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.

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 »
Turquoise Raven Gallery: An Unkindness among the Artists

Paintings. Collages. Mosaics. Photography. Glasswork. Drawings. Walking Sticks. Books. Jewelry. Leatherwork. Pottery. These are all things that ignite Mary Fuller’s passion for art. For years, she’s had a vision of bringing artists from the Four Corners together into dedicated fine art gallery. In 2020, after various careers in both the education and nonprofit sector, she decided that it was time to make her dream a reality. Being a former teacher, Mary understood the value of

Read More »
Soundscapes International

By Malia Durbano Ross Barrable an acoustic sculptor attended the Leading Edge for Entrepreneur’s Class offered by the SBDC in the winter of 2010 because, “I wanted to learn about business and branding and how to market my wind harps.” Barrable doesn’t have a store front and recognizes that most of the sales for his high ticket items come by building relationships with potential clients. Barrable creates, “Contemporary sound sculptures, or wind harps, fabricated out

Read More »
Wily Carrot

Kellie Pettyjohn is the proud owner and founder of The Wily Carrot, an organic farm located in Mancos, CO. She came to the lovely Mancos Valley in 2010 via Washington, D.C., to pursue an idyllic lifestyle, work with her hands in the outdoors and become her own boss. Kellie first got her hands dirty when she tended to two acres of vegetables on Dave Banga’s farm in Montezuma County. She interned with him for a

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 »
Desert Sun Coffee Company: Making the World a Better Place

Durango has seen its fair share of coffee shops and roasteries. So, what makes Desert Sun Coffee Roasters any different from the others? New owner Zachary Ray says it best, “At Desert Sun, we’re committed to relationships with our small-scale farmer partners. We work directly with them on environmental initiatives, supporting: regenerative-organic practices, reforestation projects, and tracking and rewarding carbon sequestration in their fields. This relationship-focused model guarantees the highest quality sustainable coffee on the

Read More »
Skip to content