Queen Bee Collectibles: Collecting Business Success

 Melissa Stover and her husband reside in Beech Creek, Pennsylvania. Melissa has always been interested in the arts and crafts/antiques industry. Melissa became good friends with the owner of one of her favorite stores, Queen Bee Collectibles. When the owner of Queen Bee Collectibles decided it was time to retire and sell the business, Melissa knew this was the perfect opportunity for her to purchase the business.

When Melissa made the decision to purchase the business, she reached out to the Lock Haven Small Business Development Center (SBDC) to assist with a business plan and projected financial statements. Over the next several weeks, Melissa and her SBDC consultant worked collaboratively to prepare Melissa to meet with Jersey Shore State Bank.

When meeting with Jersey Shore State Bank, the bank was only interested in financing 80% of the valuation of the building. At this point, Melissa was worried that she would not have the funds for the remaining 20% of the building and to purchase the equipment and existing inventory of the business.
 
Her consultant recommended looking into the county loan programs in the area to pair with the loan from Jersey Shore State Bank to cover the remaining balance of the building and half the value of the inventory. After tweaking the business plan, Melissa pursued the Clinton County Enterprise Development Zone Program. Once she received the news that she was approved for the loan, Melissa was then able to cover the remaining inventory, equipment, and closing costs from her personal funds.
 
Melissa has created opportunities for other entrepreneurs in the same industry as well. Melissa renovated and partitioned the basement for rental spaces. Artisans from across Clinton County quickly became interested in renting the spaces to display their work. The types of products in the rental spaces includes anything from custom made cutting boards to handmade seasonal crafts.
 
Not only has Melissa made a difference by keeping the doors to this amazing business open, she has opened the doors for others who share the same passion as she does. During the Grand Opening held on October 1, 2016, the parking lot was full and customers lined up waiting for the doors to open.