In March 2020, Kelsey Rioux embarked on the exciting journey of acquiring Artistry Dance Center, previously known as The Putnam Dance Center, founded in 1996. For three years, she worked alongside the previous owner, ensuring a seamless transition. By June 2021, Kelsey officially took over, continuing the center’s rich legacy while bringing fresh ideas and energy. Artistry Dance Center offers a complete dance education program, from beginners to advanced levels. The center focuses on developing coordination, grace, physical fitness, and time management while fostering self-esteem and confidence. Kelsey's Team, Kelsey’s team delivers top-notch instruction while providing a safe and fun experience for dancers.
Business Started
2021
Capital Access
$40,000
Overcoming Business Challenges with CTSBDC Support
"My primary needs were not only learning more about the business world in general, but the very specific financial and tax needs that needed to be met to comply with state and federal standards in owning a business. " Kelsey shared. She also sought moral and emotional support as she navigated the complexities of owning a business.
The service and counseling provided to Kelsey Rioux were essential in guiding her through the critical steps of acquiring Artistry Dance Center, especially during her first year of ownership. The business advising services were instrumental in supporting her through the loan application process.
“Mary Kay, my business advisor, provided guidance with preparing the necessary documentation, helped refine my business plan to meet lender requirements, and offered insights on presenting a compelling case to financial institutions,” Kelsey shared. “Her advice regarding financial projections was invaluable, ensuring my application was thorough and convincing. I was able to acquire the knowledge needed, felt the support to ask clarifying questions, and felt validated in my journey.”
Financial Milestones
With the support and guidance of CTSBDC business advisor Mary Kay Della Camera, Kelsey secured the critical financing necessary to acquire Artistry Dance Center. Thanks to Mary Kay’s expertise, Kelsey obtained a Liberty Bank Commercial Loan of $35,600, along with Seller Financing of $4,400, and contributed an Owner Investment of $7,500. Kelsey also invested a substantial portion of her finances and continues to reinvest profits to support the ongoing growth of the business.
Key Lessons Learned with CTSBDC
Since working with CTSBDC, Kelsey Rioux has gained valuable insights into her business. “I have learned more about exactly what aspects of my business are tax deductible and which are not. Mary Kay provided guidance, and support, and made Kelsey a priority, ensuring she felt confident throughout the business journey. “Regardless of our communication frequency, she keeps me in mind, sending follow-ups and well wishes. I’m delighted to have been partnered with her,” Kelsey shared.
"I have had the honor and pleasure of working with Kelsey for 2.5 years. The studio was a piece of her, reflecting her passion and mission to provide dance education for all levels while building self-esteem and confidence – Mary Kay, CTSBDC Business Advisor. The studio now has grown to over 200 students.
Encouraging Other Small Business Owners to Work with SBDC
Kelsey Rioux strongly encourages other small business owners to work with the SBDC. “I would strongly encourage them to work with SBDC for comfort alone, but also the immense support and validation of working through the process the right way, the first time. After being misled in other directions, this was a big deal for me.”
A Passionate Journey
“I witnessed the immense joy the owner derived from teaching and mentoring. I felt deeply connected to this lifestyle and envisioned myself thriving in it,” Kelsey shares.
Despite knowing it would be a challenging path, Kelsey decided to pursue her passion. While finishing her undergraduate studies, she collaborated with the owner to learn business. In 2021, Kelsey officially took over Artistry Dance Center.