Francois J. Danielo, an immigrant from France, has shown that you can change your life if you are willing to work hard, plan meticulously, seek expert advice, and never give up. At 42, he courageously left a marketing job to open a French bakery, a long-held dream. At the Baruch College SBDC he met the team that would work with him for more than 15 months to develop a business plan and financial projections. Business Advisor Darshan Dedhia, his primary counselor, worked with Francois and the Queens Economic Development Corp’s Franklin Mora to help the client form an S Corp, deal with NYC agencies, and obtain permits and licenses. The client and advisor even visited possible sites for the bakery together.
Although dealing with financial issues in a challenging economic climate took months and consultations with several lenders, the results were worth it. Bethex Federal Credit Union provided a substantial loan which, with the client’s equity, enabled him to open his business in July and create nine jobs. The business has been successful since its inception - one of the biggest initial problems was running out of baked goods too early in the day. La Boulangerie is now thriving and a real asset to the Forest Hills neighborhood. “A big thanks to Baruch College’s SBDC, and particularly Darshan Dedhia, who helped me locate additional resources,” said Francois. “The SBDC helped me formalize my business plan and they found a solid financing solution for my business.” The American immigrant dream is alive and well.