Tang Soo Do Karate Center
“Tang Soo Do is about building a community within a community” is how Karen Kehoe, co-owner of the Tang Soo Do Karate Center, describes the Korean Martial Art.
Located in a strip mall in Wilson, North Carolina, the Karate Center is the pride and joy of Bill and Karen Kehoe. The Center opened on November 1, 2007 with the help of a loan from Self-Help. Bill and Karen, life-long karate enthusiasts, had always dreamed of opening a karate school where children could learn martial arts, self-discipline, and how to support each other.
When Karen approached Trudy Lynn at the small business center at Edgecombe Community College for help on a business plan, Karen was referred to Teresa Scarlett at the Self-Help Greenville branch.
“Teresa went to bat for us,” explains Karen. Teresa worked closely with the couple to arrange an appropriate and affordable small business loan for $15,000. Teresa was also able to secure a Small Business Association Guaranty, a federal program that helps Self-Help extend loans to small businesses while managing its own risk. This SBA guaranty was important because the couple had challenges with collateral and a spotty credit history. However, their business experience and Karen’s intention to keep her day job strengthened their loan application.
Self Help’s support was vital as Bill and Karen fought the Parkwood Mall, owner of their facility, regarding lease and licensing terms. The mall wanted Bill and Karen to share business plans and initially refused to offer the Karate School a fixed-term lease. Self Help’s lawyers successfully got Bill and Karen a 2-year lease with a 2-year option and fought off the mall’s attempts to intervene in the specifics of their business.
Bill and Karen renovated the facility with their own two hands. In fact, the facility used to be a U.S. Bankruptcy Court – the karate training floor is the old courtroom. “It has much better karma now,” says Karen.
Students range in age from 4 to 55 and come from diverse backgrounds. There are 65 students enrolled, an impressive number for such a new school. Bill takes student retention seriously; he runs an open door policy and encourages students and parents to “just come talk to me.” He and his wife know that keeping students and parents happy is vital to the financial health of their business.
During the school year, an old yellow school bus picks up students after school and brings them back to the center. Bill and Karen strongly believe in building a holistic work ethic, so they require that students do their homework before taking karate class. According to Bill, “when they leave, their homework is done and they can go home to be a family.” This is what Bill and Karen want for their children and all the children of Wilson.
Bill and Karen agree that one of the biggest surprises that they have encountered is the sheer amount of work it takes to run a business. They both work long hours and have been challenged by the financial accounting aspect. However, Bill staves off exhaustion with the extra energy he receives from working with the children and knowing that he is pursuing his dream; “I leave my other job tired, but then I come here and I’m not tired anymore.” And Karen boasts that the key to accounting success has been finding a good CPA.
Running the center has been a challenge, but also enormously rewarding. According to Karen, “sometimes you don’t think you can do it – but yes you can.” And this is just the beginning for Bill and Karen. They plan to renovate the rest of the center and they want to inspire their students to expand the Tang Soo Do network.
