A young entrepreneur purchases a long-established business
“The SBDC provided me with the confidence to fulfill the goals of business ownership.” – owner, Sara Bennett
Sara Bennett was working part-time for Riverside Recovery, LLC, a long-established outpatient mental health and chemical dependency counseling business, when she made the decision to purchase it.
Sara contacted the North Central Small Business Development Center Office to learn more about purchasing and running the business. Her consultant helped her identify what information she needed in order to determine the value of the business as well as the potential risks and rewards. They obtained historical documents, made financial projections, looked at stability and evaluated potential changes. The SBDC also helped her with another challenge. As a young entrepreneur, Sara worried about her ability to communicate her expectations to her team and understand financial systems. Her consultant worked with her to build her confidence as a business owner. A year and a half later, Sara closed on the purchase of the business and the building. She recommends other small business owners find a good team to provide support in achieving your goals.
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Idaho SBDC Success Story
Lewiston, ID Nez Perce County