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Marathon Man
When area banks wouldn't give beans for Lloyd Parchment's caffeine dreams, the Jamaican native got his entrepreneurial energies percolating
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Business New Haven
1/21/2002
By:
Anne-Marie Brungard
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Lloyd Parchment was born to run this race. It's a marathon that tries the most rugged entrepreneurs, cripples those lacking staying power and revitalizes those with the vision, right mix of products and endurance.
The Warm-Up
Born in St. Elizabeth, on the island of Jamaica, Lloyd Parchment was exposed to the coffee growing and brewing process by his grandfather, John Findley, the son of Irish immigrants who came to Jamaica in the late 19th century to escape the famine and hardships plaguing the Emerald Isle at the time.
Parchment's family owned a small coffee plantation, and even as a child he embraced the family art of drying, milling and roasting what is considered some of the finest coffee in the world.
Parchment came to the U.S. in 1973 to be with his family and to get an education in business management. Running his own business was always the ultimate goal, and Parchment used every opportunity to get himself to the finish line.
His first venture was a neighborhood grocery store on the corners of Orchard and Elm streets in New Haven. There he sharpened his retail skills while developing systems for the purchasing and inventory process. After several years he sold the business and went to work for a kosher supermarket. This experience gave Parchment the opportunity to view the world of the supermarket from a cross-cultural perspective.
Later Parchment purchased a John Deere franchise that sold wood logging and other heavy equipment. His first customer was the Housing Authority of New Haven, and he learned to sell from a whole new perspective, refining the art, and experiencing the pitfalls, of doing business with government bureaucracies.
A brief sojourn to Africa convinced Parchment that he was destined to have his own business and he came back to New Haven with renewed focus and drive. And in 1981, with just $3,000, based in his efficiency apartment on Humphrey Street, he started the Jamaican Gourmet Coffee Co.
Although it sounds a lot like the American dream, Parchment adds: “It was a dream born of hard work. With a handful of salesmen I set out to turn skeptical customers into true believers.”
Planning the Race
In 1991, the Jamaican Gourmet Coffee Co. relocated to a warehouse facility on Universal Drive in North Haven. Today more than 20 years of knowledge and experience is reflected in every bean that the company sells today.
“We will start with only the highest quality green beans from around the world, roast them to perfection in our local facility and deliver them within days to ensure freshness,” says Parchment. It doesn't hurt that his company also serves pure Blue Mountain coffee every day, too.
Word of the company's distinctive coffee and commitment to quality spread quickly and the customer base grew from small gourmet coffee shops and a limited mail-order service to larger grocery chains, restaurants, corporations, government, educational and health-care institutions. Within four years Parchment was able to move the company into its current location at 585 Washington Avenue.
The expanded facility now houses the roasting and processing plant, a 11,800-square-foot warehouse facility, corporate offices, employs 23 workers and houses a retail store with a full line of coffee-related products, from coffee machinery and gift items to freshly prepared pastries and sandwiches.
Strength Training
But Lloyd Parchment's prospects didn't always look quite so rosy.
It wasn't that long ago that Lloyd Parchment presented himself to several area banks seeking financing for his business. No matter what he tried or how sound his business plan or projections appeared, he got nowhere with area bankers.
Surrounded by rejection letters that outlined Parchment's high risk factors or lack of equity, Parchment quickly learned that in the real world of business and finance, intangibles can count for as much as numbers on a piece of paper. “It was based on skin color,” is the conclusion Parchment drew from the disheartening experience of rejection.
Nt that that makes him unique. “Facing setbacks and obstacles is a part of everyday life, especially for minority companies,” says Gerald Clark of the Greater New Haven Business & Professional Association, “Parchment's company has endured and proven again that you have to keep getting up again and again.”
Although the issue of race and its impact on business success is as fertile a subject for discussion and exploration today as ever, Parchment didn't have time for talk. Surmounting obstacles is inevitably part of the race. Finding workable solutions is where Parchment chose to spend his time and energy.
Eventually Parchment approached family members and good friends with his plans and need for financing. No rejection letters there. Some family members even pitched in by helping when the company was understaffed.
“When things aren't always going your way you are forced to be even more creative” than usual, says Parchment. Endurance is a key factor when achieving physical or business fitness is your goal.
“I have built my company without bank financing, developing relationships and key partnerships,” he says. “I never learned to take no for an answer.”
Generating new business, especially potentially lucrative corporate contracts, is always a challenge for smaller firms, and Jamaican Gourmet Coffee is no exception, Parchment acknowledges. “Our profits depend heavily on the wholesale end of the business,” he explains. Being persistent by itself isn't enough, and having a great product obviously isn't the be-all and end-all, either.
Jamaican Gourmet Coffee had to find new ways to make its products attractive to potential customers, adding imaginative incentive programs to its sales agenda. Finding ways to capitalize on what the competition was not doing and creating opportunities for customers to become more competitive (and, ultimately, make more money) is how the Parchment's company is making its mark.
With a large customer such as Shop-Rite or Stop & Shop, the ability to offer better quality coffee, combined with premium service and in-store taste testing, was enough to differentiate Jamaican Gourmet Coffee from the competition. Not many small companies can equal such a claim.
Peak Performance
Improving performance involves a concept known as “whole body fitness.” For the marathon runner that might mean supplemental training or cross training. For the business owner it means diversification and making sure that there is consistency and cohesion across all facets of the business.
Parchment's retail and wholesale operations are complemented by an expanded mail-order program that now offers an assortment of coffee inspired gourmet gift baskets that can be shipped throughout the continental U.S.
“Growing the business is not only my responsibility,” says Parchment. “I try to make sure that my staff is involved. I share information and try to get their opinions. This is important to me.”
Strategic partnerships have likewise helped his business to flourish. “We have developed relationships with Yale University's Law School and the School of Medicine,” explains Parchment. “As a local company we have high interest in doing more business with Yale University and other institutions in New Haven County.” Selling to Foxwoods Resort & Casino is no small achievement, either.
Jamaican Gourmet Coffee is a member of both the Quinnipiac and Greater New Haven chambers of commerce and is an active participant in the North Haven business community. According to Ralph Durante, chairman of the town's Economic Development Commission, the commission strives to make North Haven a better place to do business by facilitating access to state and federal initiatives such as set-aside programs. “Jamaican Gourmet Coffee gives back to the community; they are great people to have in town,” Durante says.
Integrating the business into the life of the community also means contributing to causes such as the annual New Haven Road Race, Mothers Against Drunk Driving (MADD), the North Haven public schools, the Dixwell Community (Q) House and an HIV prevention program sponsored by the Connecticut Mental Health Center.
“Being able to achieve something and share it with people - to me that is the greatest measure of success,” says Parchment. “The town and community of North Haven have embraced and supported us. More than 80 percent of the police and fire departments are regular customers. You can't beat that.”
Not satisfied with running in place, Parchment recently opened the Half Moon Coffee & Grille Café on North Main Street in Wallingford, co-owned by longtime friends Mario Landino and Stefano Panno. The partners have blended the festive spices of Parchment's Caribbean roots with the traditions of Sicilian cuisine.
Once again Parchment is finding a way to bridge the gap between cultures and meet the needs of a diverse community. Patrons can indulge in a wide selection of signature meals including spicy jerk fish topped with arugula or grilled eggplant gourmet pizza. The Hartford Courant noted that the eatery “deliciously fills the bill.”
Going the Distance
Parchment is coy about discussing the future of his business. He hints broadly about new ventures in the works, but declines to proffer statistics.
Nevertheless, 2002 promises to be eventful for the entrepreneur. There is definitely more growth and expansion on the horizon, including the possible addition of one or two more retail stores and the development of a catalogue for the mail-order component. If the last ten years can be any indicator of future potential, Jamaican Gourmet Coffee Company is percolating.
Maintaining peak health and optimizing performance are not just business values, but personal values as well for Lloyd Parchment. He runs at least 25 miles every week and has competed in two marathons.
The successful marathon runner has the ability to accept criticism, is unafraid of failure, maintains composure under stress and is able to coax peak performance during the rigors of competition. The same can be said of successful entrepreneurs.
Especially Lloyd Parchment.
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