Custard Stand Chili Among NCIF’s Success Stories

By CATHY BONNSTETTER
For The State Journal
July 11, 2008
(Reprinted with permission)

For Dee and Angie Cowger in Webster Springs and for Roland and Mary Griffith in Craigsville, the Natural Capital Investment Fund, NCIF, was just the ticket to getting the capital and know-how to live their dreams, help their rural economies and the environment.

The Cowgers, husband and wife, own The Custard Stand, and they wanted to make their hot dog chili a refrigerator staple for hot dog lovers across the country.

Their chili processing plant, Custard Stand Food Products, located beside The Custard Stand — their ice cream and sandwich take out restaurant — now ships hot dog chili to 200 locations in six states.

“The NCIF got us a grant to help us market our products and make us able to compete with other companies,” Angie Cowger said. “They helped us redesign our website so people can order on line.”

The first year Custard Stand Products did about $56,000 in sales. The sales jumped to $300,000 the second year and $600,000 after that. Angie says that last year they did $950,000 in sales.

“Working with the NCIF encouraged us to do a better job with the financial aspects of the business and they provided us with wonderful training,” Angie Cowger said. “Marten (Jenkins, NCIF executive director) has stopped by several times, and we are always glad to see him. Now we are working on a proposal with them to get a group in here and help us streamline our processing to make us more efficient.”

When Roland had put more than 20 years in as a coal miner and decided to turn his woodworking hobby into a livelihood, he turned to the NCIF for the funding and the instruction to make his brainchild, Gauley Mountain Moulding, a millworks with a national clientele.

“I did some research and found that not many people did moulding,” Griffith said. “We started the business from scratch. I think we knew about half what we should have known. We were always struggling. We had tried for financing, but we weren’t much good at it.”

The West Virginia Small Business Development Center in Summersville helped Griffith with his business plan and then 4-C Economic Development Authority in Beckley and the West Virginia Jobs Investment Trust in Charleston, along with the NCIF loaned Griffith the working capital he needed.

“They provided us equipment and capital and we were on our way a little bit,” Griffith said. “In 2004 we had to expand our building. The NCIF financed that, and they helped us develop our Web site.”

Roland co-owns Gauley Mountain Molding with his wife, Mary. They use West Virginia wood for raw materials and their product line now includes custom stairs and doors. Their customers include The Greenbrier and the upscale housing project, The Greenbrier Sporting Club.

“Most small business owners have to wear all the hats,” Jenkins said. “Very few people have the capacity to do all that, so the technical assistance we can provide is very valuable.”