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Family-Run Business In Aurora Not Paying The Bills

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May 12, 2009 10:00 pm US/Mountain

Family-Run Business In Aurora Not Paying The Bills

 Form: Apply For A Money Makeover From CBS4

Written by Suzanne McCarroll
AURORA, Colo. (CBS4) ― In a busy strip mall at Illiff and Buckley in Aurora is a not-so-busy children's clothing store. Repeats: Children's Resale is a consignment store where customers bring in gently used clothes in exchange for money when the items sell.

It's a family-run business but the business is nearly running the Jimenez family into the ground.

"Sales on the weekend are nearly half of what they were. When the first of the month comes, it's hold your breath and hope we have enough money," said DeAna Jimenez, who runs the family business.

To her, the store, where her 3-year-old daughter comes to work with her, is more than a job.

"I love it, I do, if I didn't love it I wouldn't do it. I want to make it succeed, that's why I'm here," she explained tearfully.

To complicate the family's finances, DeAna's husband Roland recently lost his job as a bartender.

The couple and their three children have moved into the basement of DeAna's mother's home to save money.

"How hard was it to move in with your mother-in-law?" CBS4 reporter Suzanne McCarroll asked Roland.

"Real hard," Roland replied.

DeAna agreed.

"If you didn't have your mom where would you be?" McCarroll asked.

"Probably in a homeless shelter," she said.

Catherine Schwartz of Waddell & Reed Certified Financial Planners offers the couple hope for their financial future. She has the following suggestions:

-- Roland needs to apply for unemployment benefits while he looks for a job.

-- DeAna should consult the Small Business Administration to get help in marketing her business.

-- DeAna needs to restructure the consignment store so she can take a salary for herself.

-- When the Jimenez family gets this year's tax refund, some of it needs to go into savings for an emergency fund.

DeAna is willing to continue working hard at the store. She now says she sees the light at the end of the tunnel. There is hope she says, that she can turn her passion into a paycheck.

Additional Resources

-- Visit the Web site of Catherine Schwartz, CFP® on the Waddell & Reed Financial Advisors Web site. Her office is in Denver at 4582 S. Ulster St. and her phone number is (303) 770-5511.

Contact Us

CBS4 is looking for Colorado families who would be willing to be subjects of our Beating The Recession: Money Makeover series. Families who are interested getting financial advice -- free of charge -- from a financial advisor should please fill out our form to be considered.

(© MMIX CBS Television Stations, Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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