Business owners Jason and Regina Smith heard about the Indiana Small Business Development Center from the Wabash Economic Development Group a couple of years after opening Cornerstone Furniture at 233 Main Street in Wabash, Indiana. The Smith’s attended ten sessions of the NxLevel, ‘Develop Your Business Concept’ seminar along with counseling, sponsored by the ISBDC, allowing them to create a business plan which they used to establish line of credit with a local bank – guaranteed through the Economic Development Group.
Jason and Regina started out with 13 mattresses in inventory, but after several other local furniture stores in the area announced they were closing, they expanded their inventory to include furniture. Jason is a Veteran who previously worked as a prison guard for the State of Indiana, but he had friends who worked in retail and he enjoyed the selling process and saw the potential for growth in Wabash.
2007 ended by breaking their previous sales’ records and allowing them to add an additional full time employee and three part-time. The goals for 2008 are to increase store inventory, add new furniture lines, pay down debt, and acquire 3.26% of the market share of the residential segment in sales.
Jason and Regina feel starting their business with no plan or funding, along with competition from Walmart and other furniture stores added unnecessary obstacles to their growth, whereas if they had attended the NxLevel Seminars and had counseling from the onset, they would have been able to succeed sooner.