Foggy Mountain Shop opened it’s doors in 1974 in Juneau as the first full-service backpacking, mountaineering and nordic ski shop in Southeast Alaska. Locals and tourists alike have benefited from their quality gear for over 40 years and the owners are now ready pass along the shop to two of it’s best employees, Courtney Nicholl and Sean Rielly.
Nicholl and Rielly approached the Alaska Small Business Development Center in Juneau in January of 2013 for assistance with the buy out. Both had ample experience working in the store but were looking for some guidance on valuating the business and approaching a bank for a loan. Ian Grant worked with Nicholl and Rielly on the business plan and financial projections in order to approach a bank. He then worked with them in conjunction with the lender in order to make sure the loan proposal went smoothly and they were able to qualify for an SBA backed loan.
“Transitioning from a shop employee to buying the business feels a little like walking through a minefield. Ian has been our map; letting us know what is coming at us and how to handle it” said Nicholl.
Grant worked with the pair for about a year until the loan was officially approved and Foggy Mountain Shop’s ownership was transferred to Nicholl and Rielly.
“Buying the business is really just the first step, we will continue to seek his guidance as we grow into our business and start to plan for what’s next” said Nicholl, “the educational programs offered give owners like us the ability to better understand our business and to operate it more efficiently. We plan to take advantage of these offerings and invest in our continued education”.
Foggy Mountain Shop is located at 134 N. Franklin Street, Juneau. Alaska 99801. You can also follow them on Facebook or visit their website for more information on the business, local trail conditions and what products they carry.
