Kodiak Group of Companies & Logan Fraser
Logan Fraser’s business (Kargan Developments & Consulting Inc. / Kargan Properties) began in 2012 as a property management company located in Regina with 3 employees including himself, managing 500 doors. Logan accessed funding through CCDF’s Métis Youth Equity Program, 4 which was instrumental to the establishment of the business.
The business experienced some issues with cashflow at the onset, but CCDF worked with Logan to adjust a payment, allowing him the room he required to keep the business on track; he was amazed at the flexibility shown by CCDF in its loan programming.Logan’s loan had a two-year term, but he paid it off in a year and a half. The business consultant CCDF provided for the development of his business plan was extremely helpful and understood what Logan was trying to achieve. Logan did not have mentors at the time, and looked to the consultant for advice.
The company experienced significant growth in the years following and accessed CCDF’s Loan/Equity Contribution Program in 2015 to assist in expansion of the business. In 2016, the business merged with JML Properties Ltd. to form Kodiak Property Management Ltd. The business grew from managing 500 doors to 3,200 doors in 3 years. The company currently serves Regina and Moose Jaw, as well as surrounding areas.
“CCDF was the first to believe in me and understand the vision for the business at the infancy stage.”
– Logan Fraser, Kodiak Group of Companies
Through working in property management, it was found there was a void in the marketplace for high-quality and reliable bed bug extermination and construction/restoration companies to service the company’s properties, and so it was decided to pursue launching two new companies focused on these services.
Logan accessed CCDF’s Loan/Equity Contribution Program in 2017 to assist with purchasing the equipment required for establishing both businesses. Rox Bugs and Valhalla Construction were both established in 2017 under the Kodiak Group of Companies (Kodiak), which also includes Kodiak Property Management Ltd. The Kodiak Group of Companies currently employs 26 people.
Beyond the financial support provided by CCDF over the years, Ryan Patterson, Logan’s contact at CCDF, provided introductions and vouched for Logan with SMEDCO and Peace Hills Trust, both of which subsequently provided financial support for one or more of the businesses. CCDF has always had an open door and been supportive of Kargan/Kodiak. Logan maintains that Kodiak would not be where it is today without CCDF’s support. As CCDF is known among the Indigenous community, the organization was able to help bridge a relationship between Kodiak and First Nations communities, where the Kodiak now has significant operations.
Furthermore, and most recently, Ryan introduced Logan to Gabriel Dumont Institute after Logan mentioned that he wanted to pursue restoration training for his staff. Logan was not familiar with GDI prior to this. The quality and consistency of staff at CCDF is critical for Logan, and is something that he has not found at traditional lending institutions. Logan’s relationship with CCDF is like a partnership; Ryan knows Logan’s businesses, and Logan considers Ryan to be a friend.
CCDF is in the DNA of Kodiak; the entity makes efforts to give back to the community and has a mandate to support Indigenous youth programming. The Group of Companies was recently nominated for a Paragon award for its work in this space.
This case study is a part of the Clarence Campeau Development Fund’s Independent Evaluation: 2014 – 2018 conducted by MNP LLP, which fully examined CCDF and its program offerings, including relevant aspects related to governance, management, operations, and achievement of outcomes. Each case study profiles the entrepreneur(s), the business idea, the role played by CCDF, and the outcomes achieved in a personal and meaningful way that provides the reader with real insight into the Fund.
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