Business Assistance News

Quick Tips for Purchasing a Business

There are so many questions to ask when considering the purchase of an existing business. A great place to begin is with the tips listed below.

Most importantly, start by asking, "Why is the seller selling?" The answer will raise red flags or be consistent with, and meet no resistance when asking for the detailed information that follows.

Patience & Hard Work: Critical Habits for Starting a New Business

Starting a new business takes hard work and patience. To be successful, there are several key factors. The area I will focus on is personal finances.

Most new businesses will need capital to get them started and maintained. The owner will be responsible to inject cash into the business, not only at the inception but most likely at various times during the first two years of existence. That requires having your personal finances in order.

Spotlight on Business: Honey Entrepreneurs Sweeten Business

Bottles of Chandler Honey
Chandler honey is marketed all over Central Nebraska, supplying approximately 80 stores. They sell as far away as Hy-Vee in Omaha and handle all Nebraska Honey Sunday bottling and distribution.
Pat and Rachael Chandler took over management of Chandler Sandhill Honey in Anselmo, Nebraska, in early 2000. Pat is a skilled beekeeper and production manager, with over 350 hives. Rachel manages the honey bottling side of the business along with sales and honey delivery.

Back in 2007, a state Value Added Agriculture grant helped them up¬grade their honey bottling facility. In 2010, they received another grant to upgrade their 70 year old honey extraction equipment. It required matching funds, and the Nebraska Rural Development Commission led them to REAP.

Working with Dena Beck, the Business Specialist for their region, Pat and Rachael prepared a business plan and cash flow to apply for financing to modernize their facility along with the equipment. Through Dena’s contacts, the Nebraska Enterprise Fund was brought in as the primary lender, together with REAP and the Custer County Revolving Loan Fund.

Trainings Offered Across Nebraska Empower Many

REAP WBC laptops have been making the rounds in Southeast Nebraska. A QuickBooks session was held in Falls City in collaboration with the Five Rivers RC&D in July. Sessions were held in Hebron with the Thayer County Economic Development Alliance in September. More sessions are planned in Fillmore, Antelope, Holt, Cherry, Platte and Valley counties in the months to come.

Love of Outdoors Grows into Business

REAP clien Midwest Outdoors, LLC
Archery is a specialty of the staff at Midwest Outdoors, LLC. The business launched after two entrepreneurs let their passion grow into a business.
Archery is one specialty of the staff at Midwest Outdoors, LLC. The business launched after two entrepreneurs let their passion for the outdoors grow into a business.

Andy Leighty and Seth Jensen started Midwest Outdoors in Andy’s basement as a side venture to their construction businesses. The pair was testing potential demand in the region before they leaped into the new venture.

Happily, the signs were positive, and the two businessmen opened their full time hunting and fishing store in Grand Island, Nebraska, on Feb. 28, 2011. In addition to hunting and fishing basics, the shop also offers trapping supplies and some apparel.

Andy and Seth grew up in the Nebraska outdoors and take pride in their one-on-one customer service, extensive knowledge base, and the quality products. Their niche is archery. Midwest Outdoors is the only full-service archery shop in Grand Island, and boasts a single indoor lane out to 15 yards and a single outdoor lane out to 70 yards.

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