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He opened the shop on a shoestring. He had enough money to buy three guitars for the window, but he beefed up the display by putting five of his own guitars behind them. "And as soon as I sold my first guitar, I bought two more. I had six different brands of strings, and only one of each, so as soon as I sold a package, I got another pack. It went that way for the first three or four months until I had a decent stock."
Three years down the road, thanks to the confidence of Community Futures and his own hard work, the shop is thriving. Today he sells guitars, basses, amps, some keyboards, drums, hand drums, accessories, and "The World's Coolest Guitar Strings", his own brand. He also sells retro and imported candy, which is a perfect fit for the market.
And despite also serving on town council, the single father finds time for a weekly "adventure" in town or out of town with his son Sasha. Sasha also spends a lot of time at the shop, and is a budding musician himself, having recently taken on the piano.
Edney speaks to high school students taking entrepreneurial studies, and his advice is sound for any potential entrepreneur. "It's important that your character defines your store, but before you open a store, determine the need and the market. Too many people open a store because they've always wanted to. But if you open an antique store because that's what you want, and there's no need for it or demand for it, you're not going to be in business for long."
GRANT WATCH
A group of 46 Atlantic Canadian companies and organizations recently descended on Miami, Florida, to participate in a Team Canada Atlantic (TCA) trade mission.
“Exporting is key to business success for Atlantic Canadian companies and to economic growth for the region,” said Minister of Foreign Affairs, Peter MacKay. “With exports creating one out of every three jobs in Atlantic Canada, trade and investment activities are essential to our economic growth. Team Canada Atlantic strengthens the trade and investment relationship between Atlantic Canada and the United States.”
Companies and organizations participating in the trade mission met with businesses and industry leaders in a number of sectors. The Florida markets offer export opportunities in the areas of advanced manufacturing, including aerospace and defence; agri-food and seafood; building and construction products; consumer products; information communications technology; life sciences; and ocean industries, including boat building. Eleven previous trade missions – to the New England states, Atlanta, New York, Washington D.C., and Chicago – have helped 360 Atlantic Canadian entrepreneurs to meet with close to 3,000 agents and business owners from across the United States, resulting in export sales of more than of $37 million.
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