SHAPING THE FUTURE OF SMALL BUSINESS

Chopping Through Challenges: How Nick Richards Built Proper 4 with SBDC Support

Nick Richards had one goal that stood above all others: to work for himself. Nick’s dream was to create something unique—a barbershop with a modern twist, where clients could receive a wide variety of services (including full shaves, hair coloring, and catering to both men and women) in a welcoming and social atmosphere. He envisioned Proper 4 beyond being just a barbershop; he plans to eventually enhance it, making the shop a vibrant community hub where people can fashionably relax and socialize.

To turn his dream into reality, Nick sought help from the Small Business Development Center (SBDC). The SBDC played a crucial role in crafting a strong business plan, providing important financial analysis, and offering insight on leasing. RAEDI, along with Collider, a local organization focused on fostering innovation, provided comprehensive support to Nick by navigating local economic resources and connecting him with valuable networks.

The SBDC team emphasized that “there are financial barriers to opening up a business. Nick came to the SBDC with a good understanding of the financial needs to start his company. The SBDC worked with Nick to make financial sense of those numbers,” said Mark Thein, the key advisor at SBDC who assisted Nick.

Brent Kaslow and the Capital General Contracting team were vital to Nick’s journey. As Nick embarked on the buildout of Proper 4, Brent and his team were dedicated to overcoming challenges and ensuring the project stayed on track. They worked closely with Nick to address any issues promptly and provide solutions that aligned with his vision, demonstrating unwavering support throughout the entire process.

For aspiring entrepreneurs considering working with the SBDC, Nick offers this advice: “Start small, save up, and if you can self-fund. It’s a sink or swim mentality, but with the right support, you can navigate the challenges.” The SBDC provides confidential, no-cost consulting services designed to help entrepreneurs like Nick succeed. If you are interested in experiencing SBDC services yourself you can reach out through the website: rochestersbdc.com

As Nick Richards embarks on this new chapter, he looks forward to the small victories that will come along the way, but he compares his journey to a roller coaster ride, knowing he will face tough drops as well. For those interested in experiencing Proper 4, walk-ins are welcome, but appointments are preferred. You can book a spot through their website or connect with them on Facebook or Instagram.

Ryan and Annie Balow recently had one of their busiest weekends ever – Social Ice weekend. The Balows said being the owners of Thai Pop Restaurant in Downtown Rochester has been a whirlwind.

They first opened just days prior to the pandemic shutdown which brought its share of challenges for them. From having a set opening date, to switching to solely take-out, they were determined to make it work. The Balows came a long way to make their dream a reality and failure was not an option. It was just years ago they were doing pop-up events in their apartment. Then moving their pop-up location to Forager Brewery and other places. They spent six years of packing up their goods and utensils and cooking in different kitchens and now have a full restaurant with 40 employees.

Ryan and Annie credit the help of the SBDC (Small Business Development Center) in helping them realize their dream. Particularly, SBDC Consultant Rick Indrelie. Rick has been by their side since the beginning. Ryan initially connected with Rick for loan assistance. Soon it turned into regularly calling for advice, ideas on locations and crunching numbers repeatedly. Rick was able to help them turn their hobby into a business. He gave them the confidence to continue year after year – with just by being persistent in his support.

The Balow’s original dream was to transition from pop-up events to having a 10-table restaurant. Then the ultimate opportunity presented itself. They received a call from a fellow entrepreneur (now mentor and landlord) who had the same passion as they did. The opportunity was for them to take over a very popular corner spot in downtown Rochester. Ryan and Annie never imagined this could even be possible.

Once the building became available, the Balows contacted Rick at the SBDC to once again crunch numbers to take to their lender at Olmsted National Bank. They then met with their accountant at Smith Schafer and Associates. Little did they know that shortly after that, they would be running the “Best New Restaurant in Rochester” which seats 198 people. A tip to the hat for sure! Is it their ‘fresh from scratch’ recipes that made it possible or their great service?

Perhaps it is both.

It is important to them to note that they had help along the way from friends and family. They want to make that clear! One example is their branding and design was all done in- house, by family. They also bartered with those who were willing – genius!

Their day-to-day passion has led them to help others in the local food scene. Those with a dream just like they had. They take pride in providing off kitchen hours to those who do not have access to a commercial kitchen.

Both Annie and Ryan feel it is important to give others the opportunity as that is how they got where they are today. It’s not a

competition to them but rather their pleasure to be able to help upcoming entrepreneurs.

Thai Pop Owners: Ryan and Annie Balow

4 Third St SW, Rochester, MN 55902

www.thaipopmn.com