Circle Court Motel Transitions Ownership To Next Generation – Grand Reopening, Ribbon Cutting & Transition Celebration To Be Held

The Circle Court Motel recently transitioned ownership from long-time owners, Jerry and Barb Greer, to the next generation. Ticonderoga residents Joe and Alicia Vilardo will carry on the motel’s legacy as an important anchor business in the Ticonderoga Area and Adirondack region. To celebrate the transition, the Ticonderoga Area Chamber of Commerce (TACC) in coordination with the Center For Businesses In Transition (CBIT) will host a grand re-opening, ribbon cutting, and transition celebration on Thursday, September 2, 2021 at 4:30 PM on the motel grounds.

The transition marks a collaborative success for the Greer’s, Vilardo’s, TACC, the SUNY Canton Small Business Development Center (SBDC) at Clinton Community College, local professionals, and CBIT — a partnership of regional organizations, led by the Adirondack North Country Association (ANCA), that connects retiring business owners with succession planning resources and networks.

“The Ticonderoga Area Chamber of Commerce and the Small Business Development Center in coordination the Center For Businesses In Transition have been invaluable resources for us as we began the process of purchasing the Circle Court Motel, through the actual transition, and as we operate today. We couldn’t have done it without their assistance, support, and guidance. They were extremely knowledgeable on the whole process. The team was always there to guide us, plan, answer questions and to point us in the right direction to the other resources or services we needed. We are extremely thankful for all the assistance they have provided and would recommend them to anyone looking to start a business, those currently operating a business, and anyone looking to take over an existing business. The transition would also not have been possible without the coordination and support of the Greer’s and local professionals,” shared Alicia & Joe Vilardo.

The Vilardo’s worked closely with the CBIT team throughout the business transition planning process. CBIT community liaisons and partners from TACC and SUNY Canton SBDC provided business support, services, and planning and development resources and helped guide them from their initial inquiry to the final transition. The former owners as well as local real estate agents, lawyers and accounting professionals were also key to this successful transition.

“It takes a team! The Chamber continues to focus on business support, services, and development as one of our key areas of focus. Our partnership with ANCA and the Center For Businesses In Transition, the Small Business Development Center, and local businesses truly allows us to provide a business support and services team to our existing businesses, potential businesses, and those looking to take over an existing business. It truly takes continued collaboration and a dedicated support team. We are honored to work very closely with the Vilardo Family on this transition. This event will celebrate the hard work and dedication of the Greers and the future of this important community business with the Vilardo’ s at the helm,” commented Matthew Courtright – TACC President & CEO.

ANCA Entrepreneurial Economy Program Director Danielle Delaini said that financing can be a major hurdle for entrepreneurs who may be interested in purchasing an existing business from owners who are preparing to retire. “Aspiring business owners often face challenges accessing capital to complete the purchase,” she said. “Offering Owner Financing can improve the likelihood that a business will transfer successfully and ultimately help sustain other local businesses and jobs.”

This and other business transitions across the region have been supported by CBIT, which is led by ANCA and has representation from 12 economic development organizations, including TACC and SUNY Canton SBDC at Clinton Community College. The Center is funded in large part by a grant from the Northern Border Regional Commission.

“We are pleased to be able to help another North Country business transition to new ownership,” said SUNY Canton SBDC Director Dale Rice. “As more business owners prepare to sell, securing and supporting new owners will help to keep our area economically viable.”

A grand re-opening, ribbon cutting, and transition celebration will take place on Thursday, September 2, 2021 at 4:30 PM at the Circle Court Motel, 6 Montcalm Street, Ticonderoga, NY. Complimentary refreshments will be served and tours will be available following the ceremony. In addition to the TACC, ANCA, CBIT, and the SBDC, local and state representatives will participate in the ceremony.

Business owners interested in transitioning their businesses or individuals looking to take over an existing business are invited to contact CBIT at transitions@adirondack.org, TACC at mcourtright@ticonderogany.com or SUNY Canton SBDC at smithangela@canton.edu.

For more information on the Circle Court Motel call 518-585-7660 or visit www.circlecourtmotel.com.