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.

Summit Ridge Wood Designs

Tobie Beneli and Lin Grady of Summit Ridge Wood Design (SRWD) shifted their business focus from custom woodworking jobs including commercial and residential cabinetry to primarily building caskets. In 1997, Tobie’s relative passed away. The deceased’s immediate family called and asked Tobie to build a casket. The funeral home would not sell them one because they had an outstanding bill and the director suggested the family make one. Tobie acquired the specific dimensions needed and

Read More »
Por Dia Preschool & Learning Center

Amy Long purchased Por Dia Preschool & Learning Center sixteen years ago. Por Dia is licensed to serve up to 60 children. They offer daily preschool, toddler care, and before/after school care. Long approached Joe Keck for help in expanding her Toddler program. Beginning in August of 2011, they worked together for six to eight months. “Joe personally came by my business to consult with me, and we met at the SBDC office at the

Read More »
Ignited Imagery

In 2006, La Plata County Sheriff’s Deputy Andy Wingerd received a simple gift. It was a six megapixel camera from his mother. Little did he know that it would change his life. He started taking photographs, and several of them sold in a gallery in Bisbee, Arizona. He became obsessed. For the next ten years, he continued taking photos and videos and practiced editing them. In 2014, Ignited Imagery was born. He worked at the

Read More »
Aspen Wall Wood

David Sitton and Sean Stafford are the owners of Aspen Wall Wood. I interviewed David for this article, who shared his story of purchasing a timber mill in 2016 and later purchased two other companies. The major factor in the acquisition process was the ability to obtain a loan. That was done with the assistance of Small Business Development Center (SBDC) in Durango. David was well established as a Vice President for Skanska, a large

Read More »
Freenotes Harmony Park

By Malia Durbano Richard and Christy Cooke are so grateful to the SW Colorado Small Business Development Center for consulting with them and putting them in touch with valuable resources to assist them in growing and expanding their business. Thanks to the help of the SW CO SBDC their company is experiencing 100% growth in 2011. Originally, a small cottage industry business, started by Richard Cooke in 1990 in Moab, Utah, FHP was at capacity

Read More »
A Fusion of Expertise: Mind Body Soleil

Fifteen years ago, Marie Soleil fell in love with the healing arts. Like many, she had grown up indoctrinated in western medicine. But, when it couldn’t help her overcome a panic disorder, she pursued more natural means of healing. “When I realized that I could heal myself,” she says, “I was hooked.” She started working as a massage therapist and soon became a personal trainer, yoga teacher, stretchologist, Master Meditation Teacher, and group fitness instructor.

Read More »