Students at UNH's Whittemore
School Vie for Prestigious Holloway Business Plan Prize May 7
Contact: Lori Wright
UNH Media Relations
April 20, 2004
Editors and News Directors: You are welcome to attend the
presentations as well as the reception and awards presentation.
A schedule of the day's events is below.
DURHAM, N.H. -- Joe Faro had a great business idea: Sell gourmet
pasta and sauces to restaurants, wholesale clubs and supermarkets
across the country. Fortunately, Faro had a comprehensive business
plan to back up his vision, which is what sold First Essex Bank
on the concept and convinced them to lend the then 21-year-old student
fresh out of the University of New Hampshire more than $1 million
to start his business.
Faro developed the business plan in his undergraduate entrepreneurship
class at UNH for the 1991 Paul J. Holloway Business Plan Competition
hosted by UNH's Whittemore School of Business and Economics. Thirteen
years later, Faro's company -- Joseph's Gourmet Pasta and Sauces
- is a $40 million-a-year business employing nearly 200 people in
On Friday, May 7, 2004, outstanding business students at the Whittemore
School of Business and Economics will vie for the Paul J. Holloway
Business Plan prize at Holloway Commons on the Durham campus. The
event is free and open to the public.
Many will be hoping to become the next Joe Faro.
“No matter what you do in life, developing a business plan
is really a tremendous exercise. All businesses, large or small,
are based on the model of some form of business plan. You can do
things in this country that you can't do anywhere else. If a business
plan and this competition is the spark these college students need
to build their own businesses, they should go for it,” Faro
In those early years when Faro was turning out 300 to 500 pounds
of pasta a week - by hand - on the second floor of a former church,
he says he never foresaw that his business would grow to where it
is now. It serves more than 15,000 restaurants and supermarkets
from coast to coast, businesses such as the Olive Garden, Bertucci's,
Legal Seafoods, California Pizza Kitchen, BJs, Costco, Hannaford
Brothers and Shaw's. Now, Joseph's produces 300,000 to 500,000 pounds
of pasta a week. And it all started from his business plan developed
“I went through the Holloway competition and used my business
plan in the real world. Now my livelihood is based on that plan.
That's a fact. It proves that anything is possible,” he says.
The annual competition awards prizes to both undergraduate and
graduate students, either as teams or individuals, who develop the
most realistic plans for starting, acquiring or expanding a business
venture in each of two tracks: high growth ventures and lifestyle
ventures. This year's cash awards are $4,000 each for the winning
undergraduate and graduate business plan. Undergraduate and graduate
runners-up in both categories are given cash awards of $900 each.
“Students competing for the prize have the opportunity to
test their ingenuity and business acumen in the real-world situation
of developing and presenting a business plan,” says Steve
Bolander, dean of the Whittemore School. "The Holloway Competition
is one of the longest- running business plan competitions in the
country. We welcome members of the community to join us in honoring
the many successes of the program and all those who have contributed
to this achievement."
The competition, established by Holloway's family, honors the
Exeter business leader's entrepreneurial spirit by stimulating and
recognizing outstanding business plans. Holloway began his career
in the automotive industry and starting in 1967, shaped a multi-franchise
dealership emphasizing customer service and satisfaction. Holloway
then extended his business skills to the development and management
of eldercare facilities.
His strong commitment to public service has led to contributions
as a member of the Board of Trustees of the University System of
New Hampshire, the board of Berwick Academy, fund-raising programs
for Temple University in Pennsylvania and the Governor Dummer Academy
in Massachusetts in addition to involvement with other nonprofit
organizations and charitable programs.
The Holloway Business Plan Competition begins at 1 p.m. in the
Piscataqua and Squamscott rooms at Holloway Commons. A reception
and award presentation follows at 4:30 p.m. in the Holloway Commons
galley. For more information, contact the dean's office at 862-1983.
Holloway Business Plan Competition Schedule of Events
|Lifestyle Competition: Piscataqua Room
|1:00 - Good News Kids'
||Lindsay E. Haslam
|1:30 - White Mountain Adventure Spa
||Eeva L. Pregitzer
|2:00 - Goddess Bodies, LLC
||Christa T. Tsoukalas
|3:00 - Granite State Ambulance Service, LLC
||John Leary, Glenn A. Margosian
|3:30 - Strategic Print Management Services
|4:00 - bfs-ne
||Matthew Wallace, Derek Else, Adam Potter
|Judges: Harry Boghigian, '71, president, Parma
Consultants; Pamela Diamantis, US Trust, N.A.; and Gary Levy,
founder and president, State Street Discount House.
|High Growth Ventures Competiton: Squamscott
|1:00 - BookZilla Inc.
||William Hurd, Christina M. Downs
|1:30 - Azurik, Inc.
||John L. Pham , Tanner R. Herget
|2:00 - Healthy Treat LLC
||Anthony M. Monroe, Curtis D. Barnes,
||Michael P. Murphy
|3:00 - US Detectors
|3:30 - Saddleback Homestead, Inc.
||Todd E. Gallant
|4:00 - Biodiesel Manufacturing
||Tom Sheehan, James Kohn
|Judges: Beth Baldwin, '84, marketing research
consultant; Andy Lietz, managing director, Rye Capital Management;
and C. Ray Boelig, '76, president and CEO, EarthLink.