Inventor Increases Profits and Product Popularity

UntitledAdvice from the SBDC helped this entrepreneur grow by reducing costs and obtaining capital.

 

Click & Carry is a simple device that allows shoppers to conveniently carry multiple bags comfortably developed by Kimberly Meckwood, an entrepreneur with an idea and a background in medical devices.

Challenges

Meckwood began to dedicate her time to Click & Carry full-time in March 2013 and officially launched the product at a Home and Housewares show. The launch was successful, however Meckwood required additional working capital before she could further expand her business to new prospects. Just at the right time, a friend recommended the Small Business Development Center hosted by Pasadena City College.

Best Advice

SBDC Business Advisors Don Loewel and Albert Napoli helped Meckwood: price her product competitively, develop a business plan, identify and pitch to investors. Ultimately, the SBDC helped Meckwood both obtain an SBA loan and secure equity financing.

Client Impact

Since Meckwood began working with the SBDC, her accounts have increased by 30 percent, some of her accounts include Ralphs, The Container Store, Corningware stores, and the QVC network. After obtaining a $25,000 SBA loan needed to grow, Meckwood is now planning to buy more inventory and expand her vision to include a second product she plans to pitch to other large retailers including Walmart. Meckwood also has plans to expand her team to include an operations manager and a social media manager to service retail accounts. “I hope to build it to a place where the product is in significant national retailers,” she says, “and to be bought in 24 to 36 months by a multinational corporation.”

Untitled“The SBDC give me expert advice and they are honest with me. I would have made many mistakes without their council. I honestly can’t make a big decision without running it by my “dream team” first. They are knowledgeable, insightful, rational and strategic. It’s an honor to work with my two brilliant advisors! I can’t tell you how thankful I am for the SBDC. They changed my life!” – Kimberly Meckwood, Founder, Click & Carry, Inc.