TSBDC names Russell Coach Company ‘Rising Star’

When Rob Russell decided to take the leap from working for someone else to owning his own business, the Tennessee Small Business Development Center helped him develop a business plan. That was in 1994, when the entrepreneur launched Russell Coach Company.

Twelve years and many hours of counseling with the TSBDC later, Russell Coach Company is a successful small business by any standard. In fact, the company has proved so successful that the TSBDC has chosen the business to receive this year’s Rising Star Award.

Russell Coach, located on Rutledge Pike in Knoxville, is engaged in motor coach leasing, conversion, restoration and design. The company’s clients are primarily in the entertainment industry and the political arena. They include musicians Carrie Underwood and Gavin DeGraw, California Gov. Arnold Schwarzenegger and the rock group Bon Jovi.

The TSBDC is a statewide network of centers that provides assistance to small businesses and would-be entrepreneurs through three venues: training, one-on-one counseling and access to resources. Locally, the TSBDC is administered through Pellissippi State.

The organization presents the Rising Star Award annually to a small business associated with each of its 11 centers to recognize perseverance and success.

“We are delighted to present this year’s award to Rob Russell,” said Allen Edwards, Pellissippi State president. “Russell Coach Company serves as a model for how small businesses can take advantage of the services offered by the TSBDC and build a very successful enterprise.”

Russell purchased his first motor coach with a $25,000 loan from his parents and financing from the motor coach owner. In 1997, he again sought TSBDC assistance, this time to obtain financing to pay off the first motor coach and purchase a second one.

The entrepreneur was able to get a $466,000 loan with a Small Business Administration guarantee through Citizens Bank of Blount County. Russell purchased additional buses in 1998 and 2001, and in 2004 he expanded his operations by building a 9,000-square-foot building.

If the business continues to grow as planned, the company will soon hire five additional employees and sales will surpass $3 million.

Russell gives the Knoxville TSBDC much of the credit for the success of his company.

“They’re the ones that helped me look at what I’m doing and helped me determine how much I can spend,” he said. “How much am I going to be able to afford to pay monthly for a piece of property and a building? Or can I afford to build another bus?

“I truly believe that if I had not had their help, or the TSBDC as a resource, the chances are that this probably would have never happened.”

To learn more about Russell Coach Company, visit www.russellcoach.com. For more information on the TSBDC, visit www.tsbdc.org.

"Inside Pellissippi" is a bi-monthly electronic publication produced by the Community Relations Office for the faculty and staff of Pellissippi State Technical Community College, 10915 Hardin Valley Road, P.O. Box 22990, Knoxville, Tennessee 37933-0990. All suggestions and comments should be sent to Julia Wood (jwood@pstcc.edu).

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