Shipping Point in Gurnee, Illinois, is proving successful businesses are built from a foundation of smart, forward-thinking decision making.
In 2009, Jim LoMonaco opened Shipping Point in Gurnee, Illinois. Shipping Point is an independent, local, family-owned and operated retail mail and parcel center. Their core service offerings are shipping, packing, printing, and private mailbox rental. What truly sets them apart from franchise and corporate owned shipping stores is that they offer all shipping carriers in one location: UPS, FedEx, USPS, and DHL. A one-stop-shop for dozens of business products and services, Shipping Point’s motto is, “we allow you to do what you’re good at while we take care of the ‘other stuff’ you need to succeed”.
Business Ownership Runs in the Family
We asked Jim what inspired him to be an entrepreneur. “I always knew I wanted to be a business owner. Growing up, my grandfather owned a furniture store called Harmony Haven in my hometown of Waukegan, Illinois. He was very successful and loved by the community. My father worked there his whole life, and it was inspiring to watch the business grow. My uncle Steve was also a great role model having watched him create a very successful tire business.”
Utilizing SBA 504 Financing
When asked how utilizing SBA 504 financing impacted his business, Jim said, “The 504 loan allowed me to purchase the retail strip mall I was renting in. It has given me flexibility and control over my business now and in the future as industry trends may change. Prior to ownership, I was at the mercy of the landlord’s increases, fees, and rising rental costs. The 504 Loan Program has provided me a pathway to financial freedom now and in retirement. I would not have been able to purchase the building without the favorable rates and terms of the 504 Program.”
But it’s not just the business owner that benefits from SBA assistance. The impact on local communities is truly why the SBA 504 Loan Program is known as SBA’s flagship economic development tool. Jim said, “We provide critical and much needed mailing and shipping services to the general public as well as local government offices. We have also hired two new people since taking over this new location.”
“Prior to ownership, I was at the mercy of the landlord’s increases, fees, and rising rental costs. The 504 Loan Program has provided me a pathway to financial freedom now and in retirement. I would not have been able to purchase the building without the favorable rates and terms of the 504 Program.”
Highlights and Advice from a Business Owner
Jim told us that one of the most satisfying moments in business was securing this commercial property, which secured the future of his business. “Commercial property ownership has been a lifelong goal of mine. This gives me the pathway to financial security now, in retirement, and for my children.”
Other highlights? Shipping Point won the “Best of Gurnee” Award and has also been in the top 100 UPS service providers in the country.
When asked if he had any wisdom to impart to aspiring entrepreneurs, Jim said, “One day at a time. Entrepreneurship can be very overwhelming. All decisions and problems land on you. It gets easier with time. Most people think as an entrepreneur you don’t have a ‘boss’, when in reality every customer and employee become your boss.”
The purchase of this office space created jobs and fulfilled community revitalization and redevelopment goals.
To learn more about Shipping Point, visit their website at https://www.gurneeshipping.com/ or follow them on Facebook: https://www.facebook.com/ShipPrintGurnee/.
