Ted Sheets has been making signs in Eureka since 1984. In 2006, he began to look at the possibility of moving out of his garage, which was full to the rafters. Ted wanted to expand his sign business and started looking at sign franchise opportunities. But he didn’t know how to tell if it was a good deal or not. How much cash would he need and what was the monthly break even point?
In early 2007, Ted joined the Building Contractors program sponsored by CAMEO member North Coast Small Business Development Center. The SBDC developed an intensive training and counseling program for this specific industry group.
During this same period, a competitor’s business became available for sale. Using the skills he already had and his new understanding of financial management and business cash flow, Ted and his counselor reviewed several possible purchase scenarios.
Ted’s offer to purchase his competitor’s business was accepted and he opened Advanced Signs. It was a turn-key operation and Ted has was able to more than double the volume of the business, retain three jobs, and is looking at creating new jobs.