Entrepreneur Archive:
Shaffer's Substation

Shaffer's Substation—Ellsinore, MO
Assisted by:
Gil Degenhardt & Larry Cooper, Small Business Development Center at Southeast Missouri State University

A history in the power industry lit the spark for Robert Shaffer and his family to open Shaffer's Substation, an Ellsinore-based electrical substation construction business.

Robert's wife and son and daughter-in-law are co-owners, and seven other family members are on the payroll of this start-up company. Before opening their own enterprise, family members had worked for power companies in Missouri, Arkansas and Oklahoma.

After visiting with their local banker, the Shaffers dropped in to the Small Business Development Center at Southeast Missouri State University and met with Gil Degenhardt, one of the SBDC counselors, to discuss business planning, financing and other start-up issues.

Gil referred them to Larry Cooper, senior business counselor, who discussed the bank loan process, bank policies relating to start-up risks, legal forms of business and personal and collateral risks. In addition, Larry assisted with business plan development and financial projections. "We surely appreciated that!" says Brenda Shaffer.

The loan was approved, and the Shaffers are now in business! Shaffer's Substation is procuring contracts as projected. First year receipts could top $1.5 million. The company created 14 jobs.

Robert Shaffer
Shaffer's Substation
P. O. Box 400, Ellsinore, Mo. 63937
(Phone) 573-322-8454
(Fax) 573-322-8201

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