Leaf & Petal Blooms with SBDC Capital Access
Leaf & Petal, a treasured garden and home center, has grown from a small family-owned business into a thriving retail hub. Jamie Pursell’s family purchased Leaf & Petal in 2005 with a single location in Mountain Brook Village, Alabama. The Pursell family added a second location and the gift shop at the Birmingham Botanical Gardens in 2007. In 2013, Jamie vacationed in London, England, and found himself inspired by the business models that blended garden and food retail. As a result, Jamie envisioned his space where customers could shop for plants while enjoying gourmet coffee and fresh pastries in a beautifully designed setting. However, transforming this dream into reality required substantial financing for a property purchase.
To secure the necessary funding, Jamie acquired assistance from the Alabama Small Business Development Center (ASBDC) at the University of Alabama. The ASBDC and their Capital Access team assisted him with reviewing financing options and ultimately helped him to secure an SBA 504 loan of $4.1 million for a 4,000-square-foot greenhouse in Cahaba Heights that doubles as an event space, allowing him to bring his vision to life. This financial support enabled Jamie to open the new location in Cahaba Heights by 2018 creating a unique garden center with a café, restaurant, and event space. The addition of event space has been used for yoga lessons, dinners, and even weddings which has solidified the business’s popularity becoming an immediate success, attracting customers, and fostering a unique community experience.
The new location of Leaf & Petal exceeded expectations, both in terms of financial success and community engagement. The business employs over 50 people and is a hub for local gatherings. The COVID-19 Pandemic, despite challenges, led to increased demand for plants and gardening supplies as people sought outdoor activities. The business thrived by adapting its staffing model, shifting employees between locations, and sourcing products from the local community. The company’s core values of customer loyalty, employee support, and community collaboration became more apparent than ever. Thanks to the ASBDC’s help, Jamie’s dream of a one-of-a-kind garden center café became a vibrant business that continues to grow. So much so that Jamie was able to pay the loan off in less than five years, well ahead of the 20-year term. Today, there are three locations in the Greater Birmingham area. Jamie states “Our ideas are limitless, and our dreams are big”. That has become the Leaf & Petal mantra, and Jamie has lived by it as he has ambitiously developed this unique business with the ASBDC by his side.
Source: https://www.sba.gov/success-story/alabama-gardner-center-blooms-help-sbdc-capital-access-team