Good day. My name is Nick Stroesser, and I am the founder of Corporal4Life Apparel, a veteran-owned and veteran-operated apparel company out of Windsor, Ontario. Today, I will be speaking about the barriers I have faced as a veteran entrepreneur. Those barriers are hiring, mentorship and capital.
I started this clothing brand as a way to show my pride in serving Canada. Since 2015, it has become a brand sold across Canada and the United States. We've even shipped orders to Europe and Mexico. We've had three bricks-and-mortar retail stores. Our brand is currently available in two national museums, two regimental kit shops and one independent store in British Columbia.
We collaborate on a line of craft spirits with a veteran-owned distillery. We sponsor fighters, race-car drivers and a youth hockey team. With a portion of our sales, we've been able to donate tens of thousands of dollars to various veteran, first responder and local charities. Just saying all of this brings me great pride. I still have big goals for this company, which will be accomplished, but how much longer will it take?
I started this company with no retail experience, no T-shirt design experience, no advertising or content creation experience and, most importantly, no money. I have self-funded this venture since day one, sometimes putting myself in financial peril just to keep the dream alive.
I'm fortunate enough to say that I've made it through some very tough times. I've hired and fired entire staff more than once. I've used my personal paycheque from my own job to pay wages. I've used personal savings and credit to ensure my stores' rents would be paid on time. It's never been a question of “if” this brand will be a huge success; it's always been “when” and “how”.
My being a veteran of the Canadian Armed Forces has been a huge factor in the survival of this company. We've pivoted multiple times. We've even had to take a few steps back to see the full picture, but the brand has always moved forward.
I cannot say that this has been a self-built brand, because I've had a lot of help along the way from family and friends who have stepped up as sales staff and from other successful entrepreneurs I've met who have guided me when I had no clue what I was doing. I've even been given a rent-free space to turn into a retail shop.
I've been part of mastermind groups where I've paid fees to learn from and interact with business owners from across North America. I have also helped up-and-coming veteran entrepreneurs who have reached out in seeking my advice, which is absolutely crazy to me, but it means that I'm doing something right.
While I can say that the biggest barriers I have faced as a veteran entrepreneur are due to my own actions or my failure to act, I will say that it would have been nice to learn in a shorter time period what I have learned so far. I'm going to talk about what I believe would have helped me and could help current and potential veteran entrepreneurs. Some of what I will discuss has been talked about at earlier meetings by my colleagues, Dave Morrow and Grig Potapenko.
The first thing I would like to let veterans know is that entrepreneurship is a possible choice after service, and if not to start their own business, then to purchase an existing business where the owner is retiring or looking to sell. I've been asked more than once if I was interested in purchasing a veteran-owned business. I've declined, but there may have been a veteran out there who could have purchased an established brand.
On hiring, as mentioned earlier, at one point Corporal4Life had two stores operating in two cities two hours apart. Because I had no idea where to look for serving members, military reservists or veterans looking for work, I used social media. I was able to recruit six employees for my London store and four for my Windsor store.
For my last store, in Oromocto, finding staff was very hard. After a three-month social media recruiting campaign, I ended up hiring the first people—and only four—who showed interest at the last minute. I'm currently facing a similar problem in trying to recruit staff for the Canadian National Exhibition in Toronto this summer. I still don't know if there is a database for veterans in search of employment. I've been reaching out to reserve regiments and social media pages to get the word out.
A veteran-owned business job bank where veterans and reservists could find each other for employment would be an amazing tool for companies like mine. One of our goals at Corporal4Life is to have teams across the country that can act as ambassadors and sales staff for events where I cannot be, effectively giving us a national footprint, aside from our online shop.
The biggest issue since the beginning has been funding. I don't think Veterans Affairs should be funding veteran businesses, as it has more important things to do, but I do believe that if Veterans Affairs or the government partnered with national banks to offer veteran entrepreneurs low-interest funding or even grants, veteran businesses would grow faster and larger, and it could help smaller companies survive at least long enough to give it a go.
Aside from using my own money and borrowing at extremely high predatory interest rates, I have never had an investor or a business line of credit. As of now, 11 years into the business, we are finally debt-free and cash-flow positive.
At this point in the business, I feel like I've done pretty well, but in looking back, I wonder if, with some help, I could have had the same successes even earlier on. For any veteran entering the business world, I believe the path could be much shorter and less painful if they had the things that I did not have while building this brand.
I believe if I had had the mentor, the funding and the ability to find staff, the company would be much bigger, we might still have stores and we would be able to help many more veterans than we currently do. Again, though, I have learned a lot and become not only a better entrepreneur, but a better human being by building this brand.
In closing, if veteran entrepreneurs have access to mentorship, funding and staffing, we can create an ecosystem of entrepreneurs who could create jobs and economic growth here at home and give purpose to those leaving the forces.
Thank you for your time.