Chameleon
Cammie Hambrice, Owner
Magnolia, Arkansas
Cammie Hambrice has worked in the retail industry for over 23 years, but always for someone else. In the fall of 2002, she decided it was time for a change and she began to make preparations to open her own business. In January, she attended a Southern Arkansas University SBDC workshop, Starting a Business in Arkansas, and followed that with attendance at How to Write a Business Plan held in February.
In July, Hambrice asked Paul Considine, center director of the SAU SBDC, to assist her in developing a business plan and loan application to purchase an existing business. Those efforts allowed Hambrice to obtain a loan approval and to begin negotiations with the owners. They were not able to come to a mutual agreement. Hambrice was disappointed but not stopped.
In August, she again met with Considine, this time to develop a plan to open a specialty gift store that would be located in downtown Magnolia. Together they developed a business strategy, sales projections and cash flow statements. With a new plan in hand Hambrice was able to secure financing from Peoples Bank in Magnolia in partnership with the Southwest Planning and Development District's Economic Fund.
After extensive remodeling to the building, installing shelves and racks and purchasing inventory, Chameleon opened its doors for business on November 1, 2003. For Cammie Hambrice and Chameleon, the change has begun.
