As business brokers, we are in the people matching business. It is a pleasure to check on past sales, to see how they have turned out. We challenge our potential buyers during the discovery process, to envision themselves in the role of managing the business. I ask:
- Did the purchase of the business live up to your expectation before you bought the business?
- Are you making money?
- Do you see ways to bring the business to the next level?
- Are you happy with your decision?
In the case of Cheryl LaPrade, former Chapter Director of the New Hampshire Motor Speedway’s Speedway Children’s Charities, the answer to all four questions is Yes! Aided by the help of John Kiernan the former owner and founder of Village Sports, Cheryl, in just under a years’ time, has already put her marketing skills to use. With the introduction of new branding for the business, new website, new external signage, new floor plan and new product lines, she’s working towards that next level.
One of her planned new products has been the introduction of the Pedego line of e-cycles, battery powered, power-assist bicycles. On the day that I visited the shop, there were only a few left from the initial inventory. Having already proven to be a big hit, they will be ordered in larger quantities for next year. Other big sellers include recreational and performance paddleboards and kayaks, as well as, the very popular and very quick, pedal kayaks.
Displaying the already successful product lines and the introduction of new product lines will require additional floor space. To further the goal of taking the business to the next level, Cheryl and her husband David purchased the property next to the business for future expansion.
We are happy to share Cheryl’s success knowing that we helped in linking her marketing and management skills with her desire to manage a small business in her home town community.