Head: Jodi-Kaye Smith
School: University of the West Indies
Degree: B.Sc. International Relations
Business: Trendy clothes and accessories

Since opening for business nine months ago, Fashionable Yet Honourable has been an invigorating experience.

The biggest obstacle faced, however, was getting certain aspects of the business formalised.

For example, my silent business partner and I set out to open a company bank account, but found that we needed several supporting documents, such as proof that the company had been registered and that we were contributors to NIS and NHT, together with references.

It eventually took us four months to open an account because we did not have the concentrated time to devote to getting that task done.

This showed us that a small business operator needs to put aside time and money to get all the relevant documents in place as a prerequisite to properly setting up a company.

Over the period since we have been in operation, we have esta-blished a niche market for our pro-ducts through the church community.

In fact, the idea for this clothing supply business came through queries - primarily from young church-going women - who were seeking outfits that were modest, yet fashionable.

So, our main support continues to come from that market.

Whereas the Sunday Gleaner series propelled us faster than our direct marketing plan could have, we still sell mostly through personal contact.

We have had great feedback from the newspaper articles, with several women asking whether we cater for them, and men requesting that we consider including outfits for them in our inventory.

We continue to operate from my family house, but we have been offered office space. However, we are not sure at this point whether we want to operate a store front.

Biggest stock so far

Our most recent stock - the third since setting up Fashionable Yet Honourable - has been the biggest so far. We have bought about four times the number of outfits that comprised our previous inventory and our clients seem particularly pleased with the present range we have for sale.

In fact, they believe that we have become even more aware of what they want, considering we now carry a wider range of dress sizes.

We are also considering the possibility of becoming the local wholesale distributor for a particular U.S. brand of T-shirts, which feature Christian messages. This would help to drive expansion of our offerings to include casual and men's wear.

The initial investment of $250,000 was matched with equity from my partner, who has equal share in the business.

A portion of the funds financed the acquisition of stock, including importation, and various operational expenses.

As we are not operating out of a storefront at present, we did not have to use the funds to pay rent or utilities.

Of the total investment made, an estimated 68 per cent was used to purchase inventory, with the remaining 32 per cent used for operational expenses.

We are in the process of doing the necessary accounting to ascertain the final financial position of the company. We do, however, have a positive cash flow. As would be expected with any new business, making significant profit will take some time.

Fortunately, we have not had to take out any loans. Whenever additional financing was required, contributions were made either through equity or from revenue earned by the business.

To date, approximately 49.26 per cent of the grant received from Churches Cooperative Credit Union has been used.

Our revenue increased over the past months but our present policy is to reinvest all the earnings into the company. We continue to put our capital mainly into stock and storage items.

Recently, an opportunity arose for us to supply our products to a growing market in St. Elizabeth. This lucrative market has come about through the savvy of a sales and marketing representative who has brought in good business. However, while we enjoy that positive response, we do not wish to lose the personal approach which comes through the clothing parties which we host.

Our vision for next year is to expand our line to include male clothing and accessories, while developing our expertise as buyers.

But we want to grow at a steady pace, while prayerfully preparing and pursuing our vision with purpose and passion.

Nathalee Dixon models one of her creations.

Head: Nathalee Dixon, CEO
School: Northern Caribbean University
Degree: B.Sc. management studies Business: Manufacturer of ladies' clothing

For Dixon's Creations, there were more opportunities than challenges during the period under review. Looking back, the challenges were more perceived than real and seemed centred on fear of the unknown, with the resultant tension and apprehension about stepping into new territory.

But, I knew that had I not stayed the course, I would have continuously asked myself 'What if?'

There was lack of focus at times, but the boost came from constant review of my business plan which helped to remind me of my dream and what I wanted to achieve.

Then there was the challenge of limited work space. Working from home meant that I had to be creative in how I used the designated area for my business.

I formulated a roster as to how and when to carry out such tasks as cutting and sewing, making sure to maximise the time when family members were out of the house and to work during daylight hours so as to preserve my eyesight from the strain of indoor lighting at nights.

Colour-coding the fabrics also helped, in that I would begin the day by working with fabrics in darker shades first when the natural light was at its brightest.

The opportunities, however, outweighed the inconveniences.

High on the list of those opportunities has been the interest displayed in my work by one of the island's leading modeling agencies, Saint International, an I am yet to show my creations on that agency's runway, executives of the organisation continue to offer guidance, as I prepare to make my debut.

Bulk cutting

In fact, I have already created one line for their review.

The connection I have made with HEART/Garmex has opened my eyes to an efficient way of preparing several outfits from one line of clothing, by using their services in bulk cutting from patterns. This could be integral to the growth of my retail line and is an idea that I am pursuing. I want to create a series of male shirt designs as well, as I think there is a ready market.

Dixon's Creations was started with the $250,000 cash grant from Churches Cooperative Credit Union, along with the machinery, tools and equipment, stock and inventory items I had on hand.

The value of all these items was in the range of $70,000-$80,000. However, shortly after starting the business, I received additional inventory from a relative, valued at nearly $20,000.

The money received was spent as follows:

The balance has been saved and will go towards the purchase of additional machinery.

I did not begin to realise revenue until earlier this year, so the business did not make a profit in the first year of operation.

In fact, I received a loan in February of this year, which should be cleared by January 2008.

While my mainstay continues to be revenue from custom designs, my artistic side beckoned during the summer months, which drove me to begin creating one-of-a-kind wedding stationery.

While researching on the Internet for a printery that could produce a finished product to my specifications, I got a response from a U.S.-based operation and I am now preparing to send off a sample of the stationery design for the special treatment.

My plan is to launch this product by January.

Then, if that were not enough, as a result of the Sunday Gleaner's series of articles on the Churches Credit Union's entrepreneur awardees, Heart/NTA asked me to prepare a training manual for a section of the institution's fashion curriculum, which is pending.

Revenue from my business remained flat as I focused on custom-made clothing for a small clientele. However, through the mentorship of Elon Beckford, I am reminded that, as entrepreneurs, we have to give ourselves enough time for the revenue stream to increase, since, with some services the gestation period is longer than the service providers anticipate.

After one year in business, I am less fearful than I was when I started. My motivation level has increased and I look forward to the growth which will come.

Janet Johnson (left), founder of Food Express Delivery Services, is seen here with Nathalia Robinson.

Head: Janet Johnson, founder and CEO
School: University of Technology (UTech)
Degree: B.Sc. Business
Business: Multi-convenience food service provider

The idea for the introduction of a virtual restaurant, Food Express Delivery Services (FEDS), was formulated in the classroom at the University of Technology by a group of final-year business students, led by Janet P. Johnson, who were expecting to get a top grade for their out-of-the box idea.

It worked. Not only was the idea considered among the top three final projects, it was selected for the 2006 Churches Cooperative Credit Union Entrepreneurs award from among business plans submitted by budding entrepreneurs from UTech - thereby securing a $250,000 grant to be used as start-up funding for the prospective business.

From dream to reality

The time eventually came when that dream had to be translated into reality.

The business got off to a slower-than-expected start because restaurant owners who, when interviewed for the school project, had said they would participate if given a chance, no longer appeared to be as enthusiastic about the idea when FEDS was launched. However, through savvy marketing and a determination to succeed, the company secured several individual orders, together with a major contract from one service club to supply meals for a special programme for which the club provided support.

Unfortunately, some challenges arose, which led to termination of the contract and the matter had to be settled, eventually, through arbitration.

With all these challenges, the projected revenue from the virtual restaurant could not be realised.

And as often happens with the best of business projects, the managers had to assess how they could adjust the service being offered in order to respond effectively to a variety of market forces.

The management team, therefore, implemented a strategy which saw the organisation becoming involved in other forms of delivery and soon introduced a bearer service.

This generated interest from several organisations, with one of the island's leading businesses signing a contract with Food Express Delivery Services to deliver hundreds of letters to members.

Hit a snag

In addition, the company worked with the organisers of Cricket World Cup 2007.

However, the company soon hit a snag because of its original business decision not to invest in the purchase or leasing of vehicles to be used in the delivery process; they had, instead, opted to hire private delivery personnel who owned their own vehicles.

Use of that option - which saw the vehicles of some contractors frequently involved in traffic accidents or experiencing mechanical difficulties - meant that the service could not be as reliable as the principal wished it to be.

At that point, the management team of Food Express Delivery Services took the decision to acquire its own vehicles to better control operational efficiency; however, the team was unable to raise sufficient funds to make that possible.

This development has forced the small-business operators to rethink their overall business approach, as they set their sights on raising private capital.

The concept of a virtual restaurant is still alive and well.