"From big to small, Coastal Postal can pack and ship it all"
As a result of the overhauls Matthew made to his business, Coastal Postal's sales have increased by more than 25% year-over-year since his purchase. Matthew has also proven that his business is resilient having survived two hurricanes and the current pandemic. In fact, Matthew's third year of ownership, 2020, was very strong finishing the year with what Matthew coined as "an epic Christmas season". Matthew is excited to see what 2021 delivers for his business.
Matthew shares his excitement about the future for Coastal Postal, "We look forward to identifying new efficiencies so that we can continue to best support our customers. We also look forward to further strengthening the relationships with our 20 business partners who we rely on each day to serve our customers. We are always open to new ideas and keep an eye out for new industry technology. My hope is to open more locations in the not-so-distant future and using what we've built in our first store as the model of success for future stores."
What influenced you to seek help from SCORE?
When Matthew was seeking financing options to purchase Coastal Postal, The Small Business Administration (SBA) referred Matthew to SCORE in June 2018. John Lamoree, Grand Strand SCORE Mentor since 2008, was aligned with Matthew. With 44 years of banking experience, John has held various commercial lending and leadership positions. John also served as Chairman of the Board for the Greater Southern Duchess Chamber of Commerce in addition to serving in leadership roles for other non-profit organizations. Working closely with Matthew, John's experience provided an ideal partnership in reviewing the financials and negotiating the purchase of Coastal Postal.
What’s great about my mentor?
“My SCORE Mentor, John Lamoree,
was my calming force in rough seas.
John was invaluable to my success and
was an impartial source who has decades
of experience in the financial industry.
John gave me the confidence and
direction I needed to move forward.”
"I don't know what I would have done if I had not met John Lamoree with SCORE", Matthew says. "While considering the purchase of Coastal Postal, my family members had every reason to believe that things would not work out with my business. At one point, John even suggested I walk away from the deal we were considering from the seller. I trusted John knowing his best interest was me so I walked away. Six months later, the price of the business dropped in half and I purchased the business! John helped me keep my thoughts in the right place so that I could focus on the transaction and not worry about solving any business issues which may exist until after the closing."
What’s special about your business?
Matthew Maguire, Owner and Operator of Coastal Postal, and his family were residing in San Diego, CA when they considered relocating to the east coast for a change of scenery and a more relaxed lifestyle. After exploring the subtropical climates of several coastal cities, they ultimately decided that Myrtle Beach, SC was the perfect place for their family. As part of their relocation strategy, Matthew worked with a business broker to identify potential businesses to purchase. In August 2018 Matthew found the perfect opportunity and purchased Coastal Postal, an existing packaging and shipping solutions store.
Coastal Postal, located in the heart of Myrtle Beach, offers shipping and packing solutions in partnership with global logistics organizations including UPS, FedEx, DHL, and USPS. Coastal Postal also provides a wide range of other critical business services such as photocopying, scanning, faxing, computer rentals, notary services, mailbox rentals, and even textbook buybacks. Myrtle Beach is known for its tight-knit small business community and year-round tourism industry providing Coastal Postal with business from local residents, businesses, and out-of-town visitors.
Matthew shares more about how his business serves the community of Myrtle Beach, "We are a one-stop-shop for dozens of business products and services. We enable our customers to focus on their business while we take care of the 'other things' that are required for them to succeed. We can pack and ship almost anything to almost anywhere in the world. And shipping is only one way we help to make our customers' lives easier. We are also Myrtle Beach's premier copy, print and document services center. Large or small, black and white, or color, if it can be printed, Coastal Postal can handle it!"
Matthew was no stranger to the packing and shipping business when he purchased Coastal Postal. Early in his professional career, Matthew attended printing college and worked for a newspaper, several small print shops, and a book publisher. Matthew also spent 10 years serving customers at a busy FedEx Office in San Diego before switching careers to Litigation Support and eDiscovery all of which now help him now successfully operate Coastal Postal today.
After closing on his business purchase, Matthew implemented major changes across all Coastal Postal's operations. Matthew explains how he began creating efficiencies and executing on his vision of the exceptional customer experience, "We upgraded our technology platform, POS and implemented new processes. I hired the right people to ensure our #1 focus was customer experience and we now have two full-time employees and three part-time employees who are highly trained. We upgraded our workflow to 'pack on-demand' and created a more efficient customer pick-up system. I invested in a deluxe packing station and strategically located it behind our registers to speed up the packing process. Leaving no stone unturned, we also moved all the shipping boxes to the front of the store so that customers can see exactly what they need when they first arrive."
Considering the importance of local community relationships, Matthew removed the trinkets that the prior owner was selling and replaced them with artwork from local artists. Matthew continues, "It's fabulous when we can turn the shipping experience for a customer into a shopping experience. Our customers tell us that we do not feel like the post office. Our team of dedicated, professionally trained experts understands the importance of providing the best service possible. We focus on saving customers time and money by ensuring they purchase the right products and services at the right price in a single, quick visit."