Lost Creek Supply 2017 FHSU Emerging Business
Friday, August 25, 2017
“We have an older community but there are a lot of young people coming back to the area,” said Kaid Bauman as he is among a new generation of emerging business owners. Lost Creek Supply started with a building, a market in the community, and a need for flexibility and family.
Kaid was referred to the KSBDC and he remembers he initial meeting, “I learned so much from just sitting and talking for that hour.”
Now the farm supply store is open and doing better than they had expected. Kaid says the best things about being an entrepreneur is being your own boss. He appreciates being flexible to do things the way he wants, whether they are right or learning experiences. He has been able to talk with the community and fill his sales floor and find the best deals for their needs. He is also able to give his father a project where he is not out in the heat of their family farm. Kaid is flexible for his own family of 5 and he takes a great sense of pride when he sees the fruits of his labor.
“That’s our sign,” he exclaims. His open house was most memorable not only because of the new customers stopping in but the community members who don’t have farms or livestock who came in to support them thanking them for the new business in town. Kaid states that first and foremost the support of his trusting wife Christa is the number one key to his success. He mentioned to her recently that he is thinking about bringing in dog food. Her response was, “ok.” He appreciates the community and his family support system as well.
The former Coop worker, former dress shop owner, and the KSBDC have worked though the behind the scenes dilemmas and have been there for guidance. One thing that stood out to Kaid the spreadsheet the KSBDC provided of potential customers in a 50 mile radius and that helped him branch out to new people and get his name out.
Another hard part of starting his business from scratch was knowing what to sell, how much inventory to carry, and what are seasonal items. His experience taught him to “do your homework and get in with good companies.” One vendor company owner came to Kensington to be a part of his open house and that meant a lot to Kaid.
His advice to anyone starting a business is, “Go talk to them,” referring them to the KSBDC. “You may think you know what you are doing, then you sit down with them!” Kaid adds, “We don’t want our experience with the KSBDC to be a one and done experience. We want to keep using the knowledge of the center as a tool as we continue.”