I get calls every single day from Spanish speakers who want to open businesses in the valley. Our Hispanic community is growing; new generations want to establish roots and want to build businesses to provide for their families. Unfortunately, there aren’t a lot of resources for commercial real estate or information on starting a business available in Spanish. We are working very hard to change that.

I do my best to walk these clients through the process and to provide guidance with the steps they need to take to achieve their goals. I don’t want to show them commercial real estate unless I’m confident that I’m going to help them succeed. A lot of people call me and want to invest their savings into a new business (restaurants are the most popular) but I can’t do that unless they are prepared and understand all that’s required to create, establish, and succeed in a new business. I am someone who believes anything is possible — you just need the right tools — and that’s what I’m trying to provide for my clients.

The first thing I suggest is to have a well-researched business plan in hand. Unfortunately, there are very few online resources available in Spanish about how to write a business plan, but there are some tools locally that can be helpful. Coventure is a nonprofit in Carbondale whose mission is to help people cultivate business solutions. It offers a lot of great programs and mentorship for the community. Again, there’s a concerning lack of resources in Spanish — something I’m committed to helping change.

It's also very important for my clients to understand they need enough capital for the first two years. A lot of people assume all they need is the money to launch the business, but most new businesses need time to become profitable: Two years is a conservative estimate. There are a lot of unforeseen costs, especially when it comes to commercial real estate in the Roaring Fork Valley. Our inventory is getting better, but chances are the property will need to be modified to suit the new business, which requires some construction costs. We all know the farther you go downvalley from Aspen, the more affordable the properties will be. Finally, they need to understand the sweat equity involved, and how much time and effort goes into starting your own business.

I also will work with entrepreneurs on financing and have developed a relationship with a local bank that works with Spanish speakers to ensure they understand the terms of their loan and what’s required to qualify. Once they have a business plan and are pre-approved for a small business loan, we can start looking at properties to see what may be available and what fits their budget. Once they find a property they want, I can help negotiate terms that help make the transaction more affordable. Whether that means negotiating with the bank on a lower interest rate, owner financing, lease-to-own, or asking for necessary improvements, I have found this to be part of the process where I can truly make a difference. 

I’ve found that people in this community are very supportive of Spanish speakers who want to start a business, even if they aren’t Hispanic. That has been very exciting and encouraging. The Glenwood Springs Chamber of Commerce recently asked me to be a part of their newly formed Hispanic Business Advisory Council, and I’m hopeful that soon we will be able to help provide more resources for our Hispanic community. It’s desperately needed and I’m so excited to work on this committee to help get us there.