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Portland Yoga Collective – Portland

Woman Doing Yoga Portland Yoga Collective - Portland - Maine SBDCJess Fadale dreamed of owning her own Yoga studio! The vision was to open a collective of yoga instructors with a variety of specialties, giving their clients a holistic, well-rounded experience. After a decade-long career in sports business, she pivoted her strong marketing and business backgrounds to her passion for yoga. 

Jess is a certified yoga instructor and has been teaching classes for the last couple of years in the Providence and Boston area. She completed her 200-hour yoga teacher certification to share her love of movement with others. “My classes involve building strength, trying new things, laughing, falling down and getting back up.” All things we, small business owners included, need to learn to do more flexibly. Read More

Fryeburg Kitchen and Market – Fryeburg

Tom Sturdevant - Fryeburg Kitchen and Market - Fryeburg - Maine SBDC This pandemic has had us all reassessing our future plans; personally, professionally, and in some cases geographically! Tom Sturdevant and his family decided that relocating from New Jersey to Maine was the right next step for them. Having summered here over the years they were ready to make it home full time and were looking to open a dual restaurant and market. He explored several options before settling on a property in Fryeburg, and when he approached Franklin Savings Bank for financing he was referred to the Maine SBDC for help with his application. Read More

TuneTown Music Gear – Wells

John and Pam Edwards and their dog - TuneTown Music Gear - Wells - Maine SBDCJohn and Pam Edwards have owned TuneTown Music Gear in Wells for 18 years. They brought decades of musical industry experience to a vision of providing positive and nurturing experiences within music instruction, service, and sales. Their business features nine large state of the art lesson studios, a recording studio and a live performance stage. In the showroom, they offer a selection of instruments, keyboards, amplification, PA and recording gear, print music and accessories at competitive prices. Audio visual installations have been designed and completed in schools, churches, restaurants and Pease AFB. TuneTown also provides repairs and maintenance on most instruments and some electronics. Read More

Boosting Small Business Sales During Slower Months

Barn on Frozen Lake - Boosting Small Business Sales During Slower Months - Maine SBDCThis is a challenging time of year for many companies. Sales are down as a result of the COVID pandemic in addition to normal decreases in spending during the winter and spring months in Maine. In this unprecedented time, there are a number of ways to boost sales when you really need it. Read More

Time To Do Your 2021 Taxes!

Paperwork doing taxes - Time To Do Your 2021 Taxes! - Maine SBDCTax season can be stressful, especially after another year dealing with Covid related funding from the PPP, EIDL, state and local grants, to unemployment income and other sources.  While many people procrastinate when it comes to their taxes, the IRS has announced that it will begin to accept returns starting on January 23rd.  For tips on getting your tax returned filed without delays, visit the IRS Website. The sooner you start, the easier (and less stressful) it will be. Read More

Part II – Real Estate Investment and Rental Property Income: is it right for you?

House Model - Real Estate Investment and Rental Property Income: is it right for you? - Maine SBDCMost affordable properties need some help and Maine has the oldest housing inventory in the country. According to the Maine Association of Realtors, the average age of a home in Maine is 42 years. As much as 24% of the housing stock was built prior to 1939.  And although the older homes and apartment buildings have charm, they are more likely to have outdated systems, termite damage, foundation issues, contain asbestosis, and mold.

Shows like Fixer Upper, Flip or Flop, This Old House, Property Brothers, and more have made DIY (Do It Yourself) projects seem romantic and attainable for the average person. In just one episode they can renovate the most dilapidated property and turn it into a desirable piece of real estate. The stars of these series have the skills, education, and financing to do the projects. Many of them are licensed experienced contractors, interior designers, or realtors. Likewise, renovating an older property and bringing it back to its former beauty while doing the required updates can be very gratifying. Read More

Lucinda’s Day Spa & Hair Studio – Cumberland

Store Front - Lucinda’s Day Spa & Hair Studio - Cumberland - Maine SBDCMarissa Elliott has worked at Lucinda’s Day Spa & Hair Studio for nine years, both in management and as an aesthetician, and recently had the unique opportunity to step into the owner’s shoes, as the owner looked to retire. However, the transition itself – putting together financial projections, negotiating the lease, purchase price, and gift card liability holdover, and obtaining the commercial loan – was complicated, with many factors to consider.  She worked closely with Maine SBDC at CEI Business Advisor Raynor Large to carefully think through her options and make sure the business was able to both handle its seasonal fluctuations and service the debt. Read More

Part I – Real Estate Investment and Rental Property Income: is it right for you?

Model home and money - Real Estate Investment and Rental Property Income: is it right for you? - Maine SBDCReal estate is HOT right now just about everywhere! There are many factors contributing including pent-up demand, low-interest rates, and the US savings rate hitting a record high at 33%, more than it has been since the previous high of 17.3% set in 1975, at the same time wages have been rising.

These factors have both experienced and novice investors purchasing single-family homes and multi-units to add to their portfolio and create passive income. But is it right for you? Read More

West Maquoit Vinegar Works – Brunswick

Logo - West Maquoit Vinegar Works - Brunswick - Maine SBDCMaking our resources known and accessible to the small business owners of Maine is a goal of the Maine SBDC, so we love seeing our business advisors customize the help their clients need! We work with all stages of business to help them understand and apply our help. Like Brad Messier and Elizabeth Guilbault, of West Maquoit Vinegar Works, who have been making small-batch craft vinegar in Brunswick Maine, since 2018. Their vinegars are unique in flavors and focused on quality ingredients, many of which they source locally.  Their business has now become a full-time job for Brad who sought out help in strategically scaling up while still working full time. He connected with Maine SBDC at CEI Business Advisors Brad Swanson who helped him identify marketing gaps, specifically with digital marketing, eCommerce, and packaging.  Swanson then introduced Messier to fellow Maine SBDC at CEI Business Advisor Jenn Stein, who specializes in hospitality and food businesses, so they could dive even deeper. Read More

Ignite PI – Presque Isle

Northeast Hotel Ignite PI - Presque Isle - Maine SBDC Clint Deschene began 2020 at MSAD #1 as their Business Manager. As a Rotarian and a staple Presque Isle community member, Clint was no stranger to Central Aroostook and the challenges and opportunities in the region. After a visit with the philanthropic Rodney & Mary Smith Family Foundation, it was clear that Clint would make a transition to formally serve the entrepreneurial community in Presque Isle. After several calls with community stakeholders, Clint got to work with Northern Maine Development Commission, a Certified Community Development Financial Institution and the host of Maine SBDC @ NMDC to create a new foundation and acquire the Northeastland Hotel to convert into a business co-working space and upscale lodging facility for business travelers. Read More