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Ask the right questions before opening a business
By Ted Albenesius
SCORE Card
If your goal is to open a small business, chances are you have many questions. That’s a good thing. For example, if you haven’t already, sooner or later you may be wondering:
• How do I get a start-up business loan?
• What permits and licenses are required before I can open?
• Where are good places to advertise?
• What workplace safety laws govern my business?
• Should I be a sole proprietor or form a corporation?
• What should my pricing formula be?
• Can my community support another business like mine?
• Where will I find suppliers?
• Should I have an attorney review all my documentation?
One resource for getting the right answers to all of these questions is SCORE. SCORE is a nonprofit association that aids the formation, growth and success of America’s small businesses. Nationwide, 11,000 business experts donate their skills, experience and insights through free, confidential counseling.
SCORE counselors have owned and operated successful small businesses and have held positions of responsibility within major U.S. corporations and willingly share their expertise with their clients.
As Michele and George Hoban were planning to open their new business, a gourmet coffee shop, in August 2005, the above questions were constantly on their minds. They had heard about SCORE from friends and decided it could help them. They met with counselor Martin Lilie that same month.
At Lilie’s suggestion they did an extensive market survey to select the best site available. As in real estate, the three most important factors in opening a new business are often location, location and location.
They succeeded in negotiating a “bare-bones” lease on their new shop at 1739 Maybank Highway in West Ashley.
The bare-bones lease they signed enabled them to lay out counters, partitions, work stations, lounge areas, etc. to their specifications with the supplemental help of skilled electricians, plumbers and other technicians. The Hobans were able to do some of the finish work, such as the layout and painting, at a substantially savings compared to contracting these services.
Muddy Waters Coffee LLC opened for business on Dec. 5, 2005, and has enjoyed a brisk and increasing volume of business each month since opening day.
Their mission, according to the Hobans, is, “Get you in, get you hooked, keep you coming back.” How? “By delivering outstanding beverages, exceptional customer service and a relaxing environment for you to enjoy them in.”
In addition to beverages, Muddy Waters serves pastries, biscotti and other sweets that complement their coffees and espressos. Sweets are supplied by local independent bakeries. All in all, Muddy Waters is more than just a coffee shop. Varied groups of local residents frequent the bar to hold their meetings in the comfortable furnishings and atmosphere afforded therein. One such group is a knitting circle that meets there every two weeks; several book clubs meet there monthly. A massage therapist appears on Thursdays and gladly gives a free sample of her skills to those who ask. Some medical students appear frequently to talk things over and exchange ideas.
As he does with other SCORE clients, Lilie checks with Muddy Waters to see if he can assist them as their business continues to grow.
When asked how Lilie and SCORE helped them get started, Michele Hoban answered: “While he offered many great suggestions about how to set up systems and procedures, we appreciated his pointing us in the right direction, and that he gave us peace of mind in the early weeks and months.”
Ted Albenesius is a retired Charleston businessman and past chairman of the local SCORE chapter.
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