Shannon Bisset and her husband Anthony Cavallin, both from Sudbury, had a business dream of filling a niche in the moving industry. They had a plan to develop a customized moving container for homeowners in transition who required secure mobile storage for their valuables.
The couple knew they needed others to invest in their enterprise called Cubeit to grow the business. They began making numerous informal pitches to prospective investors over a series of months with no success at all.
Cubeit Portable Storage eliminates stress by delivering a portable secure weather-proof cube right to your door. Once loaded, they will move the cube directly to your new home or store it in their indoor facility. For more information, go to www.cubeit.ca.
Their accountant, Bernie Freelandt of Freelandt Caldwell Reilly encouraged the entrepreneurs to participate in the Northern Ontario Enterprise Gateway’s “Becoming an Investor-Ready Entrepreneur” program to understand what it takes to become Investor-Ready.
Shannon participated in the FedNor sponsored NOEG program, “Becoming an Investor-Ready Entrepreneur™” held in Sudbury in November 2007.
Bisset comments, “I could not believe the amount of useful and timely information I learned about angel investing at the NOEG session.” She indicated that prior to participating in the program, Cubeit’s pitches were very informal, random in nature and missing valuable information the founders hadn’t realized was important to attract angel investors.
Within three months time, Shannon says, “I went back and systematically implemented everything I learned from the NOEG program and workbook and significantly improved our business presentation."
In short time, Bisset and Cavallin secured the interest and investment of three highly regarded angel investors; the founder of AMJ Campbell Vanlines and Premier Vanlines, a retired banker and the founder of Premier Executive Suites.
“We understood the value of finding and attracting angel investors who were experts in our industry and who could support us with their mentorship and management experience,” says Bisset.
“I have learned so much from all three angels. We now have an expert in the moving industry who has introduced us to his network and negotiated deals with his networks on our behalf. The founder of Premier Suites has extensive experience in franchising and has helped us establish our franchising plan,” says Cavallin.
Even more than opening the doors of opportunity for these northern entrepreneurs, the trio of angels has helped secure a strong management team for Cubeit.
“I have to say it is so exciting in our business right now. We have such camaraderie with our angel investors. It is such a great feeling to be part of a very strong team with a high degree of synergy,” says Bisset.
Cubeit is now expanding and opening its first franchise in Mississauga. Shannon comments that the couple is committed to the north. “All our professional advisors; accountants, lawyers and banks are in the north and we expect to open a location in Sudbury very soon.”
The Northern Ontario Enterprise Gateway, in partnership with FedNor, acts as a catalyst to improve the flow of investment capital and management expertise into high growth Northern Ontario companies. NOEG accomplishes this by linking Northern Ontario investors and entrepreneurs. For more information, go to www.noeg.ca.
Becoming an Investor-Ready Entrepreneur is a program developed by the NC SBTDC and modified with permission for use in Northern Ontario by NOEG.
