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From Dreams to Reality: Our Neighbor’s Entrepreneurial Journey

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At BakerRipley, our mission is to bring resources, education, and support to the communities we serve, empowering individuals to pursue their dreams and improve their lives. We are proud to share the inspiring journey of one of our Neighbors, Shronica Holmes, whose story exemplifies the power of perseverance, community support, and the impact of our Entrepreneur Connection program.

Shronica’s commitment to providing compassionate care for seniors and her innovative approach to entrepreneurship demonstrate the transformative potential of BakerRipley’s programs and resources.

In March 2019, Shronica Holmes reached out to the Entrepreneur Connection program to discuss an idea: creating an accessible senior care center. Having worked with seniors for years, Shronica  had observed her community’s need for affordable and quality care. Already an entrepreneur running her photography business, she was eager to embark on this new journey. 

Upon hearing Shronica’s idea, her BakerRipley Small Business coach immediately recognized her passion and drive. The two began by drafting a business plan to solidify her ideas on paper, an essential step for accessing capital. Additionally, the pair reviewed Shronica’s finances, highlighting the crucial role personal financial stability plays in starting a business. 

Once all necessary information was gathered, they worked on a loan readiness plan to complement the business strategy.  

Over the course of six months, Shronica diligently completed the business plan with the support of her coach, providing detailed descriptions of her concept and financial projections. Throughout her journey, she continued to educate herself within the industry and connected with a mentor and gained valuable experience. 

Thanks to the support Shronica received from BakerRipley’s Entrepreneur Connection program, she related to a local community development financial institute) (CDFI) and was successfully funded by PeopleFund in December 2019. Shronica celebrated the grand opening of The Rose Residential Care Home in her hometown of Tyler, Texas, in February 2020.  

Shronica says she started the business after seeing so many seniors living alone.  Rather than moving to assisted living or nursing homes, she says, many seniors she speaks with want to spend their later years in the comfort of their own homes. 

“I wanted to change their fears of leaving their homes by providing them with a new place to call home,” Shronica said. 

The Rose Residential Care Home—nicknamed “The Rose” —offers 24/7 care for seniors in a residential neighborhood, so seniors can still feel like they are part of a community and not confined to four walls of a care facility.  

The Rose was scheduled to start accepting new residents at the beginning of March 2020, but the start of the COVID pandemic put Shronica’s dream business on pause. During this time, Shronica still had to pay all her overhead expenses, along with her startup loan. Luckily, she was granted an Economic Injury Disaster Loan (EDIL) from the Small Business Association, which she used to cover expenses, payroll, and marketing research.  

“This entrepreneur journey didn’t start off like I wanted it to,” Shronica said, “but I don’t regret it one bit and I refuse to give up a dream.” 

In 2021, Shronica celebrated the opening of her second residential care home for seniors in Tyler. The demand for personalized, compassionate care had grown rapidly, prompting her to expand her services to better serve the community’s elderly population. This new center was a testament to her commitment to providing high-quality care and ensuring that seniors in Tyler had a safe, nurturing environment to call home. 

With the successful operation of two care homes, Shronica‘s entrepreneurial journey took an inspiring turn. She began to explore other areas where she could make a significant impact. Her attention turned to the young men aging out of foster care in Region 4. Understanding the unique challenges they faced, Shronica was driven to create a supportive network for these individuals. Leveraging one of the funding resources she was connected to through the BakerRipley Entrepreneur Program, she founded a nonprofit organization named “Better Me.” This initiative aims to provide young men with the resources, guidance, and support they need to transition into independent living successfully. 

Shronica’s journey is a powerful example of resilience, community support, and the profound impact one person can have on the lives of many. Her dedication to improving the lives of seniors and young men aging out of foster care has built a legacy of care, compassion, and empowerment, inspiring others to follow in her footsteps. 

To learn more about BakerRipley’s Entrepreneur Connection program and how you can get involved, click the link here.