Eat, Shop, Bank Local: Teagan’s Interiors, elevating homes and transforming spaces
September 12, 2024
At The Bank of Tioga, we believe that a community is only as strong as its local businesses. This is why we have highlighted local businesses in northwest North Dakota as part of our Eat, Shop, Bank Local blog series. For this blog we have featured Tyler and Nikita Swanson owners of Teagan’s Interiors in Crosby, ND.
Story behind the owners?
Tyler and Nikita Swanson are hard-working with grit and resiliency. Tyler is originally from Western Montana and Nikita is a Crosby native. The couple decided to purchase the business after conversations with the previous owners of Garbel's, who were looking to retire and sell. They were convinced that this business was truly needed in the Crosby market and wanted to keep it going to support the community and its customers. The purchase, along with the name change to Teagan's Interiors, was completed in August 2022. Another key person in their decision was Divide County Economic Developer KayCee Lindsey, who assisted them with business questions, running numbers, and ensuring the business was the right fit.
Tell us a little bit about your business?
Teagan’s Interiors supplies flooring, blinds and window coverings. The flooring includes carpet, LVP-luxury vinyl planks, LVT-luxury vinyl tile, laminate sheet vinyl, ceramic tile and hardwood. In December of 2022, the Swanson’s also added a couple different cabinet lines that they sell and can order for customers. They offer full installation on all flooring and blinds and window coverings, but at this time does not offer cabinet installation.
Teagan’s Interiors retained one installer/employee from the previous owners and also works with a contracted installer for ceramic installations. The primary installer is Tyler Swanson, co-owner of the business, while Nikita Swanson, co-owner, handles a variety of tasks, including day-to-day operations, bookkeeping, sales, and unloading trucks.
Teagan’s Interiors serves a wide area. In their first year of business, they took on a job in Bismarck, ND, over 230 miles away, to support a local customer who wanted to buy local. Since then, they typically cover a 150-mile radius, serving clients in Westby, MT, as well as Kenmare, Powers Lake, Ray, Tioga, and of course, Crosby, ND.
What advice would you give to other people who are interested in starting their own business?
Do your research! Making sure you have the support in your community for your type of business is key. Nikita also recommends researching the types of positions a business requires and may need in the future. Even if you have a great business, without the necessary staff to fill key roles, it will be challenging to sustain and grow. It is also good to utilize someone that is a mentor or a good business financial advisor – being able to pull figures, budget, and make sure you can be financially successful is also key. For Nikita, she lists Savanna Hendrickson (TBOT President) and KayCee Lindsey (DC Economic Developer) as key people that helped her!
Where do you want to be in five years?
In five years, our primary goal is to sustain the business, with growth being a welcome achievement. One of our current installers will be nearing retirement, so finding a qualified replacement will be crucial to our success and growth. Additionally, we aim to continue offering affordable products. Since purchasing the business in 2022, we have not faced supply issues and have even seen prices decrease, which we hope to maintain.
What factors influenced your decision to choose our bank for your business needs?
After being in business at Henny’s (Crosby’s Main St. coffee shop) for several years, we had already moved our business accounts to The Bank of Tioga. The willingness and eagerness of the banking staff was the main reason, and particularly Savanna Hendrickson. I really trust and felt supported by her and the whole banking team.
Can you share any specific examples of how our bank's services have helped your business grow, overcome challenges, or addressed any initial needs?
Starting out at Teagan’s Interiors, I hadn't fully planned out the cash flow aspect. When TBOT recommended a Line of Credit and explained its benefits, it was an easy decision. The LOC was super simple to establish, and I can now utilize it to help with our Net 30 invoices.
Another invaluable service is the online banking and cash management services. Brittany Smithberg set everything up for the business, and now I can see everything with one login on a single page. I can easily transfer money and view balances. Compared to other online banking systems I have used, The Bank of Tioga's is superior in my opinion.
Can you share an instance where our team went above and beyond to assist you?
Beyond the two services stated above, as a business owner Krista Verlinde at the bank always ensures that I’m aware of timing for bank events like REV. I really appreciate Krista stopping by each fall with a handwritten letter, application, and details – it is so nice The Bank of Tioga is always thinking of small businesses and fulfilling their needs and wants.
Can you share any experiences or benefits you’ve observed from our bank’s community involvement?
From day one, The Bank of Tioga has always showed community involvement. I love all the donations to the school and really enjoy seeing the School Bank at Divide County Elementary. The Bank of Tioga and their employees’ presence speaks volumes!
Location and hours
22 N Main, Crosby ND 58730 and call at 701-965-6367
Monday-Friday: 9AM-430PM and Sat – by appointment
Note, Teagan’s Interiors is always willing to do appointments with customers after hours. Reach out anytime to discuss what works for your schedule! Visit more at teagansinteriors.com.
At The Bank of Tioga, we IGNITE PROSPERITY® by helping our clients do more with their money. Whether it’s saving a little extra cash each month or accomplishing a long-term strategy, our goal is to help you transform your financial life. Call and schedule an appointment today, one of our team members would love to help you do more with your money at The Bank of Tioga. The Bank of Tioga has two locations in North Dakota. For more information visit thebankoftioga.com or call 701-664-3388 for Tioga or 701-965-6333 for Crosby.