Pine Needle Mountaineering

Advisor Terryl Peterson worked with Jeremy Dakin and Miles Avenzoar to analyze the prospect of purchasing Pine Needle Mountaineering. Coincidentally, Jeremy knew Peterson as a customer of the store, but didn’t know what she did professionally.

When they originally started looking at the business in the fall of ’07 and the spring of ‘08, the banks were optimistic and the economy was good. Then everything changed. They contacted Joe Keck for advice and what they learned was a real “eye opener.”

Peterson primarily helped them look at the historical financials of the business and to use the performance to determine a realistic purchase price. They examined financials for the three previous years.

They projected the cash flows forward to make sure the purchase price was reasonable. They looked at fixed costs and variable costs to see what they could change to improve some of their margins. The lengthy process took a few years to complete with Peterson’s involvement off and on.

Jeremy explains, “Terryl gave us lots of good advice and ideas. We analyzed the Profit and Loss Statements, looked at the Balance sheets and ran every ratio on the business.” They saw some things they could change to tighten up some of the systems and opportunities for growing the business.

The information they gathered with the help of the SBDC provided exact numbers on how the business was performing. This data from a respected, objective third party gave them ammunition to negotiate the purchase price and influenced the seller to agree to a realistic price. “Terryl helped us structure the deal to make sure it made sense.”

Miles commented, “Joe Keck and Terryl provided really non-biased opinions. They gave us an objective analysis.” Joe Keck provided excel worksheets to project the numbers out for five years. They gained an understanding of forecasting and cash flow. “Luckily, the store had lots of history they could look at but the economy and the weather have a huge influence on the business,” explained Jeremy.

Teresa Malone was really efficient in helping them write a business plan. Her work was facilitated by the fact that the partners had done their due diligence and had accurate information to present to her.

Both partners agree that the advice and help they got were a huge help. They are grateful such an awesome resource exists in the community. The assistance they got made them focus on IF they could pull it off and how they could make the business thrive.

They will be contacting the SBDC again for further assistance with marketing.

BC Signs, LLC

“I remember the first time I met Joe Keck, I was huddled by a wood stove in a 4,000 square foot building accompanied by a meager video inventory and a vinyl cutter”, said Bryce Capron, on meeting Joe in at his place of business in Dove Creek. He sat next to the fire with me and we talked. “It was my first contact with a resource that I value and rely on to this day.”

Read More »
Nifty Nanny

Vivienne Yeagy always envisions bigger. Vivienne was home schooled by her mother Susan, along with her four sisters. Her childhood dream has been to have her very own school, incorporating year round education and child care. This stemmed from her early education in a one room school house with a red door in the family’s yard. Susan worked hard while she incorporated multifaceted ways for the children to learn. Instead of rote memorization and writing until

Read More »
Jitters’ Java

Jitters Java: Where Every Burrito is Made with Love Jitters Java had been closed for more than three years. Yet, through its shuttered doors, Aimee Beauregard saw potential. Aimee had just experienced some monumental life changes that left her looking for purpose. The more she thought about it, the more she realized that she needed to find a way to give back to the community. She knew Marwa and Greg, the original owners of the

Read More »
Doggy Day Care

Jeff Edens learned about Doggy Day Care in Pagosa Springs because his friends Maria and Linda worked there. He purchased the business in July of 2011 and now they both work for him. Edens had a good business background as a result of previous business experience as a home builder and realtor. Doggie Day Care provides socialization for the dogs which includes reinforcing proper social manners such as no barking, no fighting and no jumping.

Read More »
Enterprise Bar & Grill

Have you heard the story about the entrepreneur who bought a business because she was looking for a job?  Seriously.  She bought a bar and grill in Rico, CO, with no previous business experience.  A year and a half into it she sought assistance from the Small Business Development Center.  This woman took a class designed for entrepreneurs, implemented the suggested practices, became business savvy, and now has a goal to buy the property her bar and grill operates

Read More »
Rock Lounge

Marcus Garcia has been the owner of the Rock Lounge (RL), an indoor climbing gym in Durango, since 2014. Marcus had transitioned from being a RL employee, a rock climbing guide, and owner of a small construction company before then. The RL was profitable in his first year, yet he thought there was more potential to be realized. Marcus had sent his business manager to a locally sponsored event which introduced them to the Small

Read More »