June 10, 2004

If you’re planning on opening your own business, “look at every day as an adventure, play as hard as you work and never give up”, says Kelly Earle, Owner of Top Dollar Bargain Store in Penetanguishene.

This advice has worked well for Earle, who at the age of 23 became the youngest franchise owner in Top Dollar Bargain Store history.  Nearly four years later, Earle is still facing challenges, following new opportunities, and contributing to the community that has supported her.  During a Young Entrepreneur presentation at an area youth conference, Earle spoke about how she came to own her own business.

“It’s not your grades or how much money you have; it’s how much determination you have,” she said.

Earle’s story began after graduating from Penetanguishene Secondary School and for leaving for college to become an X-ray Technician.  Instructors advised her the job outlook was bleak, so she returned home.  She started work at Top Dollar Bargain Store while she decided what she wanted to do with her life.  At 21, she was the Manager/Cashier of the store, and quickly learned the day-to-day operations of the business.  Her daily duties involved deposits, supervising staff, hiring and interviewing new employees, as well as contacting all the major suppliers to place merchandise orders.

When the owners wanted to sell the store after being in operation for only one year, they offered Earle the first chance to purchase the business.  Recognizing this opportunity, she began making plans.  She approached two banks to obtain financing … and was rejected by both.

“At 23 years old, I never thought I could own my own business”, says Earle.  “At 23, I didn’t have anything – no house, no car, no experience, no collateral.”

But she didn’t give up.  Despite the discouraging encounter, Earle approached the North Simcoe Community Futures Development Corporation and worked closely with Debra Muenz, General Manager, developing a finance strategy and a five-year plan.  Earle also obtained valuable information on running her own business.

“She has a lot of determination and drive and is not afraid to work hard for what she wants,” says Muenz, who considers these vital qualities in a successful entrepreneur.

With support from her mother Patricia who co-signed on the loan, just after her 23rd birthday Kelly Earle became owner in Top Dollar Bargain Store.  Taking over the entire business has required much from Earle, who has put in 150 per cent, seven days a week, into improving her business.  This hard work paid off, literally – she’s been able to repay her business loan early.

“Kelly Earle sets a fine example of what a young person can accomplish,” says Muenz.  “She is not afraid to do what is necessary to succeed.”

Earle is now enjoying the fruits of her labor.  She continues to provide excellent service to her customers and has a knack for purchasing merchandise that appeal to the needs of her community.  In the past three years, Top Dollar Bargain Store has expanded to 3,200 square feet (from its original 2,500 sq ft), and further expansion may be on the horizon.  Earle has also increased her staff from four to six…and her newest employee is her recently retired mother, Patricia.