unleashing
national impact
igniting local
transformation
When Joyia opened her store in 2012, a reporter asked her, "Why go into the jewelry business?" She responded, "I am not in the business of making jewelry; I am in the business of connecting with people." As her business grew, so did her goals. Joyia dreamed of more ways to connect with the community she loved. She knew the tiny space where she started was no longer big enough to house her dreams. Joyia wanted to expand her business by introducing new offerings that would complement her existing jewelry designs. She needed a larger space, but not just any space. Joyia envisioned creating an inviting gallery that could accommodate everything she wanted to offer while also serving as a venue for intimate events, fostering stronger relationships and greater creativity within the community.
"Working with my SBDC advisor was a game-changer. Her guidance helped me refine my marketing strategy, identify new sales channels, and streamline my operations. Thanks to this expertise, I've seen a significant increase in both online and in-store sales. I'm so grateful for the support in helping me turn my passion into a thriving business. My SBDC Advisor helped me navigate the complexities of business expansion in a competitive market. This support was instrumental in turning my vision into a reality."
Expanding into a larger space was a key step toward turning her business dreams into reality. Joyia turned to the VI SBDC for guidance on understanding her financial options, improving cash management, and exploring potential loan opportunities. Learning the significance of key figures like assets, liabilities, and equity helped made her aware of how they reflected the overall health of the business. The advisor worked closely with her to highlight areas of strength and potential concerns, helping to see where adjustments could be made for better financial stability. Together, they examined various funding options to support business growth, from small business loans to equity financing and government grants. The advisor provided a comparative analysis of interest rates, repayment terms, and the potential impact on ownership, ensuring the client felt empowered to make informed decisions that aligned with her long-term goals. With a clearer understanding of her financial position and a roadmap for securing the necessary funds, the client felt confident in her ability to scale her business sustainably and secure the funding for the expansion she envisioned.
After a thorough review of her financials and guidance by the VI SBDC, Joyia successfully identified the funding needed to move her business into a larger space. By a stroke of luck, or divine intervention, the ideal space became available right across the street from her current gallery, and within the same building as her design studio, where all her designs come to life. By leveraging her strong credit position along with her personal assets, she was able to identify and secure a loan product that provided her with the capital needed to support her relocation, complete the build out of her new gallery, as well as cover other costs for marketing and event planning for her grand opening. On November 15, 2024, the 12th anniversary of her business, she celebrated with a grand opening event in her new location. The occasion not only marked a significant milestone in her entrepreneurial journey but also attracted a large turnout, strengthening customer loyalty and bringing in new clients. The successful move and well-executed event were a testament to her determination and strategic planning, setting the stage for continued growth and success.
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For many years, Ms. Kiese Sam, the Managing Member of Caraïbes, LLC, was passionate about showcasing the rich culture of the Caribbean and Latin America through the art of fragrance. As a result, she was inspired and launched this venture in 2021. Caraïbes (the French word for Caribbean), LLC was born! Faced with challenges like brand visibility, marketing resources, and connecting with the right audience, she was determined to launch her products. The business and products lacked reputation and funding, which would not stop the business from entering the competitive market.
"The unwavering support by the VI SBDC was crucial to our launch and is instrumental to our growth. Their valuable feedback prepared and motivated us to pursue not just funding but all growth opportunities. As a result, our business is now expanding because of increased brand recognition and financial backing. My advisor Daryl Edwards, has supported me in more ways than one as the driving force behind our local initiatives to prepare us for our anticipated global expansion."
Partnering with the VI SBDC provided invaluable guidance. VI SBDC Advisor Daryl Edwards worked to refine the business plan, identified marketing opportunities, and introduced the owner to the appropriate networking channels. He recognized that this business needed strategic planning and financial support but didn't stop there. Sessions would lead to the education of financial projections, accurately creating financial statements, preparing loan packages, aiding with product sampling, and assisting with business proposals to obtain sponsorship.
Thanks to the support of the VI SBDC, Caraïbes, LLC successfully launched one fragrance with three more fragrances in the works. Ville d'amour, dedicated to St. John, USVI has debuted first and is currently on the market. Next is Solace, dedicated to Tortola, BVI., Soaring Majesty, the first male fragrance dedicated to St. Croix USVI, & Resiliencia, dedicated to Puerto Rico. The company has been deemed a Puerto Rico Minority Supplier. These products will be available in the Caribbean and aim to gain traction in mainland markets with expansion plans globally. Partnerships with international retailers and increased brand recognition have positioned us as a unique and thriving fragrance company. Caraïbes products are available at My Girlfriend's Closet in their St. Thomas and St. Croix locations, Posh Boutique, Serenity Glow Candle Co., all local to the Virgin Islands and through various online outlets.
As a health-conscious consumer and avid tea drinker, Dani was determined to find a more natural alternative to the mass-produced options available in her local stores. Inspired by her deep respect for Caribbean culture and desire to live a healthier lifestyle, she began exploring the healing properties of the plants that grew in her backyard. Her journey into the world of bush teas began with learning how to make traditional herbal infusions from local plants, and soon, her creations became the talk of the town. Word spread quickly about the soothing, flavorful teas she crafted in her home kitchen, and thus, Tea Mama was born. Starting with just a few signature blends, Tea Mama's popularity grew rapidly, allowing her to offer her Caribbean Homegrown teas in local stores and restaurants. Yet, her vision extended beyond the borders of St. Croix. Eager to share the rich, natural flavors of the Caribbean with a broader audience, Dani dreamed of expanding Tea Mama to other islands, hoping to bring the healing power of bush tea to more people across the region.
"The VI SBDC has been a vital partner in my business journey. Rael Reddick's expert guidance and resources have empowered me to expand my company to multiple locations, including St. Thomas. We've also diversified our product offerings now inclusive of Wellness Shots and Twisted Tea.
The VI SBDC has been more than a resource — they have been a trusted partner in my entrepreneurial growth. Their commitment to supporting small businesses like mine have allowed me to expand my vision and lay a solid foundation for long-term success. I am deeply grateful for their role in my development and look forward to continuing our collaborative relationship as my business evolves."
Dani was eager to expand Tea Mama to other islands but felt unsure about where to begin or how to structure the growth of her business. To navigate these challenges, she turned to her VI SBDC advisor for guidance. Together, they began by carefully reviewing her costs by product, considering the different pricing structures for her fresh-brewed, bottled, and loose-leaf teas. Understanding the varying costs associated with each product was crucial for determining competitive pricing while ensuring a healthy profit margin. They also researched shipping options to find the most cost-effective and reliable methods to safely deliver her products. With a clear picture of her costs, an efficient shipping solution, and well-defined price points, Dani was ready to market Tea Mama beyond her local area. Her advisor suggested targeting not only local markets and restaurants but also hotels and resorts, both on St. Croix and other islands, to expand her reach and introduce her unique teas to a broader audience.
After gaining a clear understanding of her costs, Dani successfully established a reliable shipping system for her teas to other islands. She then crafted a targeted marketing campaign that quickly caught the attention of one of the largest premier resorts on St. Thomas. Impressed by her blends, the resort invited her for discussions to bring her teas to their property. After several meetings, both parties agreed to start with small-batch quantities of the Bush Tea blend, offering it in the resort lobby. Tea Mama became an instant hit, leading to a swift expansion. The agreement grew to include larger batches of Bush Tea and additional blends like Sorrell, Mango Black Tea, and Hibiscus Mint. With over 200 resorts worldwide, the success of Tea Mama has sparked conversations about expanding its offerings to other locations, paving the way for even greater growth. Yesterday . . . St. Croix — today . . . the Virgin Islands — tomorrow . . . the world!
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