Chocolates and Inspiration Equal Success
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/assets/images/partnering-locally/local-markets/LM_134_878x494.jpg|CocoaBella|Chocolates and Inspiration Equal Success
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TRANSCRIPT – CHOCOLATES AND INSPIRATION ARE BRINGING LIFE TO A LOCAL SAN FRANCISCO NEIGHBORHOOD
Michael Freeman, Owner Cocoa Bella Chocolates: At Cocoa Bella chocolates, we offer the greatest chocolates from around the world. From Belgium, from Switzerland, from Italy – all over Europe, even America. And we’ve imported all of those chocolates for our San Francisco customers to really have the best of the world of chocolate under one roof. At the time of opening the store there was a lot of stress in the Freeman household. My wife saw me taking the little nest egg that we had and opening a store. I just lost my job and we were putting everything on the line to see if we could make it as entrepreneurs. I was a retailer but there was so much I didn’t know about financing, about collecting credit cards, about doing the things that Rob Glenn, actually, at Bank of America has helped me understand. And without them I don’t know if we would’ve been as successful as we have been.
Rob Glenn, Senior Client Manager, Bank of America, San Francisco: There’s a mutual trust and a mutual respect. And the two together created a 7 year relationship. And it keeps on getting better.
Michael Freeman, Owner Cocoa Bella Chocolates: An opportunity came for us to open a second store. We really wanted to go after that, but of course I didn’t have the money at that point, because my money was in store one. And, that’s when I went back to Rob and said we’ve got this great opportunity for growth. And Rob partnered with us to make that happen.
Rob Glenn, Senior Client Manager, Bank of America, San Francisco: We had the experience of working with him from day one, so when location two came around we had all the more confidence to support location number 2 and eventually 3, 4, and so on…
Michael Freeman, Owner Cocoa Bella Chocolates: One of the chocolatiers that we carry that we’re very proud of is Christopher Elbow Chocolates. We were able to take our retail experience and help Christopher open a store here in San Francisco that we run for him.
Joe Sattler, Owner, Moishe’s Pippic Deli: I’ve been here for 23 years and it’s a nice addition to the neighborhood because a storefront when it’s closed or boarded up will bring no people. But if you have a diversity of shops, a shoe store, a deli, a chocolate store, it will bring people from the neighborhood. You need a customer base that keeps your doors open. And now we’re doing great.
Rob Glenn, Senior Client Manager, Bank of America, San Francisco: Small businesses everywhere, especially in San Francisco really drive the community. They drive jobs.
Michael Freeman, Owner Cocoa Bella Chocolates: Through our growth, we have been able to employ more people. We’ve from 3 up to 25 people here in San Francisco. Our plan for the future is to take CocoaBella chocolates further. We want to go across the country. And one of the things that makes me confident in our abilities to do that is that Bank of America is gonna be there with us every step of the way.
Chocolates and Inspiration Equal Success
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A Sweet Dream: The Best of Chocolates Under One Roof
America is the land of opportunity, where the entrepreneurial spirit thrives. Each year, an estimated 600,000 businesses are created. For some, it’s about taking a chance on a “big idea.” For others, like Michael Freeman, it’s about carrying out a vision. After losing his job, Freeman decided to fulfill his dream: providing the best of the world of chocolate under one roof in San Francisco. With the money he had saved up, he travelled throughout Europe in search of the best chocolates. Yet, when it came time to open up shop and distribute these delicacies, Michael didn’t know much about how to finance it.
“To guess and leave the business side up to chance would have been dangerous. I had a mortgage and an investment account with Bank of America and asked for a referral to help me with a business.” Michael said. “That’s when I met Rob.”
Michael met with Rob Glenn, a Client Manager at Bank of America, who walked through the steps to start his business. Six months—and one well-thought-out business plan later—Bank of America lent him the capital and provided the banking services he needed to get started.
CocoaBella Chocolates opened in November 2004 in San Francisco's Marina district, featuring the finest chocolates from Belgium, Switzerland, France, Italy, Spain, Canada and the United States. After this first location, Michael saw the potential for another in a new area of Westfield Mall: a prime sidewalk-level space. Rob knew how to make it happen again and helped finance CocoaBella’s second location.
“Now, after seven years, Michael knows all the services and we are able to really talk about his future and where he wants to take his business,” said Rob.
At the beginning, CocoaBella had three employees. Today, there are 25 employees in San Francisco, plus operations in Kansas City, Missouri. Plans for future growth include moving beyond San Francisco into the Bay area, and then perhaps to New York City. Michael hopes to have 10 locations in the near future.
“Small business drives our economy and, at Bank of America, we have established a division that is dedicated to their needs,” said Rob. “We have the resources of a large bank, but it’s managed and staffed by people from the local community, so it feels like a community bank.”
Knowing that Bank of America can meet his needs anywhere in the United States or internationally provides Michael peace of mind and allows him to focus on his business.
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