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.
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.
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.
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.