.
Thanks to CTSBDC's guidance, Stingers Indoor Golf achieved a remarkable sales increase of $265,000 by the end of 2023. This impressive growth is particularly notable as it compares year-end performance with just two initial months of operation in 2022. With steady in-season success, Frank's recent launch of a mobile golf simulator aims to address off-season challenges, providing a flexible option for private and corporate events. Stingers Indoor Golf now stands as a unique destination in New Britain, offering golfers a premier indoor experience year-round.
Looking ahead, Frank plans to expand his team and strengthen community engagement, transforming his passion into a thriving enterprise that serves the community. This success story exemplifies how passion, innovation, and the right support can turn a dream into a flourishing business. That's a hole-in-one!
