Running a Business | Knowledge Center

Club Pilates Celebrates 1st Anniversary on FOX 29

When Greg and Ayanna Wright opened the doors to Club Pilates in Pike Creek, Delaware in May 2021, it was a culmination of a long journey to become small business franchise owners.

A Pep Talk from Pep-Up: How Smart Safes Changed Their Business

Longtime WSFS Customer Pep-Up – a full-service petroleum distributor and convenience store operator – wasn’t necessarily looking for new efficiencies when they came across what would become a game changer for the business.

Why Your Small Business Should Take the Long View on Inflation

When you hear and read about inflation, the attention is typically placed on inflation’s impact on the cost for consumer goods, and for good reason. High inflation hits people where it hurts most—their wallets. But small business owners and operators must deal with inflation’s impacts as well, and as it continues to be a major cost factor, their already tight margins become increasingly crunched.

How To Keep Your Company and Yourself Safe from Fraud

Whether it’s a compromised email, ransomware, mail theft, or other criminal attempt, fraudulent schemes continue to trend upward and can cost businesses and consumers alike. Preventing fraud requires vigilance from every employee to protect your company’s finances and information. Here are some tips to help protect your business and yourself.

Bicycle Transit Systems (BTS): On the Road to Transportation Equity

The concept of bike sharing—services offering bikes for shared public use, either at no cost or for a small fee—began in the 1960s in Amsterdam, but the modern iteration didn’t really take off until the early 2000s, when bike sharing spread rapidly around Europe. The first bike share in the U.S. wasn’t launched until 2010. Alison Cohen, inspired by the city-wide system launched in Paris in 2007, led the launch of bike share systems in Washington, D.C., Boston, and New York City.

Small Business Tax Strategies for 2022 to Strengthen Your Business

With the 2021 tax year filing season wrapping up this month, many small business owners and operators are ready to put Uncle Sam in the rearview for a while and focus on running their business as efficiently and profitably as they can. While preparations for the 2022 tax year filing season may seem far off, there are steps that can be taken now and throughout the year that can be beneficial to a business’ revenue, growth investments and long-term tax strategies.

Maintaining Roots: How HACE is Creating a Culture that Promotes Homeownership in Hispanic Communities

Maria Gonzalez works every day to ensure people aren’t displaced. As President of Hispanic Association Contractor Enterprises (HACE), Gonzalez’s goal is to not only create affordable housing in North Philadelphia, but to create home ownership opportunities that address the needs for the Hispanic community. “We see home ownership as an opportunity for wealth building and stability, so families can grow roots in these neighborhoods,” said Gonzalez.

Thinking About Selling Your Business in 2022? A Few Ideas to Consider

It remains to be seen if 2022’s unique blend of positive and negative factors will slow down the piping hot mergers and acquisitions (M&A) market that emerged in 2021. On the positive side for potential sellers, strong economic and profit growth plus record amounts of capital remain potent forces. These factors are likely to drive continued high levels of M&A activity in 2022. Business valuations are at, or near, all-time highs. The market for businesses, like the housing market, is currently a strong sellers’ market.

If Your Small Business is Counting on a 2021 Tax Year Refund, Don’t Wait to File

In a recent statement, the IRS delivered ominous news, saying, “In many areas, we are unable to deliver the amount of service and enforcement that our taxpayers and tax system deserves and needs.” With tax season now open and that statement in mind, a few themes are emerging.

A Business Man with a Plan: Craig Williams on the Future of Diverse Businesses in Philadelphia

Craig Williams, President and CEO of Pride Enterprises Inc. and American Power Electrical Supply Company, has more than 30 years of experience in construction management, getting his start by working for his uncle when he was home from college. After earning his Bachelor’s degree in Business Management from Syracuse, Williams helped his father cultivate and develop his own construction business, eventually founding Pride in 1996 and American Power in 2018.

Designing for the Benefits of Co-Living: How Developer Dana Spain Mastered the Pivot

Dana Spain is known for many things, from her work in publishing to animal welfare and her charity work for Veterans’ causes. She has led a circuitous career that began in commercial real estate with her family’s retail chain that has led her back to commercial properties since 2013 with a myriad of her own projects. Most recently, Spain–now Managing Member of her latest endeavor, Spain Development Group–has been designing multi-family properties ranging from rehabs, stick-built, and eventually modular. “Once I got into modular construction systems, I stayed there because it was an epiphany and now I advocate all the benefits of modular and won’t build any other way,” Spain said.

Stop Fumbling Over Cash for the Big Game: Key Considerations to Keep Cash Safe

Every year, sports fans swarm to local restaurants and bars to eat, drink, and cheer on the teams playing in the Big Game. In towns across the country, most establishments prepare for an increase in business for this day. In some cities, bars and restaurants saw a 40% or more revenue increase, according to Womply Research, on this major Sunday in 2018. As indoor dining restrictions are easing nationwide, local restaurants and bars should prepare for what could be the busiest day since the start of the pandemic.

Time to Grow? Follow These Steps to Finance Your Small Business’ Future

For every successful small business, there comes a time when decisions need to be made about the best path for financing growth. Whether your business needs an infusion of cash, a new location, an equipment upgrade, or is ready for expansion, there are an array of options to help get you where you need to be financially. However, every business’ needs can be different, requiring its own strategy and approach.

Restoring The Flats: Making Affordable Housing Beautiful and New Again

Wilmington, Del. has been a hub for industrial innovation and activity for more than 350 years. When William Bancroft opened the Bancroft Mills along the Brandywine River in the early 1900s, Wilmington quickly became home to hundreds of workers. Bancroft, the founder of Woodlawn Trustees, was a major advocate for affordable housing and one of the first in the area to develop this type of community residences for his employees and their families – which later expanded even beyond Bancroft employees. He felt that he had an obligation to provide housing and thoughtful development to the area – bringing to life what Wilmington locals know today as The Flats.

QuotePro and Cash Connect: A Match Made in Kiosk Heaven

QuotePro provides innovative kiosks, digital sales technology, mobile applications, websites, and payment technology for insurance, BHPH (Buy Here Pay Here) and franchise auto dealers, utilities, healthcare, municipalities and more. At our core, we make cash affordable and help businesses better serve their cash-preferred and underbanked consumers. One of our signature products is the QuotePro Kiosk, which accepts all payment types and helps facilitate faster and safer transactions anywhere, from auto dealerships to healthcare institutions.

Reinvest in Your Small Business with Real Estate

One of the most important aspects in running a small business is to constantly embrace change. From consumer or client behaviors, wants and needs to vendor or supplier management, staying on top of changes that affect your business is critical.

Two Organizations, One Shared Vision: A Stronger Community

The Boys & Girls Clubs of Philadelphia has been serving youth since 1887, when the Germantown Club first opened its doors. Since then, the organization has expanded, providing quality programming to youth in neighborhoods across Philadelphia. Its mission: to enable all young people, especially those most in need, to reach their full potential as productive, caring, responsible citizens. Over the past 134 years, The Boys & Girls Clubs of Philadelphia has grown to 21 clubs throughout the region’s most impoverished communities and the dedicated staff, volunteers, and partners work together to impact more than 9,600 young people each year.

WSFS Bank Loves Small Businesses Holiday Program Honors Four Local Businesses That Go Above and Beyond for Their Communities

For thousands of small businesses throughout the Greater Philadelphia and Delaware region, the past two years have seen ups, downs and everything in between. Despite these challenges, many of these businesses, their leaders and their employees didn’t lose sight of their ability to positively impact their communities.

WSFS Loves Small Businesses: Dolly’s Boutique & Consignment Keeps Up on Fashion Trends for Clients While Giving Back to Their Community

In the 12 years since opening Dolly’s Boutique & Consignment in the Mt. Airy neighborhood of Philadelphia, Shani Newton has strived to accomplish two things that are important to her success. Provide affordable designer clothes and accessories for her clients and give back to her community in any way she can.

Reflect on the Challenges of This Year to Prepare Your Small Business for Success in 2022

As 2021 comes to a close and we reflect on all of its successes and challenges, it is also a great time to look ahead to 2022’s opportunities for the small business community and how your business can be successful in the new year and beyond.

WSFS Loves Small Businesses: The Crab Cake Company Continues Late Co-Owner’s Legacy By Supporting Families, Friends and Frontline Workers in Their Community

Every Saturday for 11 months during the pandemic, Tish Ambrosine made sure 25-30 staffers at Christiana Hospital were well fed with free cuisine from The Crab Cake Company, which she co-owned with her husband, John, in Middletown, Delaware. They didn’t take photos or post deliveries on social media, as Tish wanted to help these frontline workers out of the kindness of her heart, not for publicity. They kept providing meals until Tish was diagnosed with breast cancer and in February 2021, she unfortunately lost her fight.

WSFS Loves Small Businesses: Pride Paws Delivers on Their Mission to Provide Meaningful Employment and Life Skills for People with Developmental Disabilities

Founded in 2009 by the Ritzel family Pride Paws started as a nonprofit organization in a church basement making dog treats, with the goal of offering transitional employment experiences for people with developmental disabilities. The Ritzels wanted their son, who has Autism Spectrum Disorder, and others to have an opportunity to gain meaningful employment in their lives, participating in running the day-to-day operations of a business and teaching life skills with the help volunteer “job coaches.”

‘Tis the Season to Shop Local! How to Support Local Businesses

As consumers throughout the Greater Philadelphia and Delaware region gear up for the holiday shopping extravaganza, experts are warning us about supply chain issues, rising prices, shipping delays and more obstacles to find the perfect gifts for our friends and family. The solution? Do your holiday shopping on Main Street this year.

WSFS Loves Small Businesses: Shane & Pepper Candle Company Spreads Love and Acceptance Through Candles That Serve a Purpose

What started as a fundraiser for a service dog for their son has turned into so much more for Brett and Marie Popiny. They first began making soy candles in 2016 to help pay for their son, Shane’s, mobility service dog and were able to raise $17,000. Shane is a pediatric stroke survivor who has cerebral palsy and working with non-profit 4 Paws for Ability in Ohio, the family was able to bring Pepper into their family.

Why a Local Banking Partner Might be the Best Fit for Your National Business

We first started HLI Rail and Rigging and Mars Transformers in the tri-state area, moving turbines, generators, large portions of bridges, and even buildings by ocean, barge, rail, and large and small trucks. If something heavy needs to be moved, we are the team to do it. Since then, we have scaled our business and now operate across North America. An important part of this growth was finding the right business partners. Just as important as your accountant, machine equipment or computer systems, is the right banking partner.

WSFS Bank’s SBA Team Helps Small Businesses Get the Funding They Need, Earns Recognition for 2021 Loan Volume

The U.S. Small Business Administration (SBA) recently released their regional and national fiscal year 2021 rankings, and WSFS Bank continues to shine supporting small businesses! In Delaware, the team led all lenders with $12.6 million in loans and was second in the state in loan originations, while placing third in New Jersey for dollar amount and loans originated.

Top Tools to Improve Cash Flow: Tips for Cash Management

Having solid cash management practices is one of the most essential processes in any company. Without a set of smart strategies for monitoring, assessing and improving the company’s financials, it can quite simply find itself out of business.

Cash Flow Tips to Help Your Business Post-Pandemic

It’s no secret that the COVID-19 pandemic forced a surge in technology adoption across numerous industries. However, despite the availability of technology-driven forms of payment such as credit cards, P2P, and mobile wallets, a recent nationwide study by Cash Connect and One Poll revealed that out of 1,500 people surveyed, 40% prefer to use cash as their payment method. Furthermore, 51% of respondents agreed that using cash helps them budget their money, underlying the notion that cash remains a mainstay. Knowing these preferences amongst consumers, it’s imperative that businesses continue to make cash payments a priority.

José Fernandez Leverages His New Banking Relationship to Establish Atilio’s Construction as a Go-To Contractor in Delaware

Two decades ago, José Fernandez was working as a handyman for a local company in Delaware with his eyes toward the future after working with a local contractor. “I decided to pursue real estate and transitioned to working as a realtor,” said José. “But then the economy and housing market crashed.”

Celebrating Hispanic Heritage Month: STARS Adult Medical Day Care Center’s Leaders Open Their Doors and Hearts to Support Camden’s Hispanic Community

When Margarita Santiago and Ana Fernandez first envisioned opening an adult medical day care center in 2012, they had no idea how much a center of the Camden, NJ community their business would become.

Stand Up and Celebrate Women-Owned Small Businesses

October is National Women’s Small Business Month, and as a former business owner who now works directly with small businesses, I take great pride in knowing how strong, resilient and dedicated female business owners are to their families, their employees and their communities.

Father-Daughter Duo Teams Up with WSFS Bank to Open Club Pilates Franchise

As he approached retirement after 30 years with the U.S. Department of Alcohol, Tobacco and Firearms (ATF), Greg Wright was looking ahead to how he would transition careers with two daughters in college. “I have a close friend who is also a franchise broker who helps entrepreneurs connect with franchise brands and lenders,” says Greg. “He was always mentioning franchising to me as an option, but none of the options really stood out as something that interested me.”

Celebrating Hispanic Heritage Month: How Danny Perez’s Multi-Faceted Career Led Him to Open a Popular Eatery in the Heart of His Adopted Hometown

As a longtime business owner in Milford, Delaware, Danny Perez has seen and experienced the community’s growth and opportunity since moving his family and tax management business to the area in 1999.

Which Payments Businesses Accept Matters

The COVID-19 pandemic forced a surge in technology adoption across numerous industries, including payments and banking. Even with the adoption of mobile payments, when it comes to making payments, consumers want the option to use the method that works best for them—including cash.

Key Steps to Position Your Business to Get the Long-Term Credit and Loans it Needs

Whether you are an entrepreneur at the helm of a startup or a seasoned small business owner looking to expand, the importance of good business credit cannot be understated. From equipment finance to real estate loans and credit lines for operating expenses, at some point your business will most likely need to borrow money from a business lender.

Proactive Considerations for Mitigating Financial Cyberattacks

Whether it’s a compromised business email, ransomware, accounts payable fraud, mail theft, or an investment scam, we’ve all heard of, experienced or know someone who has fallen victim to one of these fraud trends. Even as technology companies and financial sectors work together to develop innovative ways to protect accounts and businesses, hackers are working simultaneously to develop their own “innovative” methods to gain access to money that isn’t theirs.

WSFS Bank Salutes Small Businesses to Kick Off SBA’s 2021 National Small Business Week

The past year and a half has been a challenge for many small businesses, as the COVID-19 pandemic impacted their operations, forced some businesses to close during mandated shutdowns, and has even impacted recruiting and hiring qualified staff. PPP loans were a critical bridge for many small business owners, but the flagship SBA 7(a) program has been a key tool to economic recovery and growth.

How a Small Business Commercial Real Estate Loan Can Help Owners Plant Roots and Reinvest in Their Business

For many small business owners, finding the right location is only half the battle. From lease agreements and rising costs of rent to finding a new location when necessary, sifting through the options can be overwhelming and time consuming – and it takes you away from driving sales and revenue.

How WSFS Bank Leveraged Technology Investments and a Strategic Partnership to Help Customers Obtain PPP Loan Forgiveness

When the COVID-19 pandemic emerged and forced parts of the country into a lockdown, small businesses were among those hit the hardest, as their daily operations were disrupted or shut down altogether.

Tips for Using a Credit Card for Your Small Business

When it comes to credit for a small business, loans are typically the first options that come to mind. Small business loans are great options for infusing capital into a small business or to finance a property purchase, equipment or other operating needs.

REC Philly’s Close-Knit Artist Community Taps Into Unique Talents, Grows Careers and Businesses Through Collaboration

At times during the COVID-19 pandemic, REC Philly members were only able collaborate remotely as they developed and refined their creative talents and business acumen. A physical space, digital application, and creator community designed and dedicated to providing its members with the resources, education and opportunities to build sustainable and scalable businesses around their talent, REC Philly leadership didn’t slow down when they we forced to shut their doors during the parts of 2021 early 2021.

How a New Banking Partner Can Change the Trajectory of Your Business

Having been a business owner for 40 years, I know that making the decision to change vendors, after years of partnership, can be daunting. Now, apply that to switching a banking relationship, and the decision becomes harder. A proven track record and solid customer relationships are a driving factor in the success of our Pennsauken-based business, our best attribute has been the ability to adapt and tackle projects with a dedicated approach and attention to detail.

Building Your Empire: Driving Growth and Funding Your Franchise’s Future

For franchisees, getting their business off the ground is one of the, if not the greatest challenge of their careers. From meeting the franchisor’s scale and experience requirements to securing financing, the journey to becoming a franchisee is often a long and winding road.

Top Things to Consider When You Need an Equipment Finance Partner

The right finance partner can make a huge difference in the structure, operations, and growth of your company. This relationship can be the difference between growing your business and remaining stagnant; winning new business and losing potential customers to a competitor; or even loyal employees leaving and high turnover rates. So why do so many equipment sellers settle for less than top-tier equipment finance partners?

New Study Shows Cash Remains a Mainstay for Both Consumers and Businesses, Even in the Age of Technology

Despite the availability of technology-driven forms of payment such as credit cards, debit cards, and mobile wallets, cash remains a mainstay for both consumers making payments (40% prefer to use cash) and businesses accepting them (78% accept cash as a form of payment), according to a new study published by Cash Connect, a division of WSFS Bank that provides cash logistics services.

Tips for Identifying the Right Financing Partner in the Veterinary Industry

A veterinarian’s job is to care for our beloved furry friends that, unfortunately, can’t communicate exactly what’s wrong or what they are feeling. Therefore, many veterinarians rely on equipment such as ultrasounds, digital radiography, endoscopes and analyzers to give them a more holistic view of the situation at hand, and to help make informed recommendations and decisions.

Cash Still Plays a Role in Everyday Payments

A recent study found that consumers still use cash for everyday payments as well as budgeting. The survey polled 1,500 Americans to analyze their payment preferences and found 51% said using cash helps them budget their money, with Gen Z being the most likely to agree.

Grow or Sell – What’s the Next Move for Your Business?

The past year’s unpredictability has business owners large and small deciding what their next step should be, including whether now is an optimal time to grow or sell their business.

Startup Grind with Candice Caruso: Tips for Startup Success

Candice Caruso joined Dr. Dan Young of TEDx – Wilmington on a recent episode of Startup Grind, an international collection of entrepreneurs and intrapreneurs who share best practices and learnings in their careers.

Is it a Match? Key Considerations When Evaluating Your Business Banking Relationship

Banking options aren’t one-size-fits-all, and neither is your business. Like your business, your banking partner plays a critical role to your success, requiring regular monitoring to ensure it fits your needs now and down the road. A lot can change in a fiscal year so evaluating your relationship annually is smart business.

Celebrating Pride Month: Vanessa Kreckel’s Eye for Design and Love of Having an Inclusive Culture Drives TPD Design House’s Success

When Vanessa Kreckel started Two Paperdolls (now known as TPD Design House) at the kitchen table of her home in 2001, she didn’t imagine her business would grow into a full-service design agency in Wayne, Pennsylvania with 35 full time employees.

Celebrating Small Businesses That Inspired and Thrived During the Pandemic

Endure. Persevere. Adapt. Pivot. These four words, and many more, describe thousands of small businesses in the Greater Philadelphia and Delaware region and what they did to survive when the COVID-19 pandemic’s impacts were felt.

Celebrating Small Businesses: Max Fitness Keeps Clients Connected to Their Workouts and Each Other by Creating Daily Sessions for Online Community

Eric Hailey had a feeling COVID-19 would impact his business, Max Fitness in Mt. Laurel, NJ, even before shutdown orders took effect. Two weeks prior, he began recording “One Weight Workout” videos for clients so they could stay in shape while his fitness center was shut down.

Celebrating Asian American and Pacific Islander Heritage Month: How Giving Back and Leaning on Relationships Helped Jung Ahn and His Team Navigate the Pandemic

When Jung Ahn and his business partners, David Taing and Kenny Poon, opened their The Halal Guys franchise in Chinatown Square in Philadelphia, Pa. more than six years ago, he never could have envisioned how a global pandemic would further deepen his strong roots in Philadelphia’s small business and Asian American and Pacific Islander (AAPI) communities.

Finding the Right Financing Partner for Your Business

Choosing the right equipment financing partner for your business may seem daunting because there are many options and not all financing is equal. Those in woodworking know that there has been an uptick in demand across various segments like furniture or kitchen cabinets. Finding the right equipment and then someone to finance it quickly is key to keeping up with demand or growing the business.

Celebrating Small Businesses: Annamarie’s Place Stays Open, Helps Fellow Local Restaurants Stay Afloat and Feed Families in Need During Pandemic

After being in business for 26 years, Annamarie Chestnut knew she had to prioritize two things when the pandemic hit: her team and her community. Her team wanted to work, so Annamarie’s Place quickly switched from a breakfast and lunch establishment to serving all meals as a takeout restaurant. Having never served dinner before, Annamarie’s purchased food and supplies from other restaurants who could not stay open, helping them recover some of their money.

Celebrating Small Businesses: Little Goat Coffee Roasting Owners and Employees Team up to Transform Their Shop, Support the Local Business Community

The COVID-19 pandemic proved to be a turning point for Little Goat Coffee Roasting’s owners, Joe Lins and Olivia Brinton. After having started Little Goat in 2017 at a local framer’s market with two dollars in savings, bucking the odds was something they were accustomed to.

Celebrating Small Businesses: How the Owners of Lavish, A Jenée Chanel Salon, Reinvented Their Business to Grow from a Local Salon to a National Retailer

When Jenée Brockington and Turquoise McKenzie opened Lavish, A Jenée Chanel Salon, five years ago, the childhood friends couldn’t have imagined that the hair growth serum they developed for their loyal Philadelphia customers would spark their small business’ resurgence during a pandemic.

How to Fuel Your Small Business’ Post-Pandemic Rebound

The past year has seen dramatic change for many small businesses, from operations and personnel needs to customer preferences around purchasing and delivery of products and services.