NOVEMBER 2014
Littleton, NH – In a few short years Bailiwicks Restaurant has gone from one location to two new, very successful locations. Operations have thrived thanks to a strategic relocation of the initial Littleton, NH operation as well as, opening a new restaurant in St. Johnsbury. VT.
Bailiwicks originated in the basement of Littleton’s historic Thayer’s Inn in 2007. The restaurant quickly enjoyed a loyal following and word spread of the quality of food and comfortable atmosphere.
In 2012, owners Stacey and Steve Northrop saw the opportunity to open a second restaurant in St. Johnsbury in the former Elements restaurant location. At that time, they were referred to NCIC by a local bank to assist with financing. “NCIC gave us a chance to start a second business when conventional lenders would not take the risk. They not only lent us money for upstart, but they have provided us with support every step of the way,” stated Bailiwick’s Owner, Stacey Northrop.
As the location was renovated, costs quickly exceeded the projected budget. The increased expenses and operating two locations proved very challenging. As these challenges grew, the Northrops once again approached NCIC for additional funds.
Upon closer examination it was determined that working with business coach, Ann Connor of AdviCoach might rectify these problems without creating additional debt. The coaching quickly resulted in the Northrop’s having a direct picture of their finances and margins, without having to constantly refer to a part-time accountant.
A final hurdle was cleared following the flooding of the Littleton, NH, Thayer’s Inn location due to frozen pipes. Bailiwicks acquired more visible space across Littleton’s Main St. that had been occupied for decades by the Italian Oasis. Renovations were made to the new, larger location prior to reopening. Currently, both operations are flourishing.