Issue link: https://nebusinessmedia.uberflip.com/i/503901
W W W. M A I N E B I Z . B I Z 15 M AY 4 , 2 0 1 5 He spent almost two years carefully planning his re-entry into the lobster distribution business. From the begin- ning, he was thinking big. Typically, he says, new lobster dealers start small, building facilities capable of holding 20,000 to 30,000 pounds of lobsters at a time. His plans called for retrofi tting an existing industrial facility in York and installing holding tanks with a capac- ity of 150,000 pounds. e fi rst bank he went to, he says, turned him down, say- ing, " is is pretty large for a start-up." Adams says he eventually found a willing lender in Bangor Savings Bank, which, in 2011 and every year since, has been the top SBA lender in Maine. Acknowledging that both the bank and SBA put his business plan through a rig- orous review process, Adams says he rec- ognized "they asked the right questions." " ey wanted me to cross every 'T' and dot every 'I,'" he says. "It took longer [to close the loan], but I felt it was worth my time to make sure everything we did was right." Adams says he resisted locating in nearby New Hampshire — with no income or sales taxes and closer prox- imity to international airports — for a very simple reason. "I chose to stay in Maine because I wanted to say I was a 'Maine' lobster company," he says. "Aside from the fact that my family has lived in Maine for many genera- tions, my marketing eff ort from the start has been based on the fact that I am a Maine lobster business." He also knew, from the start, that investing heavily in marketing was important. "I wanted to get name recognition very quickly and worldwide," he says. "We're spending well over $100,000 in marketing and advertising. We've invested heavily in trade shows, advertising, building our website with a responsive design that would work C O N T I N U E D O N PA G E 1 8 » M A I N E I N T E R N A T I O N A L T R A D E C E N T E R P R E S E N T S THURSDAY May 21 8:30 AM - 2:30 PM Samoset Resort Rockport, ME __________ How can your business prepare for the changing workforce of tomorrow? Register Now! mitc.com Award Sponsors Diplomat Sponsors Dignitary Sponsor Ambassador Sponsor Maine's Air Cargo Gateway to the World Global Markets Accessed Daily Whether fl ying on international business or shipping Maine goods worldwide, Bangor International Airport helps Maine businesses reach new heights every day. Learn more at FlyBangor.com BGR_MEBiz_EconDev_042215.indd 1 4/22/15 2:44 PM Maine Coast Shellfish LLC 15 Hannaford Drive, York Founded: 2011 Founder, owner and CEO: Tom Adams Services: Worldwide distributor of lobsters, clams, mussels, oysters and periwinkles. Sales: $40 million in 2014 Employees: 25 full-time Contact: 207-363-0876 www.mainecoastcompany.com