A Dog’s Day Out
Colleen Baribeau, an active duty lieutenant commander, came to the Alexandria SBDC in late 2011, in anticipation of her retirement, after having served 20 years in the U.S. Navy. Her husband was deployed in the Pacific. They planned to invest $100,000 in a canine daycare operation to be opened on the West End of Alexandria, VA.
After careful research and several contractor walk-throughs, the entire project was estimated to cost slightly over $500,000. The client required help crafting a viable business plan and needed guidance to secure bank financing, and she contacted Alexandria SBDC Business Analyst, Jack Parker.
By year-end the business plan was complete and Jack had located an interested lender. Within two weeks, a$413,000 loan was approved under the SBA’s Patriot Express Loan Program. The extensive build out was completed in August, 2012, and the doors were opened to A Dog’s Day Out with happy dog owners in attendance.
In December, 2013, after her first full year in operation, Colleen reported $350,000 in revenue, and she looks forward to taking a regular salary in the New Year.