Tom Quinn and Rebecca Nicely approached the Wilkes University Small Business Development Center (SBDC) in December 2013 with a plan to purchase Ye Olde Clock and Gift Shoppe, located in Dallas, PA, from Tom’s parents. The business was created in 1968. It is world renowned for its beautiful product offerings, excellent repair, and staff expertise. Tom, and his fiancée, Rebecca, have worked for his parents for years learning the ins and outs of the business. Tom was running the store and making most of the repairs on a daily basis, while Rebecca handled marketing and sales management.
Tom and Rebecca approached the Wilkes University SBDC, as they were in immediate need of a business plan and financial projections to apply for a loan to purchase the business. While working on the business plan, Tom and Rebecca realized they needed a great deal of help with other daily activities such as: marketing; operations; and, a thorough financial analysis.
The assistance Wilkes University SBDC provided included: Business Plan; Financial Projections; Financial Analysis; Operations Analysis; Business Continuity Planning; and, Marketing Advice.
Tom was able to gain the needed financing, and the final sale of the business is being formalized with his parents. He thanks his counselor, and has asked to remain a client of the Wilkes University SBDC, as he feels there is much more he wants to do with the business to keep it going for the next generation.