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Mohawk Valley, North Country among areas receiving state brownfield grant funds
Gov. Andrew Cuomo recently announced the state has provided $2 million in Brownfield Opportunity Areas Program grants and the Mohawk Valley and the North Country are among 13 communities across the state to benefit from the funding. The program provides resources to develop data-driven revitalization strategies for economically distressed areas. These plans “forge a path to […]
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Gov. Andrew Cuomo recently announced the state has provided $2 million in Brownfield Opportunity
Areas Program grants and the Mohawk Valley and the North Country are among 13 communities across the state to benefit from the funding.
The program provides resources to develop data-driven revitalization strategies for economically distressed areas. These plans “forge a path to transform blighted properties in urban areas into community assets and catalysts for neighborhood-wide revitalization,” the state says.
Brownfields are abandoned or underutilized properties where known or perceived contamination has inhibited redevelopment, turning the properties into economic and environmental drains on localities. The Brownfield Opportunity Areas Program grants have driven revitalization throughout the state, turning dormant sites into “vibrant and productive properties that attract jobs and private investment, ultimately expanding the local tax base,” the state contends.
“This funding will help transform blighted and polluted properties into economic engines in communities across New York,” Cuomo said in a news release.
Brownfield Opportunity Areas Program grants support:
• Site-contamination condition investigations;
• Environmental-impact assessments;
• Studies to determine the best use of brownfields and vacant sites;
• Redevelopment plans for impacted sites;
• Marketing to attract developer and investor interest;
• Forums and opportunities for public participation; and
• Additional actions to spur investment, cleanup, and redevelopment related to brownfield sites.
The Department of State administers the Brownfield Opportunity Areas Program. The recipients in the Mohawk Valley and the North Country are:
Mohawk Valley
• City of Amsterdam, East End Brownfield Opportunity Area ($97,200) & Northern Brownfield Opportunity Area ($97,200)
The City of Amsterdam will complete a Brownfield Opportunity area nomination for an approximate 129-acre area with at least nine potential sites in the East End neighborhood and about a 309-acre area with at least 35 potential sites in the Northern neighborhood. The primary objectives include development of a plan to address the environmental, physical, social, and economic problems facing both neighborhoods; environmental cleanup and productive reuse of old industrial sites; demolition of unsafe structures and reuse of those sites; implementation of programs to revitalize residential and commercial areas; and identification additional redevelopment strategies, according to the state.
• City of Utica, Central Industrial Corridor Brownfield Opportunity Area ($199,610)
The City of Utica will complete a Brownfield Opportunity Area nomination study for an approximately 1,705-acre area along the old Erie Canal and main railroad corridor in Utica. The objectives to be achieved by this project include facilitation of future investment and growth through focused community-based planning, strategic investment and marketing; conversion of properties from dormant brownfields to active buildings; and the revitalization of city areas that have high historic interest, underutilized natural resources, or architectural potential.
North Country
• Town of Canton, Canton Village Brownfield Opportunity Area ($176,000)
The Town of Canton will complete a Brownfield Opportunity area nomination for a 73-acre area with 27 potential sites and nine vacant or underutilized sites along the Grasse River and in the historic downtown. Objectives include an analysis of existing market and housing conditions, an assessment of environmental contamination on key sites and promotion of essential environmental cleanup, improved gateways into the historic downtown, increased public access to the Grasse River, protection of waterfront and open space resources, and an improved local economy. Specific projects will include studying the feasibility of relocating the County Highway Department, streetscape enhancement, and reviewing zoning and land-use regulations.
Contact the Business Journal News Network at news@cnybj.com

Dannible & McKee starts 2018 with Southern Tier acquisition
SYRACUSE — Dannible & McKee, LLP, a Syracuse–based accounting firm, began 2018 with a completed acquisition that it says was part of its “strategic plan to strengthen its position throughout the Southern Tier.” Dannible & McKee on Feb. 13 announced it had acquired Sbarra & Company CPAs, P.C., an Endicott accounting firm in a deal
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SYRACUSE — Dannible & McKee, LLP, a Syracuse–based accounting firm, began 2018 with a completed acquisition that it says was part of its “strategic plan to strengthen its position throughout the Southern Tier.”
Dannible & McKee on Feb. 13 announced it had acquired Sbarra & Company CPAs, P.C., an Endicott accounting firm in a deal that took effect Jan. 1. It didn’t disclose the transaction’s financial terms.
Sbarra & Company CPAs is now operating under the name Dannible & McKee.
The Syracuse accounting firm is headquartered at 221 S. Warren St. in Syracuse and has 90 employees. Sbarra & Company CPAs operates at 1701 North St. in Endicott, according to its website.
In the deal, Dannible & McKee adds five employees, including one partner, Thomas Sbarra, the Endicott firm’s president. Of the five new employees, two, including Sbarra, are certified public accountants, according to Jennifer Whalen, marketing director at Dannible & McKee.
Sbarra & Company has been providing accounting, tax, and consulting services to individuals, businesses, and nonprofits since 1993. Its expertise ranges from basic tax and accounting services to more in-depth services such as audits, reviews, compilations, financial and tax planning.
“We are very proud of the nearly 25-year history of our firm and recognized that the next step for our team and clients was to merge with a firm as highly respected and renowned as Dannible & McKee,” Sbarra said in the release. “We look forward to offering many new services for our clients and advancement opportunities for our employees.”

DeWitt business benefits from Emerging Leaders program
Best in Bloom, Inc. of DeWitt, a locally owned wholesaler of flowers, serves 100 florist clients in locations that include Massena and Auburn. Owner Steve Jocz has seven employees that make the deliveries, but Jocz will “often” drive one of his six delivery trucks to “stay connected to his loyal customers.” “I always look for
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Best in Bloom, Inc. of DeWitt, a locally owned wholesaler of flowers, serves 100 florist clients in locations that include Massena and Auburn.
Owner Steve Jocz has seven employees that make the deliveries, but Jocz will “often” drive one of his six delivery trucks to “stay connected to his loyal customers.”
“I always look for a way to find what my customers need, and the highest quality flowers are what they have grown to rely on from Best in Bloom. To this day, I still check every incoming shipment to make sure the quality is what I expect,” Jocz said in a U.S. Small Business Administration (SBA) Syracuse District news release that tells his story and how his business benefitted from the SBA’s Emerging Leaders program.
Jocz began selling flowers from a delivery truck in 1993 for a wholesaler, the SBA said. He was promoted to sales manager and later to store manager when his sales numbers kept outperforming other branches.
Jocz found that he had a knack for selling flowers, and interacting with customers was part of the job that made his work “not a job at all,” the SBA said.
After nearly 20 years in the industry, Jocz decided to strike out on his own as a wholesaler. In 2012, he attended a small-business workshop series that the Onondaga Small Business Development Center (SBDC) offered. The SBDC is a program that the SBA and Onondaga Community College support.
The course helped Jocz develop a startup plan and his networking efforts with bankers, lawyers, and insurance agents familiar with the challenges facing many startup companies. Joan Powers, regional director of the Onondaga SBDC, encouraged Jocz and gave him “confidence to pursue his dream.”
When Powers recommended Jocz get involved with the SBA Emerging Leaders program in the spring of 2017, he figured it was “the right time for his growing company to add strategic planning,” according to the SBA.
Jocz believes he benefitted from working with Emerging Leaders instructor John Liddy and learning from other business owners. As a result of the “intensive” training program, Jocz put new business processes into place, including 24-hour customer service and a new company website. The changes helped produce a 25 percent increase in the company’s revenue, the SBA said.
“Without the SBDC, I wouldn’t have started my business, and without the SBA Emerging Leaders program, I wouldn’t be where I am today,” Jocz said in the release. “My goal for the future is to continue to develop sustained growth and keep my customers happy.”
SBA’s recruitment event for next Emerging Leaders program set for March 2
Area small-business owners can participate in an upcoming free recruitment event to learn more about the SBA Emerging Leaders program. It’s set for March 2 from 10 to 11 a.m. at Recess Coffee headquarters at 114 Boss Road in DeWitt. Central New York executives of small, “poised-for-growth companies are ideal candidates for this intensive,” executive-entrepreneurship
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Area small-business owners can participate in an upcoming free recruitment event to learn more about the SBA Emerging Leaders program.
It’s set for March 2 from 10 to 11 a.m. at Recess Coffee headquarters at 114 Boss Road in DeWitt.
Central New York executives of small, “poised-for-growth companies are ideal candidates for this intensive,” executive-entrepreneurship series, according to the SBA.
The program includes nearly 100 hours of classroom time with other CEOs. Companies across the region have participated in the Emerging Leaders program, and the SBA is now accepting applications for the class of 2018.
Held in Syracuse, the Emerging Leaders program provides opportunities for small-business owners to work with experienced coaches and mentors, attend workshops, and develop connections with their peers, local leaders, and the financial community.
The program is available at no cost to participants, the SBA said.
Since its inception in 2008, the SBA’s Emerging Leaders program has trained more than 5,000 small-business owners nationwide, creating over 6,500 jobs, generating more than $300 million in new financing, and securing over $3.16 billion in government contracts, according to an SBA news release.
“Our program helps small-business owners analyze their business financials, identify sales trends, leverage resources, learn new management skills, and plan how to sustainably expand their business. Any entrepreneur ready to strategically grow their company is invited to learn more about the program at the recruitment kickoff hosted by Recess Coffee owners Jesse Daino and Adam Williams,” Bernard J. Paprocki, director of the SBA Syracuse district office, said.
Daino was part of the Emerging Leaders program in 2016.
“As business owners, we knew what was and was not working; but Emerging Leaders provided the necessary insight to take our business to the next level. This class shed new light on issues we had struggled with in the past, with the added benefit of participating with other business owners in the area. The networking was a huge plus,” Daino said in the release.
Small-business owners can register for the free recruitment kickoff with Grace Conners by emailing: grace.conners@sba.gov or Steve Barr at stephen.barr@sba.gov

Realtor wins award, then helps launch new firm, MyTown Realty
SYRACUSE — January was a memorable month for local realtor David Manzano, Jr. The Greater Syracuse Association of Realtors honored him as the group’s Realtor of the Year during its annual meeting held Jan. 19. He then helped launch MyTown Realty, LLC, a firm that focuses on residential real estate. It operates in a 10,000-square-foot
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SYRACUSE — January was a memorable month for local realtor David Manzano, Jr.
The Greater Syracuse Association of Realtors honored him as the group’s Realtor of the Year during its annual meeting held Jan. 19.
He then helped launch MyTown Realty, LLC, a firm that focuses on residential real estate. It operates in a 10,000-square-foot space inside the Icon Tower at 344 S. Warren St. in downtown Syracuse.
Manzano helped start the business after spending nearly seven years working for his father, David Manzano, Sr., at Hunt Real Estate ERA in Camillus.
Manzano, Jr. has equal ownership in MyTown Realty along with Grazi Zazzara, Jr., who also serves as president of the Icon Companies, a commercial real-estate firm also located in the Icon Tower at
344 S. Warren St.
“It’s just something I’ve always known I wanted to do, and with Grazi and myself, with the relationship we’ve nurtured over 10 years, it was the perfect fit to make that happen,” says Manzano. He spoke with CNYBJ on Feb. 9.
Both men equally contributed funding to launch the firm, but Manzano declined to disclose the amount of money invested. Besides the owners, the firm doesn’t currently have any employees but is looking to hire an administrator and manager. MyTown Realty also currently has three agents who are classified as independent contractors.
Becoming business partners
Manzano and Zazzara have known each other since their days working together at Pyramid Brokerage Company in Syracuse.
“We started the same day in 2007. We hit it off,” says Manzano.
Zazzara’s current firm, Icon Companies, focuses solely on commercial real estate, but he’s had clients ask about help with residential real estate. He’d tell them he wouldn’t be much help because commercial and residential real estate “are so different.”
“I couldn’t properly advise you. I wouldn’t be able to guide you in the right direction,” Zazzara says, paraphrasing how he would answer inquiring clients.
He’s also had to turn away agents seeking work in the residential sector. In 2017, Zazzara decided to pursue a separate firm focused on residential real estate. He sought advice from Manzano on the licensing process, and as the conversation continued, the friendship would evolve into a business partnership.
“I said Dave … I know it’s your dream to start your own company. Why don’t we just join forces and do it now,” says Zazzara, recalling his conversations with Manzano.
Manzano gave it some thought and figured it might be the right opportunity to co-own his own business.
“I made the decision the day after Christmas,” he adds.
MyTown Realty has a three-tiered plan for growth, says Manzano. First, he wants to grow the Syracuse office to have 30 agents. Second, he would like to open two additional locations in Camillus and Manlius.
“At some point in time, I’m going to have to become more of a regional manager and put a manager in place for this branch so that I can be free for more expansion and more training,” says Manzano.
The plan also has a third phase, but Manzano didn’t want to disclose details on that yet.
When asked if MyTown will be focused solely on Central New York, Manzano says, “We can go anywhere in New York [state] being licensed for New York.”

StartFast closed three follow-on investments in 2017
SYRACUSE — StartFast Venture Accelerator recently announced that it closed three follow-on investments in 2017, a “record number” for the firm. The companies financed include New York City–based Electronic Gaming Federation (EGF), Canadian company Tunedly, and Buffalo–based RepHike, according to a web posting by James Shomar, program director at StartFast Venture Accelerator on the website
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SYRACUSE — StartFast Venture Accelerator recently announced that it closed three follow-on investments in 2017, a “record number” for the firm.
The companies financed include New York City–based Electronic Gaming Federation (EGF), Canadian company Tunedly, and Buffalo–based RepHike, according to a web posting by James Shomar, program director at StartFast Venture Accelerator on the website of Upstate Venture Connect (UVC).
“Our efforts to find and mentor the best startups in the world are now paying off,” StartFast Managing Director Nasir Ali said in the posting. “We are looking forward to more follow-on financings and exits as our companies mature and grow.”
Applications are open for the 2018 StartFast Cohort. Those interested can apply now at StartFast.net.
StartFast is a six-year-old venture capital fund and membership-driven program. Each year StartFast invests in a select handful of software, mobile, or IoT (Internet of Things) companies, and hosts a three-month acceleration program at the Madden School of Business at Le Moyne College in Syracuse. Initial investment includes $25,000, with up to $100,000 in potential follow-on funding. During the accelerator, teams are “connected with world-class entrepreneurs, investors, corporate executives and subject matter experts to help their companies advance to the next level,” StartFast says. “Graduates maintain access to the StartFast network for life.”
About the companies receiving follow-on investments
EGF’s mission is to build the next generation of the NCAA for e-sports in college and high school, according to StartFast. EGF oversees a collegiate e-sports league and is the only state-endorsed high school e-sports league in the country.
Tunedly is a marketplace that connects songwriters with session musicians to record and produce professional quality music. Using the company’s platform, artists from across the globe can collaborate in a virtual studio, per StartFast.
RepHike is an end-to-end software suite to help consumer brands launch, manage, and track college brand-ambassador programs. The programs have proven to be an “innovative” method for consumer brands to tap into the highly sought after college student market, according to the company.
“We’re incredibly excited about the progress these teams are making. It just goes to show how the right blend of investment and mentorship can be extremely valuable for startups,” Shomar wrote.

Growing Oneida business to add 11 employees in next two years
ONEIDA, N.Y. — All-Seasonings Ingredients expects to add 11 workers in the next two years, helped in part by a state grant. All-Seasonings — which supplies spices, nuts, herbs, seeds, and baking supplies to distributors — has already grown from 12 to 60 employees in the past decade, according to a news release from New
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ONEIDA, N.Y. — All-Seasonings Ingredients expects to add 11 workers in the next two years, helped in part by a state grant.
All-Seasonings — which supplies spices, nuts, herbs, seeds, and baking supplies to distributors — has already grown from 12 to 60 employees in the past decade, according to a news release from New York State Homes and Community Renewal.
“What started as an idea to supply small and mid-sized food service distributors with private label spices and ingredients has become a classic business success story,” said Homes and Community Renewal Commissioner RuthAnne Visnauskas. “This grant is an investment in All-Seasonings Ingredients and the future of the City of Oneida — signs that Central New York is rising.”
The $162,000 Community Development Block Grant Economic Development Program award was applied for by the City of Oneida.
“We applied for this grant to enable an excellent corporate citizen to once again expand its operations. This award will allow All-Seasonings Ingredients to meet its increasing product demand, create additional job opportunities and improve our local economy,” Oneida Mayor Leo Matzke said in the release.
This is not the first time All-Seasonings has benefitted from a state grant. In 2013, the growing firm was awarded $436,000 to expand operations, adding 15 full-time jobs, according to NYS Homes and Community Renewal records.
Contact the Business Journal News Network at news@cnybj.com
Resources for Startups or Growing Businesses
The first quarter of the year is a great time to think about starting a business or growing your business. As entrepreneurs think about their businesses, often the first task that needs to be addressed is funding — whether it’s for new office space, investment in equipment, operating cash, payroll, marketing, or any other aspect of
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The first quarter of the year is a great time to think about starting a business or growing your business. As entrepreneurs think about their businesses, often the first task that needs to be addressed is funding — whether it’s for new office space, investment in equipment, operating cash, payroll, marketing, or any other aspect of running a business.
Here is some guidance on that topic.
1. Use Central New York’s great resources for entrepreneurs. We work closely with and refer many small-business customers to work with the Onondaga Small Business Development Center at Onondaga Community College, as well as SCORE. Even before an individual goes to a bank to discuss a request for startup financing, these offices can help entrepreneurs and current business owners to understand requirements, compile information and develop necessary documents, identify available resources, and even offer some of their own financing programs.
2. Develop a thorough business plan. Because new businesses don’t have the benefit of actual financial performance to demonstrate the potential for future success, it is important to have a business plan to guide conversations with bankers. A three to five-year plan with information on the business owner’s experience, personal financial information, anticipated business expenses, and rationale to explain expectations for earning revenue is recommended. This plan should also demonstrate the business owner’s understanding of both the proposed product and the market, as well as how he or she plans to take advantage of any trends or untapped opportunities.
3. Be prepared to spend time with the bank’s people, so that they can really understand your business. This allows them to provide the best recommendations and products to help the business be successful in the long-term.
4. Ask about Small Business Administration (SBA) resources, and even USDA (U.S. Department of Agriculture) resources.
5. You typically need to contribute some of your own money (project equity) in order to secure bank financing. Banks generally do not finance the entire operations of a business, so startup companies should plan to raise capital or invest their own money for at least 20 percent of startup costs such as equipment purchases, fit up of the facility, and the projected cash flow needed to cover operations until the business becomes cash-flow positive. This capital infusion may be used to cover operating expenses, but is often used as the down payment on physical asset purchases. The trick is to find the right balance between debt (the bank loan) and equity (the owner’s capital). The more capital that an entrepreneur can raise or contribute, the better it will look to the bank that is reviewing the application for financing.
6. One of the most important things that an individual can do when preparing to ask for financing is take time to build his or her credit profile by staying on top of any existing loan payments, while saving as much money as possible for the personal investment in the business.
These tips should help entrepreneurs get the most out of their discussions with their banker, but this is certainly not intended to replace that discussion. It is important that the entire banking team, from loan officers to financial planners, get to know the individual and their organization, including where the company is in the business life cycle and what its overall industry looks like now, as well as trends for the future. This allows the bank to not only support a company’s operations, but also the business leader’s aspirations.
This is similar to how a professional mentor might be identified for you and your business, and how that relationship forms. It’s not overnight, but rather it takes time to get to know each other. And you recognize that someone has your best interests in mind, as well as knowledgeable and relevant advice to offer you.
This relationship is equally important after a business has been operating for several years, especially when the business owner starts thinking about growth. The smoothest transactions occur when the customer and the bank have an existing relationship, because the bank is already aware of how the business has been performing and its cash-flow cycle. Financing requests for growth initiatives often have the benefit of citing the proven financial performance of the business, and sometimes have assets to leverage for the requested funding. If a longer-term relationship has not yet been established between the business owner and the bank, then the business owner should be prepared to proactively explain why a past year may have been unusually successful or unsuccessful.
One of the most noticeable ways that a bank is able to create this type of personal relationship is by employing experienced bankers who have years of living and working in the area of their customers.
Proper planning now for a minimum of the first two years of operation of a new business is critical to best manage the financial success of a startup, from the loan-payment structure to being able to invest in growth. The same approach to long-term planning is important for existing businesses that are looking to invest in growth efforts. And whether you have been in business for several years or just completed your first quarter, it’s always important take some time to review your business’s financial needs and options.
Every organization’s situation is different. That’s why it is critical to work with a banking team that understands your business. By connecting with these types of commercial-banking specialists, business owners will benefit from an experienced and dedicated team that can help to identify the most useful bank products and services.
Jonathan Spilka is VP and commercial relationship manager at NBT Bank, based at its Syracuse Financial Center at 120 Madison St., He has spent nearly two decades in the Central New York banking industry.
Author’s note: The opinions expressed in the article belong to the contributing author, and anyone considering any investments or financing should seek advice from an independent third party such as their financial planner or tax advisor.

Sauce and Salt companies open kiosk at Destiny USA
SYRACUSE — Two local food specialty companies have jointly opened a food kiosk at Destiny USA. Syracha’Cuse Gourmet Sauces and the Syracuse Salt Company are sharing space near the elevators on the mall’s first floor. Mike Sharlow, founder of Syracha’Cuse Gourmet Sauces, says the space is like having a company store where area residents can
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SYRACUSE — Two local food specialty companies have jointly opened a food kiosk at Destiny USA.
Syracha’Cuse Gourmet Sauces and the Syracuse Salt Company are sharing space near the elevators on the mall’s first floor.
Mike Sharlow, founder of Syracha’Cuse Gourmet Sauces, says the space is like having a company store where area residents can buy its line of gourmet hot sauces and mustards. The kiosk sells the full line for both businesses, more than 50 products in all. Before the kiosk, the companies’ products were available at specialty shops and online.
Started by Sharlow and his daughter, Marissa Sharlow, in 2016, Syracha’Cuse makes sauces and mustards with local and regional ingredients that are organic, non-GMO, gluten-free and vegan friendly. Collaborations include a craft beer hot sauce infused with Empire Brewing Company’s Skinny Atlas Light beer; a coffee hot sauce made with coffee from Recess Coffee and Roastery; and a maple garlic hot sauce infused with maple syrup from Dutch Hill Maple, Tully. Mustards include a craft beer mustard made with Empire beer, a Chardonnay mustard made with wine from Owera Vineyards in Cazenovia; and a honey mustard made with honey from Hiwire Honeybees, of LaFayette.
Syracuse Salt Company was started by David Iannicello and his daughter, Libby Croom, in 2015. They import salts from around the world, some of which they flavor with lemon, garlic, or other tastes. They also work with other businesses to create salt-related products such as candles, soap and coffee.
Iannicello says Croom returned from a trip to Maine with some Himalayan sea salt and, combined with his interest in food and Syracuse’s longtime reputation as the Salt City, the business was born.
He says Himalayan sea salt is largely unprocessed and contains some 84 minerals along with sodium chloride. In contrast, regular table salt is processed to be 99.7 percent sodium chloride with a bit of iodine and an anticaking agent to keep the salt from getting lumpy.
The minerals in Himalayan sea salt affect the tastes of foods, according to Iannicello. “It adds a different dimension,” he says, “the flavor is more intensified.”
For Iannicello, the outlet at the mall is a step toward a bigger project. While his company is currently bringing salt from around the world to Syracuse, “our ultimate goal is to get some salt from Syracuse again. We want to get salt back on the market from Syracuse.”
Iannicello and Sharlow say their collaboration on the kiosk came about because they saw each other at food festivals and craft fairs. They got together for coffee. “Now, we’re friends,” says Sharlow.
For both businesses, the spot in the mall is a chance to reach out to new customers. That’s why the kiosk offers tastings. Sharlow says he offers hot sauce tastings on chips from Ithaca and mustard tastings on pretzels from Theresa.
The kiosk at Destiny USA opened Feb. 8 and, for now, operates from 3 p.m. to 8 p.m. Tuesday through Thursday; 3 p.m. to 9 p.m. Friday and Saturday; and noon to 5 p.m. Sunday. The store is closed on Mondays.
Is Your Business Idea Part of a Fad or A Trend?
When we start to think about starting a business, there are so many things to consider. What are the steps to become legal? What are the proper filings I have to complete when established? How will I ever leave my job to go off on my own? Do I have what it takes? There is
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When we start to think about starting a business, there are so many things to consider. What are the steps to become legal? What are the proper filings I have to complete when established? How will I ever leave my job to go off on my own? Do I have what it takes?
There is so much to think about in order to be fully prepared to begin your venture. One thing you must evaluate is whether or not your business is part of a fad or a trend in the industry. This can be a difficult decision to make. That is why doing your research is so important to becoming a successful business operation.
In order to really know if your business is going to be able to support you and your family for the long haul is to understand the definition of a fad and the definition of a trend. According to www.yourdictionary.com, a fad is “something that people are interested in for a short period of time.” At the time, it is desirable to have this product or service, and just as quickly as it comes in, it goes right out. Some examples of fads are drive-in movie theaters, telephone booths, video-game arcades, video stores, roller-skating rinks, and of course products like Cabbage Patch Kids, virtual pets, and the fanny pack. You have to take into consideration the industry that you want to break into. Technology changed the way we communicate, hence the telephone booth not being used anymore. The way in which we watch movies has changed also, rendering video stores out of date. And, virtual gaming is a huge deal so arcades are not as popular to hang out in anymore.
You have to be willing to see the industry trends and growth to fully understand if you can maintain a sustainable business for the future. A trend is ongoing. Industry trends help to merge and develop new business concepts. Key questions include: How is the consumer looking to spend their money? What is important to the buyer?
Chris Malta, CEO of WorldwideBrands.com says, “Based on buyer lifestyles, trends move with rhyme and reason, and tend to progress and morph over time, rather than abruptly disappear.” Trends set the tone for what is to come. In our society, much more has been focused on healthy living, eco-friendly products, and e-commerce. Businesses with a brick-and-mortar presence have to have a bigger draw for the customer to come in more than ever before. Online shopping has been a fast-growing trend that makes products and services a click of a button away. Convenience is the way of the future. Food delivery is not just about getting take-out any longer. The new trend is healthy, good-for-you meals. Hence the growth of Blue Apron, Plated, and other meal-preparation businesses that deliver to your doorstep.
Now for the big question, how do you know if your business is a fad or a trend? Know your industry. Start reading about the predictions for your industry from the experts. Evaluate and keep evaluating every year. Know the track in which your business could be heading. You have to have a clear definition of what you will offer to your customer and how you will continue to meet the demands of that customer. Understanding your market is a huge factor for any small business. Who are your customers, where and how will they get your product and service? Having a good, solid business plan that is well developed will help to reduce your risks when starting a new business venture. A business plan will tell you if your business is sustainable for years to come. When you are developing a business plan, the market research will forecast your longevity for the business. A business plan is ever-changing and you have to be willing to think outside the box, evolve, come up with new solutions to new problems that arise throughout the path your business takes, and be ready for unpredictable things that might occur. That sounds daunting, but it is so important to your success to stay aware of the current trends in your industry, in society, and in the future marketplace. After all your research and development, you will be able to distinguish between a fad and a trend and if your business will take you through the long haul.
Melissa Zomro Davis, a former small-business owner in the equine industry, is a New York State-certified business advisor at the Small Business Development Center at Onondaga Community College. Contact her at m.l.zomro@sunyocc.edu or call (315) 498-6066.
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