Restaurants and Hospitality

The Peacock Room Succeeds By Using Advice From SCORE Mentor

Detroit was one of the areas hit hardest by the Great Recession. The auto industry that held the city together was hanging on by a thread. The town went from being one of the biggest in the nation to having a population less than Columbus, OH. Normally this wouldn’t be the backdrop for a SCORE Success Story, but that is exactly what happened when Rachel Lutz found SCORE. Rachel began meeting with SCORE mentors about her idea for a clothing accessory boutique after she opened the doors to the Peacock Room in late 2011. She then attended workshops on Business Plans and Financing. With advice from SCORE and help from friends & family, Rachel was able to turn the Peacock Room into a smashing success in 2012.

 
Owner/Founder
Rachel Lutz
My Location
15 E. Kirby #110
Detroit MI 48202
United States
Revenue
330,000
Employees
7
Year Company Formed
2011
My Successes

The biggest success for Rachel Lutz is becoming her own boss. She believed in herself and took the risk that her vision for a business would pay off. In less than a year she found that she was right. She found a building in mid-town Detroit and has been able to use her store front to turn a profit that was triple her original projections. By the end of her first year she is on track to do $330,000 in sales. As 2012 came to an end Rachel had already begun to expand into a neighboring space with a second store called, "Emerald". The new shop is a gift boutique that carries men's gifts, books, cards, etc. Both stores have become vital parts of the rebuilding mid-town Detroit community. She credits part of her success to working with her SCORE mentors, Henry Moses and Jim Muir. 

What's Great About My Mentor?

Henry Moses and Jim Muir, mentors from the SCORE Detroit chapter, met with Rachel Lutz after she opened the doors to the Peacock Room. Rachel was told about SCORE by a loan officer. A few weeks after opening her business she was face to face with her SCORE mentors, who helped her figure out the best ways to ensure a successful launch. She then began to attend the SCORE Business Plan and Financing workshops. Working with SCORE, Ms. Lutz was able to iron out the wrinkles in her plans for the Peacock Room. With the help of SCORE, she finds herself on the way to a profitable first year. One so success that she has already begun planning the expansion of the Peacock room into a building the size of the Nordstroms she used to work at. 

How SCORE Helped

Before starting the Peacock Room, Rachel Lutz worked for a luxury home store and Nordstroms. She had spent years working for others. Eventually Ms. Lutz decided to be her own boss. After starting her business, the first step to success was to find assistance by coming to SCORE. Rachel was directed to SCORE by a loan officer in her area. 

She met with Henry Moses and Jim Muir, then attended a SCORE workshop on Business Plans. Ms. Lutz wrote up a very good business plan and continued to update it as she went through the start-up process. Finally, while continuing to work with her mentors, she attended a SCORE workshop on Financing for her business. 
 
Using credit cards and interest free loans from friends and family, Rachel was able to open the doors on the Peacock Room in mid-town Detroit. She took a 2,000 square foot building in Detroit and turned it into her vision. With the help of Facebook and a website, she has promoted her business and is on the way to turning a profit in 2012 that is triple her original projection from her business plan.
 

Bonnie Copeland

Bonnie Copeland

Current City: Costa Mesa, CA

Business plans, start-ups, finance, financing, financial projections, cash flow, budgeting, intellectual property, troubled business turn-arounds, retail, sales, manufacturing, entertainment, insurance, environmental industry and non-profits. I began my business career by starting a retail ski shop. I built it to $1 million in sales as the ski industry boomed. When my daughter was born I sold the ski business and became a stay-at-home mom entrepreneur, selling custom portraits of children and pets through mail order and specialty shops (that's yesterday's equivalent of an internet business). I sold the portrait business after five years and entered the University of Pittsburgh M.B.A. program, majoring in Accounting and Finance. I graduated Magna cum Laude and I worked as Assistant Controller and Systems Analyst for a large industrial foundry and rolling mill in Eastern Ohio. Two very cold winters later I moved to Southern California to be Project Financial Analyst and Internal Auditor at Hughes Aircraft. I moved to Disney to manage the financial affairs for several divisions at the park as well as the construction of Thunder Mountain Railroad. I left Disney to work as a Special Projects Consultant for Shell Oil, then spent 11-1/2 years at Digital Equipment Corporation. At DEC I worked directly with the Western Vice President of Sales, managing the budgeting, reporting, and awards programs for a 300 person sales force. I also served as executive partner to several aerospace and banking companies, wrote the strategic plan for a new $50 million venture, served as national training manager for the Finance and Accounting organization, and as training liaison between Finance and Accounting and the sales group. In 1992 I took early retirement and became a SCORE volunteer. Currently, I work part-time doing marketing, accounting, and financial planning for a small family owned firm. I also consult periodically with the Cal State Fullerton School of Business Entrepreneurship program and run three small businesses: consulting for several former employers, art beading and freelance writing

Resume

Education

BA, University of Pittsburgh, Cum Laude -- Studio Art Major, Theater and dance minor MBA, University of Pittsburgh, Magna Cum Laude, Finance and Accounting. 5 time winner, Chapter Cyber Counselor of the Year Award. Over 20 years as a SCORE mentor.

Bennett Hoffman

Bennett Hoffman, headshot

Bennett Hoffman

Current City: Clearwater, FL

Mr. Hoffman has expert experience with independently owned Restaurants, Coffee Shops, Major Restaurant Chains, Fast Food, Quick Serve, in addition to many other aspects of the food service Industry. Mr. Hoffman is an expert in writing business plans, operations control & analysis, startups, food and beverage control, systems, procedures and financial analysis. Mr. Hoffman developed the Business Viability Program (BVP) a program to determine the viability of prospective new and existing businesses.  Also the Business Financial Program (BFP) to create the financial data for a business plan. Originated and implemented computerized hourly labor cost containment systems and controls.  Mr. Hoffman has specific computer/software development and application experience in demographic analysis, Pro-Forma P&L's, Business Plan development, menu creation, recipe development, food and beverage purchasing and inventory control. Mr. Hoffman developed computer/software program applications for budgets, cash flows, pro-forma P & L’s and other financial tools for operations analysis. Developed and written operations manuals and procedures and has developed and implemented detailed cost controls for food and beverage.

Resume

Education

<p> <span><font color="#000000">Attended; the School of Hotel and Restaurant Management at the University of Denver, Denver, Colorado, majoring in Hotel and Restaurant Administration. H<span>e holds a Bachelor of Science in Business Administration from The School of Commerce at New York University, New York, N.Y.</span></font></span></p>

Philip Greene

Philip Greene

Current City: New Rochelle, NY

Expert in Business Start ups, Buying and Selling a Business, related Business Valuation, Business Plans, Business Legal Forms, Obtaining Financing.  Specialize in Restaurants, Retail, Medical Services, Manufacturing and Natural Resources.  1965 to 2003 W.R.Grace & Co. Corporate Vice President of Finance. For last 25 years negotiated worldwide acquisitions and divestment's of various businesses ranging from $25 million to over $1 billion. Coordinated due diligence, both in house and third party, including work of independent accountants, investment bankers and attorneys. Negotiated financial and purchase price sections of relevant agreements and reviewed other documents. Resolved all post closing purchase price adjustments and business issues. Worked closely with investment bankers in achieving corporate value objectives.  Director of Internal Audit for two years.  Prior to 1980 was responsible for both internal and external world wide financial reporting. Corporate business plan and financing initiator. Start up business initiator. 1960 to 1965 PriceWaterhouseCoopers LLC. CPA

Resume

Education

Columbia University Graduate School of Business. MS degree in Accounting. University of Pennsylvania, Wharton School of Business. BS in Marketing

Tamme Tannehill

Tamme Tannehill

Current City: Louisville, KY
Chapter: Louisville SCORE

Expert in START UP Franchising. Award-winning Entrepreneur with a proven record of driving aggressive business growth and assertively managing personnel and projects to achieve groundbreaking success. Innovative, creative leader who inspires teams to work to their greatest potential. Skilled in cultivating strong business partnerships and establishing brand awareness and recognition.

I have been in the franchise industry for over 16 years.  First as an owner and operator, operating as a Regional Developer multi-unit Franchise Owner for 11 years in 2 franchise systems, with locations in two large metropolitan cities. My specialty was in the areas of operations and profitability.  Then as a Franchise Coach/Consultant.

8+ years as a Franchise Coach, specializing in the process of; due diligence/investigating a franchise, understanding and negotiating the Franchise Disclosure Document (FDD) and Franchise Agreement, Validation Process of franchise systems and their current franchisees to ensure client success and profitability, helping clients secure funding and favorable lease negotiations.

I have appeared in several local and national publications such as USA Today, Business First, Franchise Update, and The Courier Journal for the innovative way I ran my franchises.

In addition to my business ownership and Franchise Coach/Consultant experience, I have an 18 year span in the banking industry that includes work a large Commercial Bank, The Federal Reserve Bank and the SBA. I hold a Bachelor degree in Business and a Kentucky Real Estate license.

I am a past Program Chair appointee to the board of the National Association of Women Business Owners (NAWBO) where I focused on educating women business owners on best business practices. Franchising, Real Estate, Banking, Business Ownership.

Resume

Education

BA Business Administration

Real Estate License

34+ years as an Entrepreneur

How to Drive Traffic to Your Restaurant

I’ve been working in the small business community for more than 30 years, and in all that time, one thing has remained constant: Opening a restaurant is always one of the most popular businesses new entrepreneurs dream of starting. Succeeding with a restaurant has never been easy, and in today’s economy, restaurateurs face some tough challenges.

Norman James Hamner III

Norman James Hamner III

Current City: Gainesville, FL

I am an energetic, detail oriented person and have managed all aspects of the office. I set high personal goals, I am a hard worker, I have a desire to learn, and the ability to work with people from all walks of life.

I have 6 years of administrative and communications experience , owner of several small businesses, more than 11 years in business related fields, and I am continuing to refine my skills through education and experience.

Resume

Education

<p>
<strong>Bachelor of Science in Business Administration (3.94 GPA)</strong>&nbsp;University of Florida, May 2015</p>
<p>
<strong>Associates<strong> in Applied Science </strong>in Business Administration (4.0 GPA) </strong>Santa Fe College, May 2012</p>

Richard Gauger

Richard Gauger

Current City: West Chester, PA
  • 40+ years in food distribution and manufacturing business. 

  • Retired division president of US Foods. 

  • Currently, have an LLC with one client, a group of food companies. 

  • Competencies include:

  1. Business Plan development

  2. Marketing/sales & administrative best practices

  3. New business/project start ups

  4. Business turnarounds

  5. Pro forma budgeting and financial analysis.

Resume

Education

MBA, Finance and Marketing, Keller Graduate School Chicago, IL;  BA, English, Wheaton College Wheaton, IL

Kenneth Copp

Kenneth Copp

Current City: Danville, KY
Chapter: Lexington SCORE

    diversified 40 year business & management experience in purchasing, real estate, college administration & teaching, human resources, event management, healthcare, foodservice and retail. worked for a Fortune 500 corporation, a major university medical center, a local real estate firm, three colleges, and owned & managed a retail clothing store.

Resume

Education

 Bachelor of Arts degree in Liberal Arts: Communication & Mathematics

Master of Arts degree In Business & Policy Studies

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