Able to withstand the recession, and then thrive during the recovery, the entrepreneurial spirit goes unmatched. Honing a seemingly innate passion for advancement, innovation, and serving the global marketplace, small business owners still stand as the backbone of the U.S. economy.
The annual Black Enterprise Small Business Awards recognize those entrepreneurs who have not only emerged as solid enterprises, but also are agile enough to stay well ahead of the curve in their respective industries. The winners of the 2011 Small Business Awards will be announced at the Black Enterprise Entrepreneurs Conference + Expo hosted by Nationwide, May 22-25 in Atlanta.
From teens to tech and from next to now, check out this year’s 12 outstanding finalists:
TEENPRENEUR AWARD NOMINEES
This award recognizes entrepreneurs, age 19 or younger, committed to the tradition of Black business achievement.
Leanna’s Inc.
Type of business: Hair care products
Founder/CEO: Leanna Archer
Location: Central Islip, New York
www.leannashair.com
Launched in 2005, Leanna’s Inc. manufactures a line of natural hair products. With only word-of-mouth marketing and little advertising, the homegrown hair company experienced revenue growth for three consecutive years. The line of moisturizers, conditioners and hair treatments start at $10. The 15-year-old’s products, which generated $175,000 in sales, can be found in beauty supply stores in New York, New Jersey and Florida.
Creative Jewelry by Bridgeia’ LLC
Type of business: Custom designed, handcrafted jewelry manufacturer
Founder/CEO: Bridgeja’ Baker
Location: New Orleans
www.creativejewelrybybridgeja.com
After discovering a latent love of handcrafted jewelry during an emergency trip to the orthodontist, Bridgeja’ Baker, 13, developed a signature line of custom jewelry. Made from sterling silver, gold, gemstones, pearls or Swarovski crystals, Creative Jewelry by Bidgeia’ specializes in one-of-a-kind “center of attraction†pieces. For 2010, the company generated $10,000 in revenues. With nearly 30 beading classes under her belt, Baker, who started the business in December 2008, looks to create one-of-a-kind pieces specifically for fashonistas and middle to upper-class women.
AJ’s Hawaiian Iceez
Type of business: Flavor shaved ice cream and frozen deserts vendor
Co-Founder/CEO: Adam N. Holland
Co-Founder/COO: Jonathan K. Holland
Location: Brandywine, Maryland
www.ajsiceez.com
Originally founded during the summer of 2008 to help with their younger sister’s school tuition, 15-year-old Adam and 14-year-old Jonathan Holland’s frozen treats business is now a fledgling family-run enterprise. The Holland brothers sell authentic shaved ice treats at public and private events. With start-up capital from their parents — which was paid back with interest — the brothers generated revenues of $36,000 last year. They now own three ice machines and a trailer that serves as a mobile unit. The two are currently in talks to franchise their business to other teens.
BE NEXT NOMINEES
This award is presented to the fearless young entrepreneur age 21—35 tapped to be a future business leader.
Volt Energy LLC
Type of business: Green power installation firm
Co-Owner/Director of Business: Gilbert G. Campbell III
Co-Owner/Director of Operations: Simon Antonio Francis
Locations: Winston-Salem, North Carolina and Washington, DC
www.volt-energy.com
Volt Energy installs solar photovoltaics, solar thermal, and wind systems for governments, businesses, school systems, nonprofits, and utilities in North Carolina, Pennsylvania, and New Jersey. Owned and operated by Gilbert G. Campbell III and Simon Antonio Francis, both 31-years-old, the company secured lucrative contracts with big name companies, including Duke Energy, with whom it has a contract to sell energy for 8 cents per kilowatt-hour over a 15-year agreement. Volt Energy has seven full-time employees and generated $1 million in revenues last year. To keep the momentum, the company looks to expand into South Africa; a country the duo says has a high demand for renewable energy.
Roadstarr Motorsports Inc.
Type of business: Automotive customization company
Co-Founder/Co-President: Hassan Iddrissu
Co-Founder/Co-President: Hussein Iddrissu
Location: Los Angeles
www.roadstarr.com
Hassan and Hussein Iddrissu found away to capitalize off of America’s love of luxury and speed. In 2003, the brothers launched Los Angeles-based Roadstarr Motor and quickly caught the eye of Hollywood’s elite, including, John Travolta, Ralph Lauren, Kevin Spacey and Akon. The 15-person automotive customization company creates one-of-a-kind body works, tires and accessories as well as serves as a top shop for servicing European vehicles. The 33-year-old twins, identified as Black Enterprise’s 40 Next, generated $11 million in 2010 and after expanding their business to Europe and delving into the petroleum business in Ghana, the Iddrissu’s stand to make $16 million in 2011.
The Bulsard Group LLC
Type of business: Business process re-engineering firm
Founder/President: Latoya L. Wall
Location: Houston, TX
www.bulsardgroup.com
The Bulsard Group’s mission is to help businesses large and small do more with less. Founded by Latoya L. Wall, 30, the company uses data analytics and statistical analysis to streamline and make the business process more efficient. A Master Black Belt–the highest level for administering Six Sigma compliance–Wall’s clients include Chevron’s Gulf of Mexico Business Unit and Raytheon, a defense and homeland security company. The 40 Nexter’s firm generated $500,000 in sales last year.
INNOVATOR OF THE YEAR NOMINEES
This award is given to the business flourishing in an innovative industry or approaching entrepreneurship in a groundbreaking manner via their products or services.
Interventional Nephrology Specialists Access Center
Type of business: Interventional nephrology center
Co-Founder: Dr. Omar Davis
Co-Founder: Dr. Natarsha Grant
Location: Memphis, Tennessee
www.lifelinevascularaccess.com/locations/memphis.htm
Launched in 2007, Dr. Omar Davis and Natarsha Grant run an interventional nephrology center which provides patients suffering from kidney failure the necessary medical treatment and technology. Interventional nephrologists like Davis, 37, and Grant, 42, play a crucial role in helping patients who have undergone hemodialysis–drawing blood so it can be cleaned of toxins and then returned to the body. The Memphis-based facility services about 2,400 patients each year. The company estimates topping $6.5 million by year-end.
Street Smart LLC
Type of business: Footwear accessories
Founder/CEO: Eric Jackson
Location: Glen Burnie, MD
www.locklaces.com
Frustrated with uncooperative shoelaces, Eric Jackson invented Lock Laces, a patented elastic shoelace fastening system. Finding a core demographic, kids, seniors and the physically challenged, the company has seen steady revenue growth over the last three years and brought in $500,000 in 2010. Jackson established Street Smart LLC in 1999; the 42-year-old says customer service is a major factor in building the company’s brand awareness. With sales in excess of 250,000 units last year, the laces, which retail for $4.95, are gradually making their way into global markets including England.
MagnoGrip Inc.
Type of business: Manufactures magnetic tool storage gear and accessories
Founder/CEO: Andre Woolery
Locations: San Francisco, California and Shenzhen, China
www.mdgtools.com
With haphazard
hands when it came to home repair, 35-year-old Andre Woolery eventually developed and patented the Magno Grip magnetic wristband in 2005. Designed to fit on the wrist comfortably, a magnetic strip within the band holds on all drill bits, nails and minor tools while do-it-yourselfers get the job done. The band along with a line of magnetic tool accessories is sold at several large retailers across the nation including Lowe’s, Home Depot and a test launch in 80 Wal-mart stores this summer. Last year, Woolery estimated he’s sold over 400,000 units since launching the product and earned revenues of more than $1 million in sales.
SMALL BUSINESS OF THE YEAR NOMINEES
This award is presented to the small business owner whose efforts or entrepreneurial pursuits exemplify the passion and commitment needed to overcome adversity as well as attain success.
ALL(n)1 Security Services
Type of business: full-service security firm
Founder/CEO/President: Mary Parker
Locations: Atlanta
www.alln1security.com
Founded in 2001, ALL(n)1 offers security personnel and technology, traffic control, and law enforcement services primarily in Georgia, Mississippi, and Alabama. The company employs full-time and part-time security officers as well as technicians with experience in low voltage cable/wiring and installation of burglar alarm systems. Among the firms clients include Hartsfield-Jackson Atlanta International Airport and only a few months into 2011, Parker inked a five-year-deal with the city of Atlanta. ALL(n)1 was also selected by Coca-Cola to provide security for its 125th year celebration where the soft drink company welcomed 8,000 guests to Atlanta. The 250 staff firm closed out last year with $8.5 million in revenue.
Coalescence L.L.C
Co-founder/SVP and COO: Ian Y. Blount
Co-founder/CEO: Angela N. Cauley
Type of business: Custom food ingredient manufacturer
Location: Columbus, Ohio
www.coalescencellc.com
Coalescence custom blends spices, seasoning and nutritional premixes for national fast food chains such as Wendy’s, and companies offering prepackaged foods. Blount, 41, who serves as the company’s senior vice president and chief operating officer and his wife (company president), 39-year-old Cauley, founded Coalescence in 2005. Though high start up costs were the main entry to barrier into the industry, with the help of an angel investor and a lot of perseverance, Coalescence has inked deals with Kellogg’s, PepsiCo, Tyson and Wendy’s among others. Blount and Cauley expect revenue to reach $28 million in 2011 as the money hit its own record high in 2010 generating $24.5 million.
Monif C. Contemporary Plus Sizes
Type of business: Fashion line for plus-sized women
Founder/CEO: Monif Clarke
Location: New York City
www.monifc.com
Running a brick-and-mortar as well as operating an e-Commerce site, Monif Clarke, 32, tapped into an often ignored but highly visible demographic: full-figured women. Launched in 2005, the New York-based entrepreneur’s wide selection of apparel for plus-sized fashionitas generated $585,000 in 2010. The company opened a small boutique inside of its showroom in 2007. Clark also sells to independently owned shops in Atlanta, New Orleans, Milwaukee and even Australia, Bermuda and Jamaica. Optimizing its digital presence, Clark formed strategic partnerships with online retailers such as Overstock.com and Ideeli, both of which carry the line. These deals accounted for 42% in sales in 2010; the company anticipates year-end revenues of $1 million.
Join us in celebrating our 2011 Small Business Award nominees at Black Enterprise’s annual Entrepreneurs Conference, taking place May 22-25, 2011 in Atlanta, Georgia. Visit blackenterprise.com/ec for more details. As an incentive BE is offering you a discount on early registration: Just enter code BEDG295 and receive $200 off. Don’t miss this opportunity to receive valuable strategies and resources to help take your business to the next level.