I learned about Kari Herman through the Colorado Springs Business Journal (CSBJ). Kari is a 20 year old entrepreneur and owner of Synergy Dance Academy.
Kari went to a prestigious dance school, gained experience in teaching classes, and lined up a roster of clients for her new business. She then ran into a problem that many young business owners face at some point – the business world did not take her seriously.
Despite having clients ready to pay, she could not find a landlord who would treat her like a businesswoman. They all said she was too young and would not succeed. She finally found someone she could work with but had to pay a full 8 months rent in advance to get her location.
Not having the money needed to pay the massive rent payment she turned to traditional lenders who turned her down because did not have a long credit history and few assets to her name.
Like most young entrepreneurs who succeed, Kari had to think outside the box. She turned to 10 of her clients and spoke with their parents to explain the situation. She managed to convince all of them to pay for the lessons of their children one year up front. Kari used the money to secure her location and start her business.
Just three months after writing her business plan Kari was up and running. “I was sanding the wood floors and putting on the finish the night before we opened. I was 20 years old so I could stay up all night,” she said. “In some ways being young worked against me. In other ways it was an advantage because I had a lot of energy and a lot of time to invest.”
Evan Carmichael
Matthew Toren is an Award Winning Author, Serial Entrepreneur, and Investor. He Co-Founded YoungEntrepreneur.com along with his brother Adam. Matthew is co-author of the newly released book:Small Business, Big Vision: “Lessons on How to Dominate Your Market from Self-Made Entrepreneurs Who Did it Right” and also co-author of Kidpreneurs.
What a great story. I hope Kari continues to do well.
Hi Evan,
Glad you enjoyed the story. One thing to note, Kari is now 24 years old. She started the business four years ago.
Having a family member who has taken dance at Kari’s studio, I have to say that Kari is a brilliant teacher snd choreographer. She has it all – beauty, talent, and most of all, she has courage.
Kari is an inspiration to us all in the dance world. She never ceases to amaze us!
well,
despite Kari’s BIG mistake a couple years ago with the high school students. . . . . . she is a good person.
i like her dances that i have seen,
. . entertaining i guess.
Sarah- what did you mean by BIG mistake with high school students?
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