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Fratelli’s Pastry Shop
With a combined 38 years in the bakery business, brothers Giovanni
Milone and Pino Santarpia dreamed of owning their own business.
While they had the know-how and dedication to run a successful
bakery business, they had little background in business development,
financing and marketing. As a resident of Quincy, Giovanni was
familiar with Quincy 2000 Collaborative and sought advice.
“We never expected so much. Unbelievable.” The brothers
can’t say enough about the support. Quincy 2000 has been
there every step along the way. As part of Quincy 2000’s
partnership with the SBDC at UMassBoston, the brothers developed
a business plan and made sure “the numbers worked”.
With the careful crafting of their plan, they secured a loan of
$150,000 from Quincy 2000 to purchase equipment, renovate the
building, and provide needed working capital. In addition, Quincy
2000 helped them obtain the necessary licenses and permits, both
by guiding them through the process and advocating for them. “They
made the whole process understandable and much easier –
they gave us the confidence to keep moving forward,” stated
Giovanni.
Located on Broad Street just off of Southern Artery, the full
line bakery features both a wholesale and retail component and
expects to employ ten people. Fratelli’s Pastry Shop opened
July 2005, just six months after the brothers walked into Quincy
2000.
The brothers’ commitment has been key to making the process
work. Assisted by a retired relative from the construction industry,
the brothers worked hard to get their building ready. They enthusiastically
look forward to working seven days a week, 7 AM to 7 PM. “I
can’t wait to get out of bed – it is so exciting,”
says an energized Pino.
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Business Plan
Developing the Business Plan at Quincy
2000 Collaborative are co-owners Pino Santarpia and Giovanni
(John) Milone with Karen Sutherland, the Business Development
Specialist from the UMASS Small Business Development Center
Business Financing
Rich Barry, Principal of Barry &
Associates; John Milone, Fratelli’s Pastry Shop co-owner,
Robert Kenworthy, Sr. Vice President of Bank of America;
and Pino Santarpia, Fratelli’s co-owner smooth out
the last details at the loan closing
Pino Santarpia and John Milone receive
their loan from Quincy 2000. John McCarthy, Loan Pool Chair
and Vice-President Bank of Canton; Ward One Councillor Leo
Kelly; Dean Rizzo, executive director Quincy 2000 Collaborative;
Pino Santarpia and John Milone, owners of Fratelli’s
Pastry Shop; Bob Kenworthy, Sr. Vice President of Bank of
America; City Planning Director Dennis Harrington, Ed Keohane,
Quincy 2000 Executive Committee and owner of Keohane Funeral
Homes.
Permits secured,
the work begins
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