Renewed Balance Health and Wellness Center Business Profile

Starting your first small business is exciting, but also very challenging.  John Schori will certainly attest to that.  John was just completing his chiropractic schooling in December 2011, and he was determined to open his own practice as soon as possible.  He came to ECC’s Illinois Small Business Development Center with business plan in hand.

Over the next few months, John visited the ISBDC to review his business plan revisions.  He revised, and revised, and revised that plan, looking for the best way to start his new enterprise professionally, yet economically.  He knew he needed some funding assistance, but finding a bank that would be receptive to a start-up chiropractic business was the challenge.  Still fresh from college, he understood, first of all, that writing an A plus business plan would be essential.  Second, he wanted to keep the start-up and recurring costs down.  And third, he did not want to inflate his revenue projections (a trap all start-ups fall into initially).

Once John had achieved the most realistic projections, he started visiting banks in the area.  By this time, he cognized that a small loan would not likely be in the cards, so instead he searched for a bank willing to offer him a business credit card that had a reasonable credit limit.  After shopping around, he found a lending institution he felt he could work with.  Having a strong relationship with a business banker should not be underestimated.  You are likely to use their other business banking services over time, so a strong working relationship is critical.

We can finally report that John opened his practice in May 2012.  It’s called Renewed Balance Health and Wellness Center, at 2175 Point Blvd, #170, in Elgin, near the intersection of Route 90 and Randall Road.  He will be hosting a grand opening celebration, open to the general public, on Saturday, July 21, 2012, 11am – 2pm.  Call 847-396-6584 for more information.

“Working with the SBDC has been a great experience! Their friendly staff, helpful resources, and knowledgeable guidance have been a vital part in starting my new business.”  - Dr. John Schori

Next Door Business Profile

Paul Schifferer launched Next Door, Inc. in November 2009, operating it himself until May, 2011, when he brought on two full-time and one part-time employee.  Next Door, Inc. is a Veteran-owned business in St. Charles, IL specializing in the sales, installation, service, and repair of garage doors and garage door openers.

By now, Paul has been in the garage door industry for over 10 years.  His style is direct and honest.  He prides himself on providing quality work, guaranteeing his customers both value and satisfaction. 

The ISBDC at ECC first met Paul in January 2012.  At the time, Paul was sure he was performing some business functions correctly, but he was also sure there was room for improvement.  He felt there were some areas of his business he was not fully addressing as effectively as he should.  Paul was (and still is) determined to take whatever steps are necessary to ensure he grows his business properly.

We started our counseling services by doing a Comprehensive Business Assessment (CBA) for Next Door, Inc.  With this process, we examined 36 different business functions, and rated them based on the maturity of the company and the relevancy of each function for the business.  The assessment identified those functional areas needing attention, and made recommendations for improvement.

After four months of working with Paul, we've discovered that he is an avid learner.  He participates in small business classes, workshops, events, and training programs at ECC to improve his understanding, and to enable him to function better than ever in his business. 

Paul has commented about his ISBDC experience:  "I was referred to The Small Business Development Center by another small business owner earlier this year.  I would have never heard of their services otherwise.  We, as small business owners, should be shouting from the rooftops to spread the word about this fantastic (and completely free) service.  Not only did Sybil meet me at my office and complete an extremely comprehensive assessment of my business, but then continued with helping me develop and understand a budget.  The SBDC also helped me develop marketing plans as well as company policies and procedures.  We have met many times and I leave every meeting feeling positive and with more ideas.  Thank you Sybil for being an outstanding mentor and friend and I look forward to our next meeting!"