California Capital FDC Newsletter
June 2015
In This Issue
Welcome to the California Capital E-Newsletter.  Here at California Capital, we value up-to-date research on small businesses and we want to share that information with you.  In this monthly e-newsletter, you'll find an abundance of newly released data relevant to a wide variety of small business-related issues.  This month we put the spotlight on the latino small business owners.  In addition, we share our first BUSINESS SUCCESS STORY featuring local business owner David Aragon. In this newsletter, you'll also find a list of upcoming classes offered through the Women's Business Center (WBC) and the Procurement Technical Assistance Center (PTAC).  Enjoy and we hope to see you at California Capital events and workshops!

California Capital is on Facebook!  Click here to begin following us!  

 

 

Hispanic Small Business Data

 

 

 

 

 

Source


"Latino small businesses are nation's fastest-growing"
Click here to read a recent Sacramento Bee article on Latino small business owners.  

Article highlights:

  • "Three out of every four new American businesses are Latino owned
  • As small-business owners, they are susceptible to cyberfraud
  • New Visa credit cards will be embedded with security chips to deter fraud"

CALIFORNIA CAPITAL SUCCESS STORY SPOTLIGHT: David Aragon and Araparts

 

California Capital is happy to share David Aragon's business success story.  This is the first business success story to be featured in our e-newsletter.  We hope to highlight more great and local small business owners in future months!


 

David Aragon is a small business owner who runs Araparts and auto parts company and recently we asked him a few questions.  


 

Can you give us a brief bio? 

My name is David Aragon.  I'm 25 years old, and I was born in Oakland, California. I grew up in the bay area, and lived in Orlando, Florida for 4 years. I'm an avid car enthusiast who loves everything about anything with a motor that moves...gasoline or electric lol. I like working on things, and making them better. I think cars and engineering is like art. My favorite example of this is the Tesla Model S.

 

What got you started in your particular area of business?

I've always loved cars, and I've always wanted to own a performance racing shop since I was about 14. I bought my first car (1991 Toyota MR2 Turbo) when I was 16 for $3,000 and I totaled it 7 months later in a rollover accident. I only had liability so I had to beg my parents to let me keep in in the driveway and part it out so I can get my money back.  I ended up making almost $7,000 off of it. I would get my paycheck from work and think "I just made $700 this week on the side..why am I working 20 hours a week for 450 bucks a month??".


 

There was a part on the car (the t-top shade knob) that several people kept asking me to separate from the entire t-top shade. Toyota didn't sell this part separately, and the shade was discontinued. I decided that I was going to re-engineer the part myself.


 

[skip forward a few years..moved back to Cali. Got a full time job at 18. Started to save money. Got laid off during recession]


 

At 19 years old I successfully completed the reproduction of the product (from prototype to product. Had a CNC mold made in China and made about 3,000 knobs) and started selling them. It even ended up at some of the local Toyota dealerships through some resellers. I only broke even on this product, but I was hooked. I started looking for other ways to make money in the auto industry, and found out that ignition coils were a hot product, and I decided to do the traditional buy and sell in my own private label brand "Araparts". In the future I will continue to re-produce new products to market when I have more money to create molds, but this was the perfect start I've been looking for.

 

What challenges did you face when starting your business?

There were many challenges. The biggest one was with myself. There were times that I would think that it would never work, but I had to fight it off. Money was a big one. I crunched my money as much as possible to save as much as I could for a better launch. I could have bough a nicer car, but I didn't. Making it in business sooner than later was the only thing on my mind. I had to find a product that I could drop like fire. I tried spark plug wires. I bought about $9,000 worth, and it was okay. It would bring in about 800-1,000 in sales per month, but it was not enough. Eventually I found one product that was selling like hot cakes. Ignition coils for Fords. I bought $10,000 worth of coils for Fords at cost, and started selling them March 3rd, 2012. In 30 days I sold $21,000 worth of the single product, and sold out completely. I ended up making $186,000 in sales that year and used 100% of the profit to add more products and grow revenue. That has been the plan since; all while I was working as a mechanic at Les Schwab. In 2013, I doubled revenue, left Les Schwab, and got a small office/warehouse, and have been growing ever since.

 

How did you hear about California Capital?

I was transitioning from Spark plug wires to ignition coils, and I needed a little more capital to get the $10,000 for the ignition coils. I spoke with several lenders who thought I was a joke ( I looked/still kinda look like an 18-19 year old). I was denied for every reason in the book. Nobody even wanted to hear me out. When I spoke with Anthony Rucker from California capital, we set up an appointment and let me come in to explain everything so they could understand it better. I was concerned with having too many unnecessary inquiries on my credit so I wanted them to look at everything from my end, decide if they were going to go forward with it, and then run my credit after they've made the decision (just to make sure everything lines up). Anthony Rucker was all for it, and was pushing to get the loan...(deleted to keep loan information private). It was the best experience I've ever had with any loan company, ever....


 

CLICK HERE TO CHECK OUT DAVID'S BUSINESS ARAPARTS

  

 


 

UPCOMING JUNE CALIFORNIA CAPITAL WORKSHOPS

 

 

 

Date

Time

Topic

Location

June 2

10:00am - 11:30am

How to Communicate & Build Relationships with Government Agencies

Webinar/Online

June 2

10:30 am - 11:30 am

Weekly Business Owner's Mastermind Call

Podcast

June 2

   1:00pm - 3:00pm

Marketing to the Government

CA Capital WBC

June 3

9:30am - 11:30am

Your Retirement Income - Making it Last and Enjoying It!

CA Capital WBC

June 3

   1:00pm - 3:00pm

Record Keeping for Small Businesses with the Internal Revenue Service

CA Capital WBC

June 4

10:00am - 12:00pm

WANTED: Business People Who Need the Right Tools to Grow their Business/Women's Brunch at Learn with the Small Business Administration

SBA Regional Office in Citrus Heights

June 4

   1:00pm - 2:30pm

Business 101

CA Capital WBC

June 9

9:30am - 11:30am

System for Award Management (SAM) Lab with the Small Business Administration

CA Capital WBC

June 9

10:30am - 11:30am

Weekly Business Owner's Mastermind Call

Podcast

Date

Time

Topic

Location

June 10

9:30am - 11:30am

Department of General Services (DGS) Certification Lab

CA Capital WBC

June 11

9:30am - 11:30am

How to Contract with the Federal Government

CA Capital WBC

June 11

1:00pm - 3:00pm

Doing Business with the Sacramento Municipal Utility District

CA Capital WBC

June 16

10:00am - 11:30am

Local Aspects of Teaming - Rules and Regulations

Webinar/Online

June 16

10:30am - 11:30am

Weekly Business Owner's Mastermind Call

Podcast

June 16

   1:00pm - 3:00pm

Contracting 101 with the Small Business Administration

CA Capital WBC

June 17

10:00am - 12:00pm

Business Loan Readiness

Safe Credit Union

June 18

9:30am - 11:30am

ROTH-IRA Conversions 101

CA Capital WBC

June 18

   1:00pm - 2:30pm

Business 101

CA Capital WBC

June 23

9:30am - 11:30am

Employment Taxes and Nonprofit Organizations Seminar with the Employment Development Department

CA Capital WBC

June 23

10:30am - 11:30am

Weekly Business Owner's Mastermind Call

Podcast

Date

Time

Topic

Location

June 24

10:0 am - 12:00pm

Financing Opportunities for Small Businesses

Safe Credit Union

June 25

9:30am - 11:30am

Business Loan Readiness

CA Capital WBC

June 25

1:00pm - 2:30pm

Leveraging the Power of Mentor-Protégé Programs

Webinar/Online

June 30

10:00am - 11:30am

Proposal Writing 101

Webinar/Online

June 30

10:30 am - 11:30am

Weekly Business Owner's Mastermind Call

Podcast

June 30

1:00pm - 3:00am

New Business Development Tools for Small Businesses by the U.S. Census Bureau

CA Capital WBC

 

 

  Green indicates PTAC or WBC class

 

 

See our website calendar for more webinars and events.

Thank you for reading our e-newsletter!  We hope to see you at California Capital events and workshops.