Marshalltown Hispanic Business Development Project - PowerPoint PPT Presentation

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Marshalltown Hispanic Business Development Project

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Marshalltown's private sector, local and state government, and key community ... 9 Advertise in English (Print: Penny Saver, Radio: 101.1 & 99.5) Employment ... – PowerPoint PPT presentation

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Title: Marshalltown Hispanic Business Development Project


1
Marshalltown Hispanic Business Development
Project A United Business Community,
A Better Future
2
Marshalltowns 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. Marshalltowns 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 Marshalltowns
    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 (n18)?
  • 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
    (n14) 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 (n11) 265K
  • Total Avg. annual sales (n11) 3.1M
  • Total Average of clients (n12)
  • 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 (n18) 65
  • Full time 46
  • Part time 19
  • Employing family members 13
  • Owner and Operator 16
  • Insures employees (n16) 0
  • Total Annual payroll (n13) 716,600

10
Community Relations
  • Know about MACC (n18) 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 (Yes12 /
    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 clients 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,
    quinceaƱeras, 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_at_divsolutions.com
  • c 515-988-5624
  • w 515-277-1693
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