Business Plan Challenge winners named

DAVE MOSIER/independent editor

The Embroidery Coop was the top winner of the 2014 Business Plan Challenge Award, and owners Ernie Geyer and Shelly Becker said the experience was a valuable one from many standpoints.

The challenge process, a byproduct of the annual Entrepreneurship Fair held at Vantage Career Center back in November, requires participants to attend several training sessions and then create a three-year business plan.

“It was a totally eye-opening experience,” Becker noted. “We opened our business without doing any of this, and so to actually put our facts and figures on paper and come up with a three-year plan that had to be reality was the most eye-opening part of it … actually planning it and carrying out that plan.”

“Now we have goals,” Geyer said. “We had goals in our own mind, I think, at one point, but now they’re on paper, they’re realistic.”

Geyer said he and Becker received a lot of good information from the classes held by Gary Corcoran, especially on marketing their business and where to find resources to help with business-related problems.

The Embroidery Coop owners also noted that they plan to use the $2,500 in business development funds they received as the 2014 Business Plan Challenge winner to purchase software updates, as well as a new computer and website development services.

They also received business cards, free training opportunities and a business membership in the Van Wert Area Chamber of Commerce as winners of the challenge.

The business, located at 126 E. Main St., provides custom embroidery services, and also is the only local store selling Stephanie Dawn handbags made locally by KAM Manufacturing.

Paul Barton, who is opening a business where young kids can use Airsoft and Nerf guns, was the second-place winner and received $1,000 in business development funds, business cards and training opportunities.

Sponsors of the event include First Financial Bank and First Bank of Berne, as well as the Ohio State University-Extension Community Development revolving loan funds.

Also providing support for the program is the Chamber of Commerce, Main Street Van Wert, Community Improvement Corporation, city and county governments and the Wright State University-Lake Campus Business Enterprise Center.