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Scott's
BBQ is smokin'
The 45-year-old owner of Scott's BBQ used savings and investments from friends and family to raise $20,000 to open along Northland Boulevard in 2006. Last year, he expanded the menu to offer items such as beef brisket and turkey for those who prefer beef or fowl over pork, something that he says boosted his customer base by 10-15 percent. Scott's BBQ, with annual sales of about $300,000, has come a long way from previous years when the owner sold items at local events from a mobile trailer. He says the business has been successful offering its homemade barbecue chicken, ribs, metts and more in an atmosphere that appeals to people from all walks of life. Dinner entrees run from $9 to $11. But now Scott says he needs more capital to grow and sustain operations. He's looking for new investors to help him open one or two more locations. He figures it would run about $750,000 to $1 million to open a location in an existing building and twice that for a new building. To attract investors, he's working on a business plan with the Greater Cincinnati & Northern Kentucky African American Chamber of Commerce, U.S. Small Business Administration and SCORE. He says the plan will include how the business expects to be making money a year after the expansion. He says not being in business long enough is among the reasons he has been given for being denied credit. "It's crucial for us to get the financing in the next few months because we could possibly be out of business without it," Scott says. He also hopes to again start selling Scott's BBQ Sauce, a family recipe he sold at local stores but took off the market about a year ago because he couldn't secure financing or a new manufacturer. Scott says he helped his brother, Robert, known as "Big Bob," launch the BBQ sauce. |
FOREST
PARK - Unable to get traditional bank financing for his barbecue business,
Larry Scott refused to give up.