Congratulations!!!
Marvin and Marion Hatch
2001 Success Award Winner
Name of Business: International Petrified Forest, Inc.
Nature of Business: Tourism Park at 1-40, exit 292
Owner: Marvin Hatch
Address: P.O. Box 8, Holbrook, AZ 86025
Phone: (928) 524-9178
Fax: (928) 524-6458
Email: dinopark@hotmail.com
Web site: www.petrifiedforest.com
Business structure: Corporation
Year business began: 1998
Employees at start up: 12
Employees in 2001: 12
Sales in first year: $340,000
Sales in 2000: $560,000
2001 Sales forecast: $1 million
Start up capital: $3 million
Source of initial capital: Stockholders
Line of credit in 2001: $500,000 (Community First Bank)
SBDC counselor: Mark Engle
Two brothers turned their passion for petrified wood into a 6,000-acre
park that is becoming an important northern Arizona tourist attraction. Marvin
and Marion Hatch, natives of the Holbrook area, opened International Petrified
Forest, Inc. in 1998.
"We both love petrified wood," says Marion, who runs the business day-to-day.
"Marvin and one of his friends had quite a few prehistoric artifacts, and
they wanted to preserve them intact and make them available for others to
enjoy." Marion's interest in dinosaurs complet- ed the park's offerings.
The park is made up of the International
Petrified Forest, the Museum of the Americas and Marion Hatch Dinosaur Park.
A three-and-one-half mile scenic International Petrified drive takes visitors
through 240-million-year-old Forest, Inc. Triassic petrified forests, a
natural painted desert Holbrook and dinosaur replicas. Dinosaur bones, found
on the property, will be excavated and incorporated into a special exhibit.
The exhibit building houses a large dinosaur collection and prehistoric
and Native American artifacts and pottery. The park required $3 million
in start up capital. "Things were going good until we ran out of money,"
Marion says. That's when he remembered Mark Engle and Northland Pioneer
College Small Business Development Center. "Mark had worked with me on a
previous company, and I figured I'd better find him again fast."
The SBDC helped the brothers write a business plan and project comprehensive
financial forecasts. Mark also helped them identify new sources of capital,
meet potential investors and secure necessary funding. Now, business is good
year-round. The park has offered archeology and field studies classes.
Visitors have come from Europe, Australia and Asia. Expansion plans include
a restaurant and overnight accommodations.
Marion includes the SBDC in those plans. He says: "Every small business
needs to find a Mark Engle. He's always there to help."