Mother Myrick's Confectionary

Abstract

Ron Mancini and his wife Jacki had owned and operated Mother Myrick's Confectionery, located in Manchester Vermont, USA for 35 years. In 2005, they closed their downtown shop, shed the ice cream business, and relocated the retail store to the edge of town. In the process, the company took on USD205,000 in notes payable. The move reduced revenues but increased their bottom line. Company revenues topped USD800K for 2012 for the first time since they closed the ice cream parlor. Ron thought about the balloon loan payment due on February 20, 2013. He had sufficient cash to pay it off, but that could leave him short in the fall when they were busy making product for the holiday season. Ron developed a one-page business plan in January and provided it to several area banks. Beyond the loan, Ron and Jacki had decisions to make about the company's future. Ron had children from previous marriage, but they had careers of their own, and were not interested in the confectionery business. He could sell the organization outright. Taking on new debt now, however, would make the company less attractive. He also thought about bringing on new partners and teaching them the business.

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