In 2005, Tessa and Derrick Holloway were confronted with a not-so-uncommon problem: They needed to find an early childhood development center for their kids, after the owner of the Port Allen center their children had been attending told them she was planning to close.
After a lot of consideration—and as Business Report details in its new Entrepreneur feature—the couple came up with a not-so-common solution: Buy the company and go into business for themselves.
“I always knew I’d be in management, maybe finance, but I never thought I’d work with kids,” says Tessa, who was working for Blockbuster in internal auditing and loss prevention at the time, while Derrick was operating a copper plating business in New Roads.
Though they didn’t have any previous experience in the early childhood development business, they were parents.
“We knew what we liked about the center our kids went to, what we didn’t like and what we expected,” she says. “We talked it over, mortgaged our house and bought the center.”
Not long after the Port Allen center was open and operating successfully, the Holloways acquired one in Baton Rouge, and opened others in Mandeville and Lakes Charles.
Then, 2017 kicked off a new era of growth for the Holloways as they re-engineered their business model.