March 10th, 2014 by Gwen Green
Dicus, owner of DC Trash in Russellville, Ark., wanted to enlarge his industrial, commercial and residential waste management company’s service area beyond Pope, Yell and Saline counties. In September 2012, Dicus contacted the ASBTDC regional office at Arkansas Tech University for help choosing where to add a new location to expand his customer base. He believed if he found an underserved population, he could earn their business with his pricing and service.
Using cutting-edge market research tools, ASBTDC provided a detailed market analysis showing neighboring Faulkner County to be fertile ground for expansion. Consulting with Dicus about the potential new market as well as the capital needed for the project, ASBTDC’s Nathan George recommended Dicus learn about his financing options through a student project.
Each semester, ASBTDC coordinates class projects to give university students at its host institutions the opportunity to put what they’ve learned into practice with actual businesses from the community.
“The student project was very helpful with my loan preparations. I was able to compare different interest rates and loan terms to find one that worked for my business. The students and the work they did for me were very impressive,” Dicus said.
Using this information along with ASBTDC consulting services, DC Trash received a loan for $1.1 million. The company used the funds to open a new Morrilton location in January 2014 to serve Faulkner County, creating seven new jobs and putting two new trucks on the road. Having outgrown his main location in Russellville, Dicus also purchased a larger building nearby for his offices and retained his old location as a truck service shop.
Through the help of the ASBTDC, DC Trash has added more than 1,000 new customers and recorded $867,000 in increased sales. “The market research and consulting I received was very accurate and ‘hit the nail on the head’ as far as the information I needed to make my expansion decision,” Dicus said.
As DC Trash looks for additional growth opportunities, the company will continue to rely on market research and assistance from ASBTDC. “We plan on continuing our relationship with this fine organization as we continually work towards expanding our operation into new territories,” said Dicus.
The company has been in operation since 2007 and employs 40 people. Learn more at dctrash.com.