We would like to thank Lac La Biche Community Futures for supporting our efforts to grow our business in Lac La Biche. We were able to expand in 2012 by building a third set of larger storage units to meet the needs of the region’s clientele.
Our family has lived in Lac La Biche since 1992. Community Futures has been helping other businesses in our region grow for many years and it was a natural move to approach them with our business growth plan. They were very helpful in providing an efficient and expedient approach to securing the financing required for the second phase of our Self Storage business.
The added business rigor and acumen that Community Futures staff provides during the loan process has helped to add confidence to our whole investment in this business. For me and my family, this has been a very large undertaking with regard to the overall capital investment and risk. It takes time to build a successful business from scratch. We developed a strong business plan back in 2008, when personal need for self-storage space was not available in Lac La Biche, unfortunately traditional banking establishments would not entertain the investment at that time due to lack of personal cash flow. We eventually began with a Business Development Canada loan to start the first phase of 48 units in 2010. There has been a great deal of sweat equity in addition to the debt risk that I secured through remortgaging my property. Richard has been instrumental bringing Lac La Biche Self Storage to fruition, including the labour to erect the buildings. Anika oversees the day to day management which has enabled us to become a going concern. Help and support from friends and family has been awesome.
With the current regional growth we are hoping to expand with phase 3 by 2015. The current property at 34 Nipewan Rd in the industrial park on the east side of town will accommodate our future growth plans. With high level security systems, 24/7 access, our clients range from apartment residents who need a bit more storage space on an annual basis, to full households waiting to move into their new homes. Associate entrepreneurs and even some larger companies are utilizing larger units for excess stock and easy access to secure storage.
As a family based business, just starting out, we know we need to be patient in our growth plans. Our dream is to reach a cash flow level where it will be realistic to pave the property for the convenience of our clientele. The north is the north and I believe we all have that pioneering spirit to endure and succeed. It is thanks to Community Futures that we will achieve a successful and sustainable business here in Lac La Biche.