Sole Envy

Sole Envy
Laura Felt
1200 Town Centre Blvd #1142
Provo, UT 84601

Laura started out working in Claire’s Boutique as a retail manager. She enjoyed her position, but wanted to go to law school. Once she stopped working retail she realized how much she missed it. She knew what she really wanted was her own retail store. Laura had married into an entrepreneurial family and she and her husband dreamed about opening their own retail place. One day, while driving around, they decided that it was time to stop talking about their dream and start living it. They started researching the Provo Towne Centre to see what was missing from the mall. They decided that there really was not enough reasonably priced shoe stores. The only competition around was Famous Footwear.
Laura dove into research and decided she wanted to stay within a moderate price of $17-$24 per shoe pair. She looked into chic companies such as SODA, Cupid and Wild Diva. Laura scoped out the competition, camping out in front of other small retailers, finding out just what were the desirable and less desirable traits of each place. She decided she wanted to own a place that was shopper friendly with great customer service. She wanted to have well trained and helpful employees but also make it easy for customers to help themselves.
It wasn’t always easy for Laura to be successful. She came to Ken Fakler needing help to get a business loan. With the way the economy was heading, no bank was willing to finance a 22-year-old wanting to open a shoe store. Ken pointed Laura in the direction of Zion’s Bank as well as private investors and he helped her get a business plan together that won over both bank and investors.
Laura’s next hurdle was the Mall lease. The bank and mall could not come to an agreement about a lease plan. The Mall’s rules were that they can kick out anyone the first 90 days if you do not meet your goals. Once an agreement was finally reached and the Mall saw what a success Laura’s store was, she received invitations to franchise and spread throughout the Ggp (a mall organization that is in charge of 669 malls nationwide).
Before Laura opened her store she hired a designer to help with the store layout. She decided to keep everything at eye level, with deep enough shelves that all the sizes were available on the floor. She went with long mirrors on the walls that made the space look bigger. Laura chose furniture from IKEA, so that it looked modern and yet very inviting. She also spent hours making her window displays unique and eye catching. The result was the Sole Envy of the mall.
Even with the current economic downturn, Laura’s store has been recession proof. Within her first four months of business she was able to reach 62% above her projected sales. The sales were thousands of dollars above her projected monthly goals. Part of what makes Sole Envy such a success is that people always need shoes, and this is a lower priced, yet chic option. Another success maker for Laura is that she puts her employees first. She makes sure that her employees are very well trained and customer oriented. In return for their excellent service she is willing to help them out with their college education. Laura has been able to accomplish all of this at the young age of 22 and as a new mom, thanks to her dedication, the strong support of her family and the SBDC.

Downtown Philly Cheese Steak

The Downtown Philly Cheese Steak
Matt Hassler and Nick Rhodes
1665 West Towne Center Drive
South Jordan, Utah 84095
801.878.8450

The “right” cheese is the Cheez Whiz. The City of Philadelphia is known for their delicious Philly Cheese Steaks, Tasty Cakes, and Birch Beer. If you are a Philly native, or happened to live in the surrounding area, giving up these delicatessens is just too hard. This is what Matt Hassler experienced. Matt spent two and a half years in a sales job in Philly and got addicted to these wonderful foods.
When Matt moved to Utah he met Nick Rhodes. They were both salesmen for a company, and both of them knew that their true calling was in the food industry- both of them realized that they would like to attend Culinary School. They decided to start their own Philly Cheese Steak House- and that is how the ‘The Downtown Philly Cheesesteaks’ idea came into existence.
Matt found the Small Business Development Center four years ago, but shelved his business ideas due to lack of funding. They decided to give the SBDC another try, and this time found Ken Fakler. They bounced idea after idea off from Fakler, and received many helpful answers. They found out what to expect in a lease, how to set up a business, and they received valuable information fast. They were able to find a good location with heavy foot traffic and tender an offer on needed equipment. The building was ready to open, without needing a build out. Ken sat down with Matt and Nick and checked over their lease before they signed.
A big challenge they faced was financing. Most SBA Loans were not structured for new business startups. They would need access to a quarter million dollars in assets to apply for the loan as a new business, and they just didn’t have that kind of money. They ended up fronting their own money by borrowing on their own houses and credit cards. Their goals was to make a substantial profit in the first year, and they are well on their way to reaching that goal. Also, they are planning to open a second store in the Salt Lake area this year; and eventually have 5 stores in the greater Salt Lake area.
Matt and Nick make the ‘Best Philly Cheese Steaks in Utah’ and couldn’t have done it without their very supportive wives – their wives quit their jobs and are working in the business. Matt believes that “People should open their own business” because “it is so rewarding to work for yourself”. He has “learned more in the last 3 months about business than in taking business classes for many years and reading business books.”
The Downtown Philly Cheese Steak provides a true Philadelphia atmosphere when you walk through the door and authentic Philadelphia food. Their most popular subs are the traditional steak which is filled with steak, fried onions, and cheez whiz or American cheese; and the Garlic Steak which is filled with steaming steak, mushrooms, tomatoes, onions, garlic butter, provolone and cream cheese. It makes your mouth water just reading about them! Matt, Nick, and their wives are making their dreams come true with the help of the Orem SBDC. See the SBDC to help you make your dreams come true, too.