Today, the interior of Barber Jon’s is charming.
From the antique barbershop light to the Vikings football jersey, the friendly, comfortable environment offers standard barbering services delivered with community pride.
But when Jon and Joy Stone first looked at 214 Front Street in Detroit Lakes, Minn., it was a dilapidated building with a hole in the roof. They approached MMCDC and received a loan in June 2013 to purchase and renovate the building.
“MMCDC had the ability… to see that a building like this could be reused,” Joy said. “It didn’t scare them.”
With help from other small businesses, they opened Oct. 21. “The contractors were really, really good and guided us,” Joy said.
They look back on it as a whirlwind of activity, made calmer by a patient loan officer at MMCDC. “She was very good at walking us through the process,” Joy said. “We were very inexperienced – it took some time.”
MMCDC’s loan officer also connected them with the regional Small Business Development Center.
“(The SBDC) was fantastic,” Jon said. Among the recommendations they received was to form a limited-liability company to own and manage the real estate. J Stone Enterprises rents to Barber Jon’s and to another company, which leases two offices within the building.
Jon was experienced in his industry and had a plan in mind but… he needed a Business Plan that included Financial Projections to portray the plan and demonstrate the future financial performance of the business. With that in hand, Jon was able to secure the financing he needed from MMCDC.
Matt Magness, Executive Director, West Central Minnesota Small Business Development Center