1 / 14

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

Marshalltown Hispanic Business Development Project A United Business Community, A Better Future. Marshalltown’s Hispanic Population. Marshall County 2004 estimates: 4,800 / 12.2% of the population Steady movement into other sectors: Restaurant and Hospitality Construction and Landscaping

nadda
Télécharger la présentation

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

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

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

  2. Marshalltown’s Hispanic Population 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 ?????

  3. 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

  4. Phase I Timeline: 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

  5. 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 29 Auto Repair, Tires, and Towing 10 18 Restaurants 9 16 Food Products (“groceries”) and Services* 6 11 Entertainment, dancehall 4 7 Construction and Painting 3++ 5 Food Products and Bakery 2 4 Laundromat 1 2 Auto Insurance Provider 1 2 Hair Stylists and Barbers 0 0 Hotel/Motel 0 0 Other (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.

  6. Survey Results • Business Start-up Characteristics • Sales and Marketing • Employees • Community Relations (MACC)

  7. Start-up Characteristics Where 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) $1.1M Utilized personal savings and/or family loans 17 Applied for bank loans for start-up/expansion 10 Bank rejected loan application 6 Returned to same bank (or other) and received loan 7 Previous Experience owning a business 7 Developed a Business Plan before starting 0

  8. 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)

  9. 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

  10. 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)

  11. 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

  12. 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.

  13. 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….

  14. Max Cardenas Diverse Innovative Solutions, LLC. 107 E 5th Street, Suite 203 Des Moines, IA 50311 cardenas@divsolutions.com c: 515-988-5624 w: 515-277-1693

More Related