Erin Williams had always dreamed of owning her own creative business. Starting first with a photography studio in the front of an inherited old hardware store, her photography business gained a quality reputation. Soon she and her husband were doing photography at weddings as a team, including jet setting with their clients to location weddings in Australia and California. In love with the entire wedding process, the Williams recognized a profitable trend—one-stop wedding facilities held in attractive, rural settings—and decided to open their own wedding facility.
While selling their idea to prospective clients via wedding shows, the Williams found the right property in early 2007 in the beautiful Loess Hills of Southwest Iowa. It would provide everything necessary for a wedding, from the actual nuptials to the spectacular grand finale—the reception. Initial start-up costs of $200,000 were financed through a local bank and their own savings.
Construction was going well, but they soon became overwhelmed by the demand for their facility. Initially planning to complete the facility by the beginning of the 2008 wedding season, plans were accelerated because five wedding couples were ready to book the new facility for the summer of 2007 and the Williams knew they could easily book more. In order to get the facility done in less than six months, they would need to hire help, which meant finding more financing.
Erin and Marty contacted Sue Pitts with the Small Business Development Center at Iowa Western Community College in Council Bluffs. Sue helped them put together a very impressive business plan and five year projections to present to area banks for additional financing. A web site was quickly developed and interest via web site visits and phone calls was non-stop. Sue, Marty, and Erin visited several banks and secured enough financing to get the facility built quickly.
The Fountains Ballroom opened and celebrated its first wedding in August 2007. Located 12 miles south of Council Bluffs, the facility sits on six acres of rolling hills. The property offers a beautifully landscaped garden with a four-tiered waterfall and pergola, a 14,000 square foot ballroom, an elaborate grand staircase, a balcony overlooking the ballroom, extra outdoor seating, and a cozy lobby complete with fireplace, wine bar and plasma TV. The facility, which employs five to ten part-time employees during the busy season, held 62 weddings between March and November of 2008 and quickly filled up the 2009 and 2010 calendars.
Business was going well until a fire engulfed the facility in 20-foot flames, destroying the business just before Christmas 2008. The Williams not only lost their business, they also lost their home, pets and family memories. Clients’ dreams for a perfect wedding facility were dashed.
The Williams turned again to the Small Business Development Center for assistance in restarting their business. They visited with Sue Pitts, looking for projection counseling help in refining their business plan, budget planning, and help with marketing and advertising ideas. Sue brought office supplies and computers so Erin and Marty could keep servicing clients through their rebuilding process. With help from the Small Business Development Center they secured a bank loan and an SBA 504 loan. The facility was rebuilt in 11 weeks.
The Williams always remember that the Small Business Development Center is a resource for them when they need it. Erin says, “My husband and I dreamed our new business into existence. We knew what we wanted and how to run it, but we didn't know any of the financial figures. Sue Pitts with the Small Business Development Center was our miracle maker. I say that in more ways than one. Not only did she believe in our idea to make our dream happen, but she spent countless hours with us creating a business plan. In the middle of building we ran into some unforeseen problems that put us way over budget. Sue didn't hesitate for a minute to redo our loan projections. When the bank we were currently working with would not support us any longer, Sue was never more than a phone call away. She even went as far as going to a number of different banks with us and working one-on-one with a variety of lenders to help make our dream a reality. Not only are we extremely grateful to the SBDC for the free business program that they stand behind, but we are immensely grateful to Sue for the support she showed us through the entire process. Everyone should check them out. You never can know too much.”
Company Website: www.thefountainsballroom.com