A Decade in Business: Sound Reinforcement Specialists
Jessica and Josh Bennett founded Sound Reinforcement Specialists (SRS) in 2006 with the goal of bringing technical knowledge, high-end equipment and excellent service together to serve the Fairbanks community. While they stayed up to date with the latest trends in sound quality and tech, the competitive landscape changed slowly around them. After a decade in business, the Bennetts realized that their local competition had increased and they needed to update their strategic plan so they could continue to capture their share of the market and maintain the financial success they had experienced early on.
The Bennetts met with SBDC Advisors Russ Talvi and Alexis Amstutz to update their pricing model and discuss the impact that the local industry has had on their business. With an increase in competitors and several enticing offers on the table, the Bennetts weighed the opportunity cost of continuing operations versus selling the business. After looking at their numbers and evaluating their performance in key areas, they had a good picture of the overall health of the business and decided to continue on.
“SBDC gave us a third party view on where we are as a business. They helped us see how far we’ve come, what we’ve done well and what changes we can make to improve. With their advice this year we have had noticeable improvements,” said Jessica.
SRS provides an extensive list of services including event production, sound system design, tour consulting, music instrument rental, repair, tuning and more. You can see their full line of services by visiting their website or checking them out on Facebook.