Eric Trice, a twenty-something from Dorchester, Maryland, on Maryland’s Eastern Shore, in the 2+ years since beginning his business has amassed nearly 900 Facebook followers (with 4.5 star-rating), over 1,000 clients served, and a revenue base with margins far exceeding his expectations. He has two full-time employees and is recruiting two employees for current and near-term projected business. He expects to continue to add employees because of future business growth. From beginning with a pickup truck and small trailer, his equipment investment now includes a custom-built flatbed, a custom-built pickup truck and a 16-foot box truck.

What influenced you to seek help from SCORE?:

The online registration for SCORE services began as most. “I have just started a power washing/roof cleaning business. I offer house washing, roof cleaning, gutter cleaning and brightening, deck staining, residential/commercial concrete cleaning, and truck fleet washing. I am looking for advice and help with writing a business plan, setting goals, and growing my business.” So began Eric Trice’s foray into entrepreneurship.

Trice had been employed as a full-time employee of a construction company. He had an arrangement that allowed him to do pressure washing on the side with some flexibility in his core hours at his employment. At the time he was billing enough that provided a good second income but it was significantly less than needed for him to justify leaving his employment and committing to the new business as his full-time work. His early question was “At what time can I logically transition to my own company and make the leap from my steady job?” Based on Trice’s personal needs we calculated that if he had visibility for replacing at least half his income within a few months and with a good growth pipeline, he would make the jump. He made that jump in May, 2016.

Following Trice’s success in applying his energies and acumen to growing the business through good sales, marketing and service, he had to find other employees early-on. As is typical of many of the businesses that rely on unskilled employees, he has struggled to find talent with personal skills, work ethic, and ambition to match his expectations. Staying true to his emphasis on solid customer service, he has only hired employees who share his enthusiasm for the business and his commitment to service, expecting that sustaining growth through high-quality service is more important than revenue growth that might not be sustainable based on high-quality service. He pays more than prevailing market wages for ‘like’ jobs.

Because Trice needed confidence he could do this business full-time based on expectation of revenue and cash flow, we constructed a budget that focused on his business lines by type of job and volume he had done historically and his projection as to what he could generate if he devoted full time effort to his business and implemented the sales and marketing efforts. By the end of 2016, a year and half after making the jump, he had generated revenue that was 325% MORE than his run-rate at the time of his transition. For 2017 he continued to see exponential growth as he has in the first half of 2018. His expectation is that based on the current run rate he will end 2018 grossing nearly 600% of his full-time salary prior to starting his business. After just two years of operations, cash generated from his business is sufficient to provide an income that is a multiple of his previous full-time job, free cash for continued investment in more equipment, and working capital for additional staff to accommodate growth.

He has growth in business sufficiently that he needed to break out residential from commercial clients for marketing and service focus and has considered venturing the residential line with an employee, selling a portion of the residential business, or monetizing all of the residential line allowing him to focus more on the higher-growth commercial line. He and French discussed various M&A considerations including valuations, risk, control, transition structure and other transaction considerations so that Trice would be able to move in a direction that affords him flexibility in deal-making yet mitigates risk through various covenants to be built into a deal.

How SCORE Helped:

Trice’s request for mentoring was sent to Ed French, mentor for the Mid-Shore Chapter that includes Dorchester County where Trice’s business is based. According to French “I saw at our first meeting that Eric fits the profile of a potentially successful entrepreneur and engaged SCORE client. He had a passion for his work, was very customer-centric, by experience demonstrated a strong worth ethic, articulated a vision, and could conceptualize how the business model would develop. And, he clearly showed ambition as well as having generated some income from part-time entry into his new endeavor”.

The first session was by phone with Trice describing his vision for his company and his business anticipated business model. They reviewed the essential business plan components that most directly affected his potential for success. Within a week he sent French a draft of a business plan and a day later Trice was returned a marked-up draft with recommendations that clarified the business model, competitor analysis, customer acquisition, and marketing plan that dealt with sales and marketing. Discussion regarding the operations and business followed the conceptual construct as both knew this not to be a working capital- or major capex-intensive fixed business at start-up because he already had the essential start-up equipment and he was the sole employee. The variable-cost items represented a single-digit percentage and was not material, thus the focus on revenue and managing fixed costs with growth. The focus on sales and marketing recognized that the competition is keen in this business because there are no barriers to entry. Anyone with a pressure washer and a means of moving it around could get into the business without much capital and little risk. They endeavored to position Trice so he could create growth and sustainability through a strong business acquisition and retention model that focused on assumed good service but outstanding sales and marketing. Trice had created a brand with an image, including trade name and visuals.

Following extensive email exchanges to refine the business plan Trice and French met to review the plan and get into the details of a customer pipeline analysis, the SCORE financial projections worksheets, pricing consideration, margin analysis, construct of comparative analyses, and related operating considerations for him to work on as a homework assignment. They did sales role playing for cold calls and reviewed direct and indirect sales methods, specifically planning for a carve-out every day for handling new and follow-up sales calls to be sure they didn’t get lost in the milieu of Trice doing the work and not dedicating time to business development. Trice stepped up to the plate with attention to details and time management so that he could focus on the carve-out time for sales and marketing and ample time for getting the work done.

What’s Great About My Mentor?:

The story for Eric Trice and Absolute Pressure Cleaning is a relatively new story, but after just two years it is a solid growth story that has potential for exponential new business. As he continues to grow his revenues, add employees, and equipment, Trice is confident that he has in a short time created the sustainability that was the goal in the beginning. According to Trice “Beginning a business with no business experience is a challenge and risk. Having SCORE available to lean on for guidance and support, and as a sounding board periodically has provided the ‘how-to’ and the encouragement that made my story a good one. I am excited to see how the next several years develop, expecting continued exponential growth in business and my employment base.”

SCORE Mid-Shore is a non-profit organization dedicated to assisting small business owners and entrepreneurs on the Eastern Shore of Maryland including Talbot, Caroline Dorchester, Worcester, Wicomico and Somerset Counties. SCORE Mid-Shore is funded [in part] through a Cooperative Agreement with the U.S. Small Business Administration.They can be reached at their website here 

Almost every resident of Talbot County knows there is a significant and dangerous epidemic threatening the region. The arrival of COVID-19 on the Eastern Shore has already done considerable damage to both families and businesses, and only through a conscious effort to protect one’s home or store can this severe pandemic be controlled.

But Fred Christie, Easton Utilities’ Chief Information Officer, wants to add to that list of severe threats by including another type of epidemic, that of the rise of cybercrime.

Despite the lack of publicity, cybercrime is growing, not retreating. The use of sophisticated ways to access personal accounts as well as large networks by criminal hackers is posing a significant danger to individuals and companies. Like fighting any pandemic, Fred Christie wants EU customers to be proactive in protecting their accounts and cloud-related assets.

The Spy talked to Fred in the spring about protecting your identity, financial accounts, and other valuable information on the web with some simple, common-sense solutions.

This video is approximately two minutes in length. For more information about Easton Utilities please go here.

Hospitality. It’s at the core of most businesses that deal with the public. At its most basic level, it is conveyed by a warm handshake and a sincere smile. Books are written, and courses are given on reading expressions to interpret a customer’s level of comfort or happiness. So, what happens when faces are partially covered, touching is discouraged, and distance is mandated?

Living through a pandemic has uprooted all business. Many have been able to turn to video conferencing as a way to continue the personal touch. Other, have had to come up with innovative ways to manage inventory and sell product. But what if the product is a luxury hotel? How do you show hospitality, ensure comfort, feed, and entertain your guests even as new rules are being written? If you’re like Lauren Catterton, who rose up the ranks of the hotel business to become the current General Manager of the Tidewater Inn in Easton, you’re up to the challenge.

Noticeably, the hotel/restaurant/bar industry took a significant hit when COVID struck. “As soon as it happened,” said Catterton, “we just started researching as much as possible and rewriting hospitality, because they don’t hand you a book. No one said, ‘this is what you guys are going to do when you reopen.’ We had to make it up on our own. We had also been in the midst of some renovations when it all hit.”

Historically, the hotel does a major renovation every winter, their slow season. However, this past winter was even more special. Besides completing the elevation of the third-floor guest rooms, they were building the carriage house behind the Tidewater House (previously Inn at 202 Dover) and adding the Terrasse Spa to their long list of amenities.

The renovations are now completed, but nothing is now as was expected then. Catterton: “We had to make the properties’ COVID-Friendly’ following all the CDC guidelines. Hunter’s Tavern, the ballrooms, and the Terrace are all on a socially distant floor plan now.” Not only that, if visiting the restaurant, expect to be asked for both your name and your phone number as part of their contact tracing efforts, should they need to get in touch with you.

Weddings will have a different look, as well. Besides the tables being six feet apart, there can be no more than six people per table, unless they’re a family of eight. Cocktail reception and dancing will be done outside.

Remember turn down service? How about having your room cleaned while you were exploring the town? Not anymore. “Guests can call the front desk and let us know anything they may need,” says Catterton. “Housekeeping will put a little bag together for them and leave it on their door. When guests depart, the hotel rooms are left dormant for 24 hours, then we go in, and we fog it with like a, basically Lysol Ghostbuster. Of course, it’s more complicated than that, and we let that sit for another 24 hours. Then we strip it using CDC certified cleaning products. So, the room has to remain vacant for 72 hours before another guest can use it.”

Obviously, the safety of the guests has been a top priority, but there is that ‘hospitality’ factor that can’t be mandated or controlled but needs to be demonstrated in their line of work. Catterton has spent time thinking about how to deal with all of that. “It was the first thing that we discussed when we knew our guests were coming back: how do you let them know that you’re smiling under your mask? How do you project a specific tone of voice because you’re muffled? I think our staff is instinctually warm and hospitable, and I think that’s reflected, whether with a mask on or not. We’re a very small team, and we’ve been through a lot, but we are genuinely happy to do what we do, which is to take care of our guests.”

But it’s not just letting guests know how you’re feeling about them; it’s also learning to read their guests. “We already know when people tell us, ‘hey, I’m smiling behind my mask,’ because we hear it in their voice. But we’ve also had to learn to read people that are cautious and adjust our behavior accordingly, to focus on just making them feel very comfortable.”

Comfort, safety, and new ideas are something the Tidewater is committed to adding to their catalog. They are currently also partnering with the Avalon Foundations on Wednesday evenings through July 8 for a Sunlit Summer Song Series, which features al fresco style dinner and concert.

Then there is Terrasse, which opened just last week. Billed as a full-service spa destination, it offers massages, facials, body treatments, Reiki, etc. It occupies the space originally held by the John Moll Board Room and Dover Club. As promised, everything about it is both luxurious and relaxing. Best yet, you don’t have to be a Tidewater Inn guest to enjoy the services. Keep an eye out for their Locals for Locals special for Talbot County residents and their First Responder discount.

To Lauren Catterton, all these changes are inevitable and not always as planned. But she’s got new ideas and a new mission: “We have to have a different focus. Our efforts are now on recreational tourism and how we can be a more walkable/bikeable community that will bring people in. We are giving a lot of emphasis and energy to the outdoor dining experience and other things that we can do. We’re no longer just Easton focused. It’s what you can do in St. Michaels; what you can do in Oxford. After doing all the wonderful things you can do in the area, you can just stay here with us at the Tidewater.”

Val Cavalheri is a recent transplant to the Eastern Shore, having lived in Northern Virginia for the past 20 years. She’s been a writer, editor and professional photographer for various publications, including the Washington Post.

The Town of Easton announces the groundbreaking of a new industrial park, Mistletoe Hall Commerce-Business Park.  The 86-acre Town owned Mistletoe Farm property located on Goldsborough Neck Road adjacent to the to the Easton Airport has been subdivided to create seven industrially zoned parcels offering a prime location to support new or expanded businesses.

In addition to funding from the Town of Easton, the U.S. Department of Commerce Economic Development Administration (EDA) provided the Town of Easton a $2.2 million grant to support the build-out of critical infrastructure, including roads and utilities.

“We are proud to begin the construction of Mistletoe Hall Commerce Business-Park. This auspicious project would not have been possible without our local, regional, state, and federal partners. It is through this collaboration that we are building a stronger business environment for not only Easton, but for the entire Eastern shore of Maryland.”

In partnership with the Town of Easton, Talbot County applied for and received two Rural Maryland Prosperity Investment Fund infrastructure grants through the Rural Maryland Council to begin improvements to Goldsborough Neck Road to support this project. The road from Glebe Road to the entrance of Mistletoe Hall is being widened and improved to allow for the traffic that will be generated by the property’s development.

Portions of both Goldsborough Neck and Airport roads have been slated for future improvements to accommodate the development of a new regional hospital site off Route 50 near the Talbot County Community Center.

“Talbot County applauds the partnership that has brought the development of Mistletoe Hall to fruition,” says Talbot County Council President Corey Pack. “Working together with our partners, the groundbreaking of this 86-acre industrial park will incentivize local businesses to expand and new businesses to grow and relocate to Talbot County.

Visit www.eastonmd.gov to learn more about other projects and events happening in Easton. Visit www.mistletoehall.com to learn more about this project.