Friday, July 10, 2015

Killy's Store: Offering Refreshing Iced Products

By: Ketsen Haregaichig
Service Center Director/Business Advisor
Chuuk SBDC

Killy Fritz is a mother of four little girls and a part time custodian at Chuuk SBDC for over ten (10) years now.   My four little girls are attending private school and my salary barely meets their tuitions, school expenses and home needs.  Life is difficult but I want the best for me and my girls.

So, Killy decided to open up a business selling iced drinks. Killy went to the Chuuk SBDC to get help on business planning and start-up assistance. Killy stated, “I want to thank the staff of Chuuk SBDC for their help, strong support and encouragement that led me into developing my business plan and submitted to the FSM Development Bank.  After two visits to the bank I was informed that my loan request was approved.  I was very happy.”

The start up process was not easy but with the strong support and encouragement by the staff of Chuuk SBDC things went well. Killy sells three types of iced products on a dock where islanders come in the morning and leave in the afternoon. Her product is ideal for the heat. Killy sells ice blocks to fishermen and others who need ice for cold drinks and food preservation. She also sells ice cups which is a delicious and refreshing koolaid mixture. And lastly, she offers ice chofar which is a popular ice cup flavor in the Chuukese community. It is made of water mixed with carnation milk, condense milk, sugar, and chofar.

In the long run, Killy intends to purchase her own chiller where she will be able to produce more ice block and ice cups and be able to meet the demand of her present market.

Friday, July 3, 2015

Jiron in Keko's Taxi Service: An Interview with Owner Scott Paul

By: Anel Philimon
Service Center Director/Business Advisor

Please tell us about yourself and your family.
I grew up in a business environment in which my parents owned and operated a small retail store for which financed my brothers and I through school.

Why did you decide to start your own business?
Business and management is what I know and is basically my life.

What experience do you have in this type of business?
Retailing and Banking management.

How did the Small Business Development Center and other resources help you?
This program opened opportunities pertaining to capital availability and a business model to follow.

What was the start-up process like?
Start-up process had no issues. It was smooth with the guidance of the SBDC consultant and Bank of the Marshall Islands-BOMI representatives.

How did you fund your business?
Through the Bank of the Marshall Islands (BOMI)

What is your most memorable triumph in your start-up process?
Starting up the taxi service business.

What are your short-term and long-term plans for your business?
Short term goal is to pay off the loan in one and a half years and my long-term goal is to explore other business opportunities.

What advise would you give to others who want to start a business at this time?
Owning your own business will only be successful if you are true to it.