marshalltown hispanic business development project a united business community, a better future

14
Marshalltown Hispanic Business Development Project A United Business Community, A Better Future

Upload: melina-tyler

Post on 25-Dec-2015

212 views

Category:

Documents


0 download

TRANSCRIPT

Page 1: Marshalltown Hispanic Business Development Project A United Business Community, A Better Future

Marshalltown Hispanic Business Development Project

A United Business Community, A Better Future

Page 2: Marshalltown Hispanic Business Development Project A United Business Community, A Better Future

Marshall County 2004 estimates: 4,800 / 12.2% of the population

Steady movement into other sectors: – Restaurant and Hospitality– Construction and Landscaping– Other Services

MANUFACTURING, HEALTHCARE, CUSTOMER SERVICES

ENTREPRENEURSHIP ?????

Marshalltown’s Hispanic Population

Page 3: Marshalltown Hispanic Business Development Project A United Business Community, A Better Future

Business brings a community together

PROJECT VISION

• A unified Marshalltown business community

• Hispanic Small Business owners make significant social and economic contributions to the greater Marshalltown community. Marshalltown’s private sector, local and state government, and key community organizations are working together to support the development of all small businesses.

• Marshalltown becomes a national model for Hispanic small business integration and development

PROJECT MISSION

Development and integration of Marshalltown’s Hispanic-owned businesses through adequate

resources and technical assistance

Page 4: Marshalltown Hispanic Business Development Project A United Business Community, A Better Future

Phase ITimeline: February 1 to May 31st, 2006

Measurable Results: • Marshalltown Area Hispanic Small Business (HSB) Report,

presentation of quantitative and qualitative indicators of HSBs – Start Up Characteristics – Marketing, Sales and Employee data – Community Relations and opinions of MACC

• Comprehensive Database of Registered and non-registered HSBs

• Relationship Building with existing business and identification of 10 potential MACC Hispanic Business Advisory Committee

• SWOT analysis of HSB community in Marshalltown• Community event highlighting Research findings and Hispanic

Small Business Fair

Page 5: Marshalltown Hispanic Business Development Project A United Business Community, A Better Future

Marshalltown Hispanic Small Businesses

• 42 Registered, Operating Hispanic Businesses… and counting• 55 Total… and counting

Business Types Number of Businesses % Retail Services* (clothing, others) 16 29Auto Repair, Tires, and Towing 10 18Restaurants 9 16Food Products (“groceries”) and Services* 6 11Entertainment, dancehall 4 7Construction and Painting 3++ 5Food Products and Bakery 2 4Laundromat 1 2Auto Insurance Provider 1 2Hair Stylists and Barbers 0 0Hotel/Motel 0 0Other (bands, healers, auto dealerships, etc.) 3++ 5 Total 55 99***e.g. money transfer, translation, tax preparation ** Total is more than 100% due to rounding.

Page 6: Marshalltown Hispanic Business Development Project A United Business Community, A Better Future

Survey Results

• Business Start-up Characteristics

• Sales and Marketing

• Employees

• Community Relations (MACC)

Page 7: Marshalltown Hispanic Business Development Project A United Business Community, A Better Future

Start-up CharacteristicsWhere do business owners come from (n=18)?- Mexico, Jalisco 6- Mexico, MIchoacan 3- Mexico, Zacatecas 2- Mexico, Guerrero 1- Mexico, Puebla 1- Mexico, Guanajato 1- Cuba, Havana 1

Total Accumulated Start Up Investments (n=14) $1.1MUtilized personal savings and/or family loans 17Applied for bank loans for start-up/expansion 10Bank rejected loan application 6Returned to same bank (or other) and received loan 7Previous Experience owning a business 7Developed a Business Plan before starting 0

Page 8: Marshalltown Hispanic Business Development Project A United Business Community, A Better Future

Sales and Marketing• Total Avg. monthly sales (n=11): $265K• Total Avg. annual sales (n=11): $3.1M• Total Average # of clients (n=12):

– Weekday: 335– Weekend: 783– Month: 11,802

• 5 have a business accountant• 10 use more than one media venue for

advertisement • 9 Advertise in English (Print: Penny Saver, Radio:

101.1 & 99.5)

Page 9: Marshalltown Hispanic Business Development Project A United Business Community, A Better Future

Employment• Total employees (n=18): 65

– Full time: 46– Part time: 19

• Employing family members: 13

• Owner and Operator: 16

• Insures employees (n=16): 0

• Total Annual payroll (n=13) $716,600

Page 10: Marshalltown Hispanic Business Development Project A United Business Community, A Better Future

Community Relations• Know about MACC (n=18): 10• Approached by MACC: 10• Very important to support Latin Bus: 18• Very important to support Anglo Bus:16• Perceive that regionalism divides Mexican/Hispanic

community: 14• Donated to community: 17

– Mainly church, public schools, the police department, Worldvision, Cancer Society, and the fire station.

• Favorable opinion of MACC: 8• Not very favorable opinion: 6• Would like to Join MACC affiliate (Yes:12 / Maybe: 4 )

Page 11: Marshalltown Hispanic Business Development Project A United Business Community, A Better Future

Key Lessons Learned• Intake interviews should solicit information about the educational and

literacy level. Gauge written materials and verbal consultation accordingly

• Conduct several follow-up visits, personal contact is critical

• Understand the expectations clients bring to consultation process. May explain reluctance to service providers, universities, chambers, SBDCs, banks, and local governments. Be extremely (brutally) honest when doing outreach, under promise and over deliver, there is a lot of mistrust

• Learn about business practice in client’s home country. There are key differences among Hispanics from different regions, especially within Mexico

• Businesses should implement visuals to make businesses more Anglo-friendly, provide a welcoming experience. Adopt sales systems that are more attractive to Mainstream Marshalltown Community. Achieve balance to express business's ethnic uniqueness without appearing foreign

• Approach institutions where the community naturally congregates: churches, workplaces, quinceañeras, soccer games etc. Seek individuals who are known in the community , cold visits have 80% failure rate. Work with family members in the research and implementation process

• Traditional means of advertising in writing and internet do not generally work

Page 12: Marshalltown Hispanic Business Development Project A United Business Community, A Better Future

Phase II Timeline: June – November 2006

Measurable Objectives:

• Partnership with Iowa Valley Community College to provide Technical assistance and Training for start-up and existing businesses in both English and Spanish.

• Tailored Bilingual information Packages for Hispanic Start-ups

• “Registering the Unregistered” Outreach effort: Target unregistered home occupation and provide registration information and assistance.

• Planning and implementation of Marketing and sales integration project between Hispanic Businesses and mainstream consumers. Focus of downtown shops and business in the Mall.

• Provide trainings for MACC member bank, legal, risk management, accounting and other small business service providers.

Page 13: Marshalltown Hispanic Business Development Project A United Business Community, A Better Future

Key Partnerships• Small Business Development Centers / IDED / SBA• Elected Officials, City and County Government• IDED Main street Program, Marie Steenlage• Young Professional Organization (MACC Young Professionals,

Marshalltown Jaycees)• Faith Community, Catholic church and others• Professional Organizations and Citizen Groups (Rotary, Kiwanis,

Optimists, etc.)• Local Philanthropy • Iowa Valley Community College • Marshalltown Established Business Community• Small Business Providers (Banks, Accounting, Insurance, Legal, etc.)• Local Media (Radio, Print, Web, etc.)• Northwest Areas Community Foundation• Community supporters and spokespersons • Other….

Page 14: Marshalltown Hispanic Business Development Project A United Business Community, A Better Future

Max CardenasDiverse Innovative Solutions, LLC.107 E 5th Street, Suite 203 Des Moines, IA [email protected]: 515-988-5624w: 515-277-1693