Senior Kelly LeCoy wins Regional Business Plan Competition

Calvin senior Kelly LeCoy's business plan won top honors in the 2011 Regional Business Plan Competition held Tuesday, April 13 at Grand Valley State University.

See full story: http://www.calvin.edu/news/archive/senior-wins-regional-bizplan

LeCoy, a senior business major, presented the idea: "Uptown Kitchen and the Shoppe at Uptown Kitchen." Her plan is to create a kitchen that people can rent and use the space to sell their products in stores.

LeCoy came up with the idea after talking with the owner of a store on Wealthy Street: "She had people coming in and wanting to sell their food products but not being able to because of the food law in Michigan," said LeCoy.

So, LeCoy took action. She put together a comprehensive business plan for an idea that would solve this issue.

"She hit on all her points," said Calvin business professor Bob Medema. "She emphasized the market need. She analyzed the market. She developed a reasonable strategy. She provided detailed financial analysis. She presented an investment strategy."

LeCoy's business plan bested those of competitors from Grand Valley State University, Aquinas College, Cornerstone University, Davenport University, Hope College and Grand Rapids Community College. Her prize was $3,000 in seed money and in-kind professional consulting services to further refine the plan.

LeCoy plans to take advantage of both the capital and the advice. She visualizes the original space as small-"Typically you have a catering space, storage and a cooler"-and adaptable to the needs of different cooks. The operation would give a lift to start-up food purveyors: "It takes away a lot of the overhead for them so that they can get their business started," LeCoy said.

The plan, LeCoy's honors thesis, took a long time to refine-and it went through many reviews by LeCoy's professors, friends and even family. She worked closely with Medema, her advisor, and business professor Thomas Betts. "They walked me through my presentation," she said. "That was definitely an advantage for me." Calvin's re-envisioned business program, with its emphasis on experiential learning, was another big plus, she said.

For more info, contact Medema at 616-526-6380 or rmedema@calvin.edu

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Received on Fri Apr 15 09:36:11 2011