Headwaters Adventure Co.
“Thanks to Joe, Cornerstone Bank and the economy and travel restrictions, we had our best year in sales, ever! Thanks Joe.”
After having received help from the SBDC during the Carr fire, Bryan knew the SBDC was the one to call on for help when we was looking at purchasing the business he’d been an employee at for years. The SBDC guided Bryan through the maze of financial projections, business plan creation, stock purchase agreement and other required items to get his business purchased.
Challenge
In 2018, the Carr fire brought a halt to tourism and the thick ashy smoke caused sales to plummet. A Headwaters employee, Bryan Anondson, turned to the SBDC for assistance and was able to obtain an SBA-backed emergency disaster loan. This kept Headwaters in business for the hard months that followed. As the region recovered, sales returned to normal.
In 2019, Bryan saw an opportunity to acquire Headwaters and move it to a better location. However, he had little idea how to go about the purchase. Once again, he turned to the SBDC.
Gameplan
In the ensuing months, the SBDC guided Bryan through the maze of financial projections, creation of a business plan, stock purchase agreement and other required items. Bryan’s acquisition was still in progress when COVID hit in 2020, and the SBDC helped him with Paycheck Protection Program and EIDL funding.
Result
By late 2020, the sale had been finalized and Bryan became a business owner. Bryan’s sales rose during the pandemic as locals were able to rent outdoor watersports equipment and get out on the lakes in the region. This, coupled with the guidance provided by the SBDC advisor, enabled Bryan to move the business to the edge of Kurtas Lake near the Sacramento River.
