UCEDC - News Item
Breadsmith Rising in Cranford
As a young woman, Kathy Vastola had spent hours in professional kitchens as both a sous and pastry chef; she had even been accepted to attend the prestigious Culinary Institute of America. But married life and a growing career with Proctor & Gamble caused her to put her culinary aspirations on hold until 2006.
While living in Ohio, Ms. Vastola became acquainted with Breadsmith, a national franchise specializing in hand-made, hearth-baked artisan breads using fresh, natural ingredients. When transferred back to New Jersey in 2006, Ms. Vastola became determined to open her own Breadsmith franchise in her town of Cranford. "I thought owning a reputable franchise would be a great second career option after retiring from P&G," states Vastola.
In 2006, Ms. Vastola took her first steps towards starting her Breadsmith franchise. She found an available storefront on North Avenue in Cranford, and secured financing through her bank and a microloan from UCEDC. Breadsmith opened to the public in the fall of 2007.
According to Ms. Vastola, "The microloan from UCEDC really allowed me to concentrate on diversifying my revenue streams-I was able to hire staff for the store while I concentrated on securing corporate accounts."
That diversification has paid off. Ms. Vastola has secured several corporate accounts, including the Short Hills Hilton, and has been able to retire from Proctor & Gambler earlier than expected.
"Kathy Vastola and Breadsmith are a prime example of how a UCEDC microloan can propel a business towards sustainable growth," states Ellen McHenry, Director of Financial Programs for UCEDC. "The microloan can be used for a variety of purposes, such as operating expenses, that free up the business owner to develop and act on strategies for growth and expansion."
Posted: 04/01/2008
Breadsmith
Ellen McHenry, Director of Financial Programs at UCEDC, with Kathy Vastola, owner of Breadsmith of Cranford, at the loan closing.
