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V O L . X X X N O. X I M AY 1 3 , 2 0 2 4 24 S M A L L B U S I N E S S P H O T O / C R E D I T Michael Begley is owner of Peace Love Waffles in Dover-Foxcroft. He says Maine SBDC helped him figure out the financial and business plan. F O C U S I n November 2019, Peace Love Waffles opened in the Piscataquis County town of Dover-Foxcroft. Erin Riley, her husband, Doug Campbell, and her son, Michael Begley, initially ran the waffle-centric breakfast and brunch spot in a rented location. But Riley had bought a vintage barn at 1282 Bangor Road with the idea of even- tually relocating there. After a pause during the pandemic, Peace Love Waffles was back in business in February 2021, this time at the new location. "After our first summer there, we exceeded expectations," says Begley. But Riley didn't want the restaurant life anymore, so she put the business and the property up for sale. Begley decided to buy them out, but didn't have owner- ship experience. He contacted the Maine Small Business Development Centers, which supports entrepreneurs and small busi- nesses through advising, training and resources and provides no-cost, confi- dential business advice to clients. "Figuring out the finances was the first step," says Begley. "en they were able to take me step by step on what I was going to need to purchase the busi- ness and how best to set it up." An advisor helped him figure out things like ownership structure, how to build up his credit score and how to get a business loan. "It seemed like during the process of purchasing the business, I had 10 new questions every day," Begley says. "It was pretty amazing to be able to have them either help me find the answer or con- firm that I had the correct answer." Business boom Begley is one of hundreds of clients each year using Maine Small Business Development Centers. In 2023, Maine SBDC's advisory services helped 2,289 entrepreneurs and It seemed like during the process of purchasing the business, I had 10 new questions every day. — Michael Begley Peace Love Waffles P H O T O / F R E D F I E L D Maine's Small Business Development Centers expand their reach SUPPORT for SMALL BUSINESSES B y L a u r i e S c h r e i b e r