Minority Entrepreneurs

Dabney Properties LLC Finds Success With SCORE

Meet Slayton Dabney, President of Dabney Properties www.dabneyproperties.com, a corporate housing firm he started about four years ago. His niche is satisfying folks in need of upscale temporary housing. His clients include individuals on temporary business assignments and those who have their job relocated. Also, people displaced due to a property insurance loss, and Virginia legislators while the General Assembly is in session.

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Owner/Founder
Slayton Dabney
My Location
Richmond VA
United States
My Successes

Dabney leases fully furnished apartments and condos at such downtown Richmond addresses as Vistas on the James, the Miller & Rhoads Residences, and the River Lofts. They also have properties listed in Richmond’s West End as well as Fredericksburg and Charlottesville.

Dabney says “I wanted to own investment property. When I was still working at IBM, I bought a townhouse and lived in it for
6 months. I furnished it and set it up to be a corporate unit. I advertised on Craigslist and an executive from Mead Westvaco contacted me, and signed a 6 month lease.”

Ownership is expensive, so the majority of properties are rented by Dabney Properties from property management companies
or their owners. Dabney then furnishes the apartments and subleases them to their clients. “Right now we have about 50 individual units, and all are rented”, says Dabney.

What's Great About My Mentor?

Dabney, age 33, received his master’s degree in business from Georgia Tech and completed his undergraduate studies at the University of Virginia. He says “Initially a financial advisor and friend suggested I contact SCORE for guidance. In 2007 I called the Richmond SCORE office and was referred to counselor, Hank Farrell. At the time my business was less than a year old and Hank and I met several times. He offered me good advice in creating a viable business plan, website and promotional literature”. 
“I came to realize it was important to have a business line of credit if I was to continue to grow the business. Although the economic climate was deteriorating, we were able to secure a fairly substantial credit line from two banks”.

How SCORE Helped

“Hank Farrell has proven to be a real friend. I have always felt like I could pick up the phone and Hank would be willing to meet with me at a moments notice. Dabney properties is grateful for the support we have received from the Richmond SCORE Chapter. You have made a real difference”, states Slayton Dabney.

Memphis Best BBQ-National SCORE Success Story

As a young man I started researching how to write a successful business plan and what you need to get going. Several years before I retired from the Marine Corps, I relocated to Peoria Arizona. I had heard from several friends in Okinawa, Japan, that Phoenix was the new place to be and that it was growing faster than any other state.

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My Location
Buckeye AZ 85326
United States
My Successes

So I decided to take a trip to the area from Japan and check out the real estate. It caught my eyes and so my decision was to sell my condo in California and purchase in Peoria. I moved my family to Peoria and remained in California to f inish out my term. Doing this time I was zeroing in on my dream. I continued working on my business plan and attending numerous business classes and seminars offer in San Diego, California. Every time people would ask what type of business I was opening and I mentioned BBQ, their eyes would light up.

What's Great About My Mentor?

This was my personal reward for all my hard efforts and it has paid off. My restaurant is doing great and we are approaching the one year mark. Thanks to Jim Batz and all of you at SCORE and Marva Booker at Wells Fargo Bank. It's God that knows I wouldn't be here if it wasn't for these great people. 

How SCORE Helped

Goodyear had a SCORE Counselor. I called and made an appointment and met Mr. Jim Batz. I remember that day very well because of his face and his look as I introduced myself. I think he immediately felt sincere about my business plan and immediately went to work counseling me on my vision and what I needed to do before going to a bank. This was a well-executed effort for over two years working with Jim. My last meeting with Jim was simple, “Okay, what else do you need from me”, were his words. “I think you are well on your way. Keep
me informed.” I also attended the Self Employment Loan Fund course at Glendale Community College.

New-Age Preparatory Academy Finds Success With SCORE Mentor

Tanya and Chris Furlow had a passion to create a quality day-care center in their community.  This husband-and-wife team planned to combine their talents, Tanya bringing her experience in childcare and Chris his experience in building renovation.

In 2005, they came to SCORE seeking advice on how to develop a business plan for their day-care facility.  However, their plan required a substantial amount of money since they wanted to purchase a building on a spacious lot. Their primary counselor was Kisoon Park who introduced another SCORE counselor, John Costello, to help them with the financial section of the business plan.

www.newageprep.com

Owner/Founder
Tanya and Chris Furlow
My Location
8938 S Cottage Grove Ave
Chicago IL 60619
United States
Employees
16
Year Company Formed
2006
My Successes

Their loan application was approved later that year, which Tanya and Chris attribute to the strength of the business plan that SCORE helped them develop.  They believe that in-depth demographic research combined with detailed competitive analysis for each and every day-care center in their target market was a key to their success in obtaining the loan.

Building and facility renovation took almost two years to complete, and the New-Age Preparatory Academy opened its doors in late 2007. 

Tanya and Chris’s strong business plan, close teamwork and meticulous execution paid off.  New-Age has already opened a second location and total enrollment in their academy reached over eighty children by late 2010.

What's Great About My Mentor?

“SCORE counseling helped us in doing detailed market studies with emphasis on competitive analysis," say Tanya and Chris. "This enabled us to develop business strategies that separate us from the competition and, most importantly, helped us in securing the building loan.  Working with SCORE counselors over a period of time helped us in the successful implementation of our business plan.”

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