ANCHORAGE (AP) The owners of a used-book store in Anchorage have been named Alaska's Small Business Persons of the Year for 2003 by the U.S. Small Business Administration.
Steve Lloyd and Julie Drake opened Title Wave 12 years ago in a 900-square-foot space with one employee. Two moves later, the store now occupies 33,000 square feet and employs 44 people.
Four other Alaska business owners were vying for the award, the SBA said. A formal presentation will be made in early June.
Criteria for the award include growth in sales and employees, financial stability, innovativeness of products and services, response to adversity and contributions to the community, said Frank Cox, Alaska district director for the SBA.
Lloyd, a lifelong Alaskan, and his wife and partner Drake, who came to the state in the mid-1980s, followed a growth path that was mapped by their customers. For example, the store now carries a larger selection of new books.
Title Wave's sales have grown to an expected $2 million this year from $10,000 during the shop's first year, Lloyd said.
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