Success Story for:
Harold Proctor of The Phoenix 24hr Fitness Center
Harold Proctor came to the Tennessee Small Business Development Center (TSBDC) at Dyersburg State Community College (DSCC) as a displaced worker whose background was farming. He was a fitness enthusiast who desired to begin a new career as an entrepreneur owning his own 24-hour fitness center in his hometown community, Alamo TN. With no job, no capital to begin the venture, no experience as a fitness expert or gym owner, and no business plan, it appeared on the surface that all of the odds were stacked against him. However, what was lurking below the surface, was a client who had more drive and commitment, more persistence and passion, than many who come through the doors of Small Business Development Centers all across the nation.
After hours of counseling and training from the TSBDC, Proctor was able to discover a creative financing means which gave him the collateral necessary to begin approaching lenders about possibly funding the remainder needed. The TSBDC worked closely with Proctor and numerous lenders until he was successful in obtaining the necessary funding to not only open his own fitness center, but to actually build his own building in which to operate it. The TSBDC assisted Proctor with skillset development in small business ownership, creative financing, financial preparedness and management, loan package development, and the eventual launch of the business. To date, the sales projections for The Phoenix 24-hour Fitness Center have exceeded projections by more than 34%. Growth has been phenomenal and the community has embraced this new business with overwhelming support. Projected jobs created were 3 and the actual number of jobs created to date is 5.
I am really pleased with the TSBDC. Maleia Evans, the Center Director, went above and beyond. She helped me get my dream out of my head, into a proposal and onto paper that I could easily present to bankers. She went beyond what I could have ever imagined the level of service would have been from a no-cost service… I am grateful for the services offered by the TSBDC.