August 28, 2020
Hannibal, MO. – Corey Mehaffy, Executive Director of the Hannibal Regional Economic Development Council (HREDC) announced today that the Quarry House, a new Airbnb, is scheduled open its doors for business by the first quarter of 2021. While planning began over a year ago, demo work just started on August 3rd.
According to HREDC SBDC Entrepreneurship Specialist Brittany Weldy, the business model has transitioned through multiple iterations before landing on the current concept. Weldy added, “We were able to work with Charlie and Laurel to refine their business plan based on industry research, input from the local lending institutions and input from the clients based on their conversations with other business owners. We feel like this business model is leaner and will create a better opportunity for long-term success.”
The Quarry House Co-owner Charlie Phillips added, “The HREDC-SBDC office was instrumental in helping us to define our goals and especially providing direction to help us avoid bad decisions. We needed to clarify our goals and avoid unrealistic expectations.”
Phillips added, “Highest on the list of aid we received was using the LivePlan software and developing a finished business plan to present to lenders.” Brittany Weldy added, “We work with clients to develop their business plan and financial projections. We can assist them in finding the capital needed to bring the projects to reality. We work with local lending institutions, area Revolving Loan Funds like the RLF offered by the Mark Twain Regional Council of Governments and private investors through the HREDC Investor Network.”
According to Weldy, this type of assistance is important to business owners at any stage of business. Weldy added, “The Missouri SBDC at HREDC offers one-on-one counseling on various business topics from understanding financial statements, customer discovery, business planning, cash flow analysis, and other events based upon the needs of our clients. We are here to help businesses in every stage. From concept to startup, growth to renewal, mature to succession.”
Corey Mehaffy stated, “I would like to thank 4th Ward Councilman Alan Bowen for his assistance with this project, as well. Councilman Bowen referred the Phillips to the HREDC-SBDC for assistance last year. In addition, Councilman Bowen has assisted in conversations with the City and MODOT regarding potential enhancements for the project.”
According to Mehaffy, this has truly been a team effort to begin to see this project come to fruition. The Phillips have hired Countryside Décor as their general contractor for the remodel. Austin Simms, owner, and his 4-person crew plan to finish the remodel phase sometime in mid-November of this year.
“We are excited to be a new “south side” business and able to represent Hannibal. Also, we’re pleased to begin a new life in retirement,” co-owner Charlie Phillips exclaimed. The historic structure located at 511 Birch St. is undergoing a complete remodel and will be a real asset to the community. The facility is located on Highway 79 and very visible as you enter the community. Mehaffy added, “I am grateful to Charlie and Laurel for their willingness to make this important investment in the community to restore another one of Hannibal’s historic structures.”
The Quarry House Facebook page is scheduled to go live in September. Be sure to like the page to follow the transformation of the facility as well as the beginning stages of this new “Southside” business in Hannibal.
HREDC works to promote financial investment in Hannibal, and Marion and Ralls Counties. For more information on the organization, please visit their website at www.hredc.com.