Success Story for:
John L. Pointer of Sears Home Town Store
Mr. Pointer first contacted the Tennessee Small Business Development Center (TSBDC) in Columbia in February 2013. The owner of the Columbia Sears Home Town Store wanted to sell the store after her husband’s death. She and her husband had opened the store three years earlier and had used TSBDC services and recommended that Mr. Pointer contact us. Mr. Pointer was experiencing difficulty in securing financing for the purchase of the store. Mr. Pointer had a long relationship with a local bank and had been turned down for the loan. Columbia TSBDC staff reviewed Mr. Pointer’s business plan and outlined ways to improve the plan and suggested the inclusion of an executive summary. Columbia TSBDC also reviewed with Mr. Pointer the main points considered by financial institutions when making a lending decision and encouraged him to review his credit report and make sure there were no errors. Mr. Pointer was very enthusiastic about how glad he was that he discussed his business acquisition with TSBDC. He received a loan of $125,000 and with $125,000 of personal investment there is a financial impact of $250,000. In addition the five people working at the store retained their jobs.
Mr. Pointer has expanded sales of Craftsmen Tools by dedicating a truck to deliver tools and other purchases to customers. He also expanded his sales base was to create a solid relationship with automotive and machine tech students and instructors at the Tennessee Colleges of Applied Technology (TCAT) across the state. Columbia’s Sears Hometown Store is supplying Craftsmen Tools to some of the TCAT colleges and will make a class presentation explaining their use. Sales of the tools in this store have increased over 60%. John also has created a strong network in the housing industry statewide to sell appliances and mattresses.
John is leading the Sears Hometown Store in Columbia to perform a commercially useful function for the area. He is making a difference in Columbia and the surrounding area.