Entrepreneur With Background in Powersports Starts Company in USVI With Goal of Dominating U.S. Industry
“An entrepreneurial transplant.” That’s how Trent Hall represented himself when he came before the Economic Development Commission – a subsidiary of the Economic Development Authority on Thursday.
Hall’s Motorsports is known along the Gulf Coast of mainland United States as a business which sells motorcycles, jet skis, and all-terrain vehicles to what are refined to as “powersport” enthusiasts in Alabama, Mississippi, Louisiana and Florida.
During his appearance before the Commission, Hall shared details about growing his family’s multi-million dollar business before branching out to offer his management and advisory services to other motorcycle dealers.
Having moved to the USVI last December, Hall subsequently founded Capture VI, which according to the application before the EDC, is a company that specializes in helping motorcycle dealers reduce or even eliminate certain expenses, particularly in the areas of analyzing the financial feasibility of dealerships, crafting strategies for profitability, and risk management analysis.
In return for the Commission’s approval, Hall promised several things
- To initialize the company with a capital injection of at least $100,000.
- To ensure that the company will, within the first year of when the certificate was signed by the EDC, hire at least 5 full-time employees.
- To channel at least $35,000 in charitable donations annually, with over half that amount dedicated to the Department of Education for public school programs. The amount of money destined for the donation pool would increase by $1,000 each year, up to a maximum of $50,000.
Hall says that his ultimate goal is to acquire a significant percentage of the powersport industry as clients. He projects 100 dealers to have signed up by February, growing to 2000 in two years. At that time, the number of staffers would have risen commensurately to between twenty five and thirty. Training for his clients, Hall envisions, would happen right here in the USVI.
Also at the Thursday hearing, the board heard from Octavia Consulting Group, which applied for benefits as a category 4 designated service business for its provision of business management consulting services to include marketing, staffing, bookkeeping, and back office administrative services. Clients would be located outside of the Virgin Islands.
Following the presentation, EDA Chairman and Dept. of Labor Commissioner Gary Malloy, stated that the Department of Labor would be available to assist as soon as the consulting group is ready to move forward.
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