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How to Recapitalize Your Business

Need cash, but don't want to give up control of operations? You can get the best of both worlds by recapitalizing.

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This story appears in the February 2007 issue of Entrepreneur. Subscribe »

When Kim Wigington began making candles in her spare time, it was a relaxing hobby that allowed her to spend quality time with her mother, Beckey Neal. Soon, however, what started out as a pleasant pastime blossomed into a full-fledged business for the mother-daughter duo, who opened retail store Wicks n' More in 1999 and soon began selling to other retailers.

Immediate success led Neal and Wigington to eventually quit their day jobs to concentrate on the business full time. By 2005, sales of their hand-poured candles had reached $5 million, thanks to distribution in more than 3,000 boutiques and department stores.

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