In July 2012, Amy Adkins began pursuing her dream of business ownership and visited a local bank to discuss her financial needs. The lender referred her to Kim Jenkins, management consultant at Morehead State University’s Ashland Small Business Development Center (SBDC). The Ashland SBDC has been providing small business consulting services free-of-charge in downtown Ashland for nearly 30 years.
Adkins planned to open a Chickabiddy Frozen Yogurt franchise in Louisa. During her sessions with Jenkins, they discussed loan options, loan requirements/criteria and she was provided outlines, information and worksheets to begin drafting a business plan and financial data for SBDC review. They calculated her start-up costs including the franchise fee, remodeling/renovations, inventory, equipment/machinery, and working capital. In the weeks that followed, Jenkins worked with her to develop and finalize a business plan, three-year financial projections, and loan proposal to start the frozen yogurt shop. Adkins then returned to her lender fully prepared to pursue financing.
She was approved for SBA financing, and the grand opening of Amy’s Chickabiddy was held on Nov. 29. Her yogurt shop has created six jobs. Depending on one’s appetite and love of frozen yogurt and toppings, Chickabiddy offers two cup sizes – the iddy biddy and the big ol’ biddy. Then the filled cup is weighed to determine the total number of ounces. The end price is .44 cents per ounce.
“Chickabiddy is the coolest self-serve frozen yogurt shop with 15 rotating flavors of frozen yogurt and more than 70 toppings from which to choose such as fruit, candies, nuts, sauces,” said Adkins. Chickabiddy also offers a customer loyalty “Biddy Bucks” discount card. For every dollar spent, customers earn a point, and 50 points earns a free $5 cup of yogurt. The store stocks and sells trendy Chickabiddy T-shirts at $12 each. Her store is on Facebook, and Adkins encourages everyone to “search for Chickabiddy-Louisa and like the page.”
The Ashland SBDC was heaven sent. Kim Jenkins was absolutely wonderful to work with. She kept me updated throughout the process and helped me submit my loan proposal to the bank. The best part is the SBDC services are free. If you need business start-up and financing advice, I highly recommend Kim.
– Amy Adkins
Amy’s Chickabiddy is located in Louisa’s Food City Plaza, 4341 Highway 2565.
The hours of operation are Monday-Thursday, noon – 9 p.m.; Friday-Saturday, noon–10 P.M.; and Sunday, 1–6 P.M.
LEXINGTON, Ky., (Feb. 14, 2017) – Kentucky Small Business Development Center is seeking nominations for the 2017 Pacesetter Awards. The recognition program was created to honor high performing, second-stage businesses that are changing Kentucky’s economic landscape. The deadline to submit nominations is March 15.
KSBDC encourages small businesses that meet the following minimum qualifications to apply:
· Privately held
· In business for three or more years
· Employ six or more full-time employees, including the owner
· Annual sales meet or exceed $500,000
· Located and headquartered in Kentucky
·Demonstrate the intent and capacity to grow evidenced by the judging criteria.
Pacesetters will be selected based on two or more of the following criteria:
· Growth in the number of employees
·Increase in sales and/or unit volume
· Innovativeness of the product or service
·Response to adversity
·Employee engagement and commitment
·Contributions by the nominee to aid community-oriented projects
Pacesetters will be recognized at the Kentucky Celebrates Small Business event held at the Capitol rotunda in Frankfort during the first week of May. Each honoree will receive an award inscribed with the business’s name and a promotional video for their own use that highlights the business. In addition, KSBDC will send a customized press release announcing the award to local media and trade associations. Honorees are given the rights to use the Kentucky Pacesetter logo and event photographs in promoting their business.
Anyone may submit nominations, including third parties associated with an eligible second-stage business. A business may self-nominate by completing the required form. Winners will be notified by March 27. Full nomination requirements and the application are online at https://www.ksbdc.org/kentucky-pacesetters1 .
The Kentucky Small Business Development Center, part of the University of Kentucky College of Agriculture, Food and Environment, is a network of 12 offices located throughout the state. The center helps existing and start-up businesses succeed by offering high quality, in-depth and hands-on services. KSBDC is a partner program with the U.S. Small Business Administration. More information on KSBDC services can be found on their website, http://www.ksbdc.org/ .
Writer: Roberta Meisel, 859-257-0104
UK College of Agriculture, Food and Environment, through its land-grant mission, reaches across the commonwealth with teaching, research and extension to enhance the lives of Kentuckians.