SBDC spotlight: Phil Clark’s Martial Arts Academy
Phil Clark began teaching martial arts for the Ashland Area YMCA in 2003. Before to long, his classes were filled to capacity so he subleased some space in downtown Ashland and opened his own martial arts academy with his wife Cara.
He continued teaching classes in downtown Ashland until 2007. Once again, he outgrew his facility as class sizes increased. He located a larger facility for lease on Greenup Avenue and relocated his martial arts academy there to accommodate more students.
In November 2009, the Clarks requested Ashland SBDC services. The couple met with Kim Jenkins, management consultant for Ashland SBDC, to inquire about securing a loan to purchase commercial property and relocate/expand their martial arts academy.
Jenkins assisted them with business planning, financial forecasting, and loan packaging. They planned to increase enrollment by offering a larger variety of martial arts classes and to generate additional income by offering birthday parties and selling student uniforms and T-shirts.
As plans were discussed, the Ashland SBDC provided them with a worksheet so they could calculate their expansion costs, working capital needs, sales/income potential and overhead expenses.
Jenkins furnished them with guidance and advice on developing financial documentation for the company and loan options. In the months that followed, she worked with the pair to prepare their three-year cash flow/profit-loss financial projections and SBA loan paperwork for submission to a local bank.
In February, the Clarks reported they had been approved for an SBA Community Express loan. With the funds, they purchased and renovated commercial property on 28th Street and Bath Avenue.
Phil Clark’s Martial Arts Academy reopened for business in their new, larger location in March 2010. The new facility is 5,200 square feet and offers parents a spacious and comfortable waiting area with a TV and free wireless Internet service.
“We’re thankful to Kim and the staff of the Morehead State University-Ashland SBDC for helping us take our business to the next level. It’s nice to know we can turn to them when we have any questions or need help with growing our business,” said Cara Clark.
Most of Phil Clark’s classes are conducted on Tuesday and Thursday evenings and are available for ages three and up, and private lessons are available by appointment. The class offerings include preschool, youth and adult tae-kwon-do and adult Relson Gracie’s Jiu-Jitsu.
In the fall, they plan to offer children’s Relson Gracie Jiu-Jitsu classes. Phil Clark’s Martial Arts Academy is the only martial arts academy in Kentucky to be certified to teach the Relson Gracie Jiu-Jitsu methods.
The Clarks take pride in knowing they are offering more than just martial arts education. They also offer students lessons in basic human morals and respect, and students improve their overall confidence and self-esteem.
For additional information about Phil Clark’s Martial Arts Academy, you may call (606) 327-0004 or visit the Web site at www.ashlandtaekwondo.com.
Posted: 7-29-10
