Andrea Gonzalez
Vero Beach, FL (USA)
Role(s):
Founder/Owner/Principal
Huntington Learning Center
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Startup
Location:
Vero Beach
Industry:
Education
Year Founded:
2007
Number Employees:
10-50 people
Description:
November 24, 2008
Overview of business:
Supplemental education for students K-Adult. Core business encompasses instruction in reading, writing, math, study skills, exam preparation and subject tutoring.
Huntington Learning Center is an established national brand. Investment funds are being requested not to build the brand recognition but in order to establish working capital for fiscal 2009.
Fiscal 2008:
I opened my business in October 2007 and signed a 5 year lease with no anticipation of the current economic downturn. During fiscal 2008 I was able to sustain a high lease monthly payment, paid salaries to full time staff and part-time teaching staff, as well as investing in marketing efforts for community recognition.
Despite the economy and the fact it was my first full year of operation, I managed to gross $337, 586.43.
Fiscal 2008 analysis:
After carefully reviewing fiscal 2008, I can now identify areas of improvement and have implanted the following changes:
• Renegotiation of lease ( $8500.00 a month brought down to $4500.00 a month )
• Streamlined staff members
• Better understanding of successful marketing in the community
Fiscal 2009:
Cash flow projections are available from 2008 along with 2009 rescue plan/projections
Request amount:
150k – 250k