“I had no business management experience when we started the company.
I learned as we went, but after working with Northern Initiatives, I realized there are ways of doing business that lead to quicker – and less stressful – success.”
– Crystal Dale, co-owner of Superior Stoves & Fireplaces
In 2006, Matt Dale, a certified mechanical contractor, saw an opening in the regional market for a business that would provide sales, installation, and service of gas and wood fireplaces. Dale had several years of experience and contacts in the industry. He and his wife, Crystal, opened Superior Stoves & Fireplaces and in a short time, business was booming. Crystal came on board to manage retail and administration.
Over the years, the Dales added additional product lines, honed their niche in commercial and residential markets, and purchased a building for their storefront and storage needs. They met their capital requirements through their own cash reserves and a small loan from a traditional lender.
Fast forward to May 2016 and even though the business had continued to grow, managing cash flow was a challenge. Their lender suggested they consolidate their loans and refinance. However, the institution was not able to provide the full financing package so the lender referred the Dales to Northern Initiatives.
Northern Initiatives saw the potential for further growth due to a bustling regional housing market, and the Dales’ experience, expertise, and impeccable reputation. Financing was approved and right away, the business services experts at Northern Initiatives began working with Crystal on inventory and cash flow management.
Crystal says, “I had no business management experience when we started the company. I learned as we went, but after working with Northern Initiatives, I realized there are ways of doing business that lead to quicker – and less stressful – success. For example, I learned that we don’t have to tie up our capital in excess inventory and we can pay down our debt even faster as a result.”
In addition to assistance with financial management, the business services team provided a basic marketing framework. They also helped Crystal create and launch a new website that is driving traffic through their door and sales on the books.
With Northern Initiatives’ support, the business is positioned to help the family meet its goals. The Dales can look forward to a very warm future.