Ashley Eisenbeisz first approached the Alaska Small Business Development Center in Juneau as she and her husband, Steven, prepared to purchase Russell’s, a clothing and sporting goods store located in downtown Sitka, from family members. Ashley and Steven are the third generation to take over the business which has been in existence for 57 years.
Ashley had been working at Russell’s for three years as the bookkeeper and manager and had learned a lot about the retail industry but was looking for assistance in creating a business plan and financial projections.
Ian Grant worked with Ashley to complete the financial projections using historical information from past financial statements. After a few months, the final product was used to approach Alaska Pacific Bank for a line of credit.
“Our biggest wish for purchasing and continuing my family’s business, was a smooth transition. It wouldn’t have been possible without Ian Grant at the Alaska Small Business Development Center” said Ashley,
“Ian took on a great deal of work for us, helping us with our business plan, budget and projections; which ultimately led to us securing a line of credit through our bank”.
Ashley and Ian plan to meet quarterly to discuss the financial statements and ways to improve the operations based on the numbers.
If you are ever in Sitka, make sure to visit this staple of the downtown community. Russell’s is located at 208 Lincoln Street. Not in the area? You can also visit them online at their Facebook Page.