By: Ketsen
Haregaichig
Director
Chuuk SBDC
Mr. and Mrs. Hersin Ruben from the Island of Fefan in the
Southern Namoneas Region opened the doors of Island Mart. Island Mart is
comprised of several businesses including the wholesaler/retailer of general merchandise,
a gas station, an ice block maker, and sea transportation.
The store first started in a small room in a rented house in
Sefin, Weno and four years later was relocated across the airport. After five
years of operation, Mr. Ruben purchased a piece of property within the downtown
area and established another wooden store. Years later, Mr. Ruben constructed a
new two story building and was completed in September of last year.
The Chuuk Small Business Development Center (SBDC) was there
to assist with free consultation and offer advice on how to prepare their
business plan especially in the financial projection area to request financing
from the bank. Because of SBDC’s help and the Hersin’s willingness and determination
to complete their business plan, they were able to secure a line of credit from
the FSM Development Bank. This line of credit helped them purchase additional
inventory before the grand opening of the new two-story Island Mart.
On September 30, 2013 a small crowd gathered for the grand
opening and blessing ceremony of the store which stands in the heart of
downtown area, Weno. The new two story mart is conveniently located right in
the corner of the main road and the road to the Transco Dock which caters to businesses
and commuters who accept exceptional services and good quality, inexpensive
items.
On our quick walk through the beautifully redecorated store,
we found the prices to be more competitive on some of the items we had the
opportunity to see. There was a large selection of meat cuts, frozen foods, and
ice cream presented in the well stocked refrigerators and freezers. On the
second floor, we found clothing for both men and women and the offices for the
manager and the owners. Outside the owner’s office, there was another space for
customers to sit and see the view of the beautiful islands in the lagoon.
For
more information on how the Chuuk SBDC can help you, please contact Ketsen Haregaichig
at 691-330-5846 or e-mail ketsen@pacificsbdc.com.
