Wednesday, February 28, 2018

Small Business Success Story - FABSCRAP

Each year the New York Small Business Development Center recognizes outstanding small businesses in a variety of ways.  This Success Story from the  Manhattan SBDC appears in our 2016 Annual Report.

Jessica Schreiber 
Manhattan SBDC

FABSCRAP, a 501(c)3, was founded by Jessica Schreiber, a self-described “trash nerd” who previously managed the NYC Department of Sanitation’s e-waste and clothing recycling contracts, and earned a Master’s degree in Climate and Society from Columbia University. Jessica recognized that fabric and other textiles made up a significant percentage of the waste stream. She developed a business model through which FABSCRAP charges a modest service charge to cover operational costs associated with picking up the textile waste and redistributing it for reuse. Jessica sought advice from the SBDC about how to grow as well and how to monetize the environmental, financial and public relations benefits her small business offers, as well as what business and non-profit structures were available to her. SBDC Advisor Rawle Brown helped Jessica to map out her business growth as well as build out her financial projections. 
The Research Network provided targeted market research on textile recycling and NYC’s apparel manufacturing industry. Rawle enrolled Jessica in the 2016 Capital One-SBDC Pitch workshop series, and she won first place along with a $2,500 cash award in the pitch competition. She also won the $1,500 top prize in the Talk Trash City business plan competition. The SBDC guidance and the awards have enabled Jessica to expand service to over 20 clients and though she is still the only employee, her team of volunteers is growing steadily. FABSCRAP leases warehouse space in Jamaica, Queens and plans to work with more cutting rooms. Eventually she wants to expand to Los Angeles. Jessica is exploring additional sources of capital to facilitate her expansion, including donations through the FABSCRAP fundraising page. 

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