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| <p><strong><em>Success Story</em></strong></p> |
| <p><strong>PRESS OFFICE</strong> </p> |
| <p>INCLUDEPICTURE "cid:image002.gif@01C36576.4032C040" \* MERGEFORMATINET </p> |
| <p><strong>Release Date:</strong> May 5, 2006 <strong>Contact:</strong> Susan Baxter (205) 290-7101 ext 230</p> |
| <p><strong>Release Number: </strong>PR AL 06-15<strong>Internet Address: </strong> HYPERLINK "http://www.sba.gov/al/" http://www.sba.gov/al/</p> |
| <p><strong>Small Business Owner Provides Economic Boost Hometown</strong></p> |
| <p><strong>Despite Base Being Shuttered</strong></p> |
| <p><em>Sidney Tyus</em></p> |
| <p><em>Home Room Furniture</em></p> |
| <p><strong>Birmingham, Alabama</strong> – Starting a business at a time when a major employer in the area is shutting down and taking with it numerous jobs is never an easy task. Having the fortitude to continue is an even tougher proposition. This was exactly the scenario that Sidney Tyus faced in April 1998 as he opened a furniture store in Anniston at the same time that Fort McClellan was being shuttered and the jobs and purchasing power sent to another base in Missouri. The loss of jobs is never good for an entrepreneur that is trying to establish, but when the families that the business relies on as consumers of the product are dwindling, establishing a customer base is challenging. </p> |
| <p>Sidney never considered starting the business anywhere else. As a graduate of Anniston High School and Jacksonville State University, his ties to the area are deep and his dedication to a vital business community strong. In fact, he has maintained an involvement with his high school by volunteering in several sports related capacities. He has coached at the local community center and took one team to the state championship, where they were defeated in the final round. Helping children through his efforts in other little league football programs that developed teamwork and competitive spirit among youth has been a source of pride for Sidney. </p> |
| <p>Applying this same competitive enthusiasm to his business has been a hallmark of his success. He has used this attitude to persevere through the larger economic struggles of the area to identify new customers and provide the service to not only bring that customer back in his store, but expand the reach of the business further into the community through word of mouth endorsement. Advertising has been part of his secret to ensure that the community is aware of an independently owned store with a selection that rivals chain competitors, even though repeat business is strong. With the move to the current location about three years ago the expanded venue offered a larger showcase for his product and complimented this marketing strategy.</p> |
| <p>The biggest obstacle that Sidney has faced has been access to capital and having the necessary financial resources. Through his visits with counselors at Jacksonville State University Small Business Development Center (JSU SBDC), some of his concerns have been alleviated. Identifying the need for planning and strategic management that are such integral components of a successful business, SBDC assistance was welcomed. Sidney explored financing for his small business through programs offered by the JSU SBDC and the U.S. Small Business Administration (SBA). One of the programs available for the working capital needs that he recently discussed with a counselor was the Community Express Loan. The closing procedures were streamlined with all closing documents administered through a consultant with the JSU SBDC. He saved valuable time and avoided multiple trips to a lender.</p> |
| <p>Having resources that can assist a small business person has been comforting. Like most entrepreneurs that are immensely familiar with their customers and product, talking to others and utilizing their expertise allowed him the opportunity to focus on what he does best – providing a good product at a competitive price and standing behind the sale. Sidney’s competitive spirit shows when he states that yes the business is doing well but he thinks it can be better. According to Sidney, he is “very proud to be part of the community and being an entrepreneur within an industry that he holds dear.” Success, of course, is a relative term, but Home Room Furniture epitomizes the desire and ability of an individual to bring a personal and business goal to fruition. </p> |
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| <p><em>For more information about all of the SBA’s programs for small businesses, visit the SBA’s extensive Web site at HYPERLINK "http://www.sba.gov" </em><em>www.sba.gov</em><em>.</em></p> |
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