An Interview with Kimberly L. Gilmar, Owner of Colonia's Best Coffee
By: James Limar
Director
(Yap SBDC)
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| Kimberly Gilmar, left, with Colonia's Best Coffee Staff |
Why did you decide to start your own business?
What experience do you have in this type of business?
KLG: I was employed at a coffee shop called “Lamassatt Fresh” back in California for two and a half years. I also worked for the A & W Company which also dealt with other mixed drink products.
How did the Small Business Development Center and other resources help you?
KLG: I am happy to say that Yap SBDC is the enabler for our success. It is because of the business counselors’ help and support that we were able to put together our business plan and successfully get funding by the bank. Aside from the counseling and training assistance, Yap SBDC also accepted us into its incubating program which puts us at a central location in town to run our business from. It is that business support system offered by the Yap SBDC that helps and continues to help us tremendously.
KLG: Oh boy! What can we say; the process of starting our business was not easy work. From raising funds to obtaining permits, purchasing inventory, hiring employees to the actual opening of the shop, it took us almost 4 months. Our lender, the Pacific Islands Development Bank, on the other hand, was very generous and quick in its processing of our loan application which took less than a month to get approved and disbursed.
What were some of the biggest challenges you experienced in the start-up process?
KLG: The major challenges we experienced were the training of the new employees to get the exact measurement of the ingredients for drinks and the consistency in the quality of our products. Also, the marketing of our product to get new customers to try them out was a challenge.
What is your most memorable triumph in your start-up process?
KLG: It is the joy that comes with the accomplishment of one’s own dream on that day we officially opened our door for business.
What are your long-term plans for your business?
KLG: Long-term goals are 1) to not give up on running our business to the next level of success and 2) to expand to other locations on island and hopefully beyond.
What advice would you give to others who want to start a business at this time?
KLG: Good Luck! Anything is possible if you set your mind to it. Don’t give up! Talk to your banker, SBDC, your friends and family.
The Yap Small Business Development Center (SBDC) is an affiliate of the University of Guam’s PISBDCN supported in part, by the U.S SBA under a cooperative agreement. Services are extended to the general public on a non-discriminatory basis. Please call Yap SBDC at (691)350-4801/2 for assistance.
