Wendy Wright has been an entrepreneur for over 20 years in the home appraisal business, but it was her love of the quaint and quirky that led her to starting a new business called Get Funky Gifts and Stuff. Needing help to start her business, and having heard of the Western Iowa Tech Small Business Development Center (SBDC) from her husband, Trent, who was already an SBDC client, Wendy met with SBDC Regional Director Dan Wubbena to discuss her business idea.
Wendy decided to sell items via both a retail location and a website. Both the retail location and its website - www.getfunkygifts.com - offer unique and creative gift and novelty items that Dan describes as “a retail store with SkyMall stuff.”
Working with Dan, Wendy finished writing a business plan and cash flow projections and was better prepared to meet with her banker to discuss funding options to start her business. Once approved for conventional financing, Wendy continued to work with Dan on a marketing plan, and was also introduced to SBDC counselor Chris Radloff for assistance with online marketing and branding.
During the planning and implementation of the business’s marketing plan, Wendy worked closely with Dan and Chris to devise a unique marketing and branding strategy that would ultimately be used in her store, on her website, and in all of her advertising. “Without Chris and Dan’s help, I would still be trying to figure out how to properly brand and market my store,” said Wendy.
Following some extensive work inside her new location, and a cash equity infusion of $43,000, Get Funky Gifts and Stuff opened for business with one full-time and two part-time employees on August 1, 2010 in Sioux City. The company’s sales were on track for the first two quarters and it paid $2,129 in state sales taxes during its first two quarters of business.
Wendy praises the assistance she received from the SBDC, “Dan was very knowledgeable,” she states, “and he helped me see the big picture.” Wendy hopes to get out of the home appraisal business and work at the store full time and if the store continues to do well, she would like to open a second location some day.