Category: Northern Virginia

StageCoach Theater Company

StageCoach Theatre Company

StageCoach on the road to success​

With the new programs Stage Coach now offers in its permanent location, they  estimate a revenue boost of 30% to 40%, with an additional 10% in revenue driven by rental income. 

StageCoach Theatre Company has been on the road in Loudoun County since 2011. By 2017, the traveling theater troupe was ready to find a permanent home, and the SBDC at MEC-Leesburg made it happen, when Jerri Wiseman and Terry Smith, founders, turned to them for help.

“I guess you could call me an SBDC groupie,” Jerri says with a chuckle. “I went to anything and everything they offered. I was looking for information on how to run a business, particularly in Loudoun County, and the SBDC offered a good number of resources.”

“Jerri came to the SBDC in Leesburg to tackle two main challenges,” SBDC Manager Eric Byrd says. “The first was to determine the best location for the permanent theater, and the second was to change her business model to support and fully utilize a permanent location.”

The urgency to find a permanent home was driven by the StageCoach summer camp program. “We have always offered adult classes,” Jerri says. “Finding a space to hold our summer camp for children, however, was a problem.” Eric helped Jerri with planning and revenue projections. “While expenses would go up, our projections showed that increased capacity and program stability would more than pay for extra costs,” Eric explains. “By expanding classes and corporate training programs, like an improv course for business leaders and by renting space in the facility to other groups, these revenue streams gave StageCoach higher profitability through diversification.”

Jerri found the marketing advice that the SBDC provided especially useful. “Eric helped with marketing — who and when we needed to target,” Jerri adds. “We also did some budgeting. Eric showed me how many kids we needed to bring in to make it work.”

With a new theater home and new business plan, Jerri is confident of the future. She says, “The SBDC has been with us all the way. I absolutely will continue to go to the SBDC for advice. I’ve already made plans to meet with them soon.”

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fibre space, Alexandria

fibre space

Fibre finds a space in Alexandria

fibre space has a staff of 6 plus 7 instructors who teach classes. Their annual revenue is $1.46 million.  

When Danielle Romanetti opened fibre space™ in historic Alexandria, she was excited to finally have her own space. It was an extension of her original business, Knit-a-Gogo, Inc., which offered knitting classes literally on the go. “I taught beginning and intermediate knitting classes in coffee shops, bakeries, and other businesses in the DC area,” she says. “Using these spaces required a solid relationship with the businesses that hosted us and that, in turn, has led to the collaborative philosophy that fibre space™ still maintains.”

As Danielle’s customers grew, the Knit-a-Gogo community needed a permanent home, a place where stitchers could meet outside of classes, buy quality supplies, and share with other stitchers. In 2008, Danielle met with Business Analyst Jack Parker from the Alexandria SBDC. “I knew how to create a business plan, but the SBDC helped streamline it.” Danielle adds, “The SBDC also helped make connections with banks in an attempt to get $95,000 in funding.” Unfortunately, the bank denied the loan, so she borrowed funds from a friend and her parents and used her credit cards.

“Danielle opened her shop just off King Street in 2009 to a large and immediate customer base comprised of students she had taught,” Jack relates. “Her first year’s projected revenues were ambitious, but she was able to exceed them. She became profitable within a few months and has never looked back.”

Eight years later, Danielle began looking for a property to purchase near her existing location.

“Purchasing our own building was the next natural step for the shop,” she says. “We’ve enjoyed steady sales volume since an initial growth period, and I felt that we were better served by investing in property rather than continuing to pay rent.” Jack Parker helped her again with banks offering SBA 504 Loans. “She closed a loan at EagleBank and the Business Finance Group in mid-2017,” Jack adds.

That September, fibre space™ opened its doors in the only known flatiron building in the historic city. As part of the building purchase, fibre space™ partnered with the City of Alexandria to adopt the public space in front of the building for small community gatherings, including her knitters from the neighborhood. “Danielle’s success comes from her marketing talents and knowing each of her customer’s needs, almost before they do,” Jack notes.

There’s little doubt that fibre space™ has found a place in Alexandria.

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