Lance Studer – August 2026 Entrepreneur of the Month
The NIACC John Pappajohn Entrepreneurial Center and North Iowa Area SBDC are proud to announce Lance Studer of Lance Studer Custom Automotive in Hampton, IA as the August 2026 Entrepreneur of the Month.
Lance Studer has built his business by taking on challenges, learning from others and staying committed when the path forward was uncertain. After working full time in the HVAC field, Lance decided he wanted to build something of his own. “I had a great job but I have to really challenge myself,” Lance said. “I was getting comfortable and I didn’t like it. Plus, at the end of the day I wanted to build something to leave for my kids.” Lance started his business while still working a full-time job, taking on automotive and mechanical work. As the business grew, he left his job and purchased his first building, moving into the business full time. Today, Lance Studer Custom Automotive has grown into what he describes as a “one stop shop”, providing auto body, mechanical, and custom work all under one roof. Lance credits persistence as one of the most important factors in building his business. “There’s no ten simple steps to success. 80% of success is just showing up,” he said. “It’s hard work but going through the grind is how you do it.”
Lance connected with the NIACC John Pappajohn Entrepreneurial Center and the Small Business Development Center (SBDC) while working to secure funding to purchase his first building. His bank recommended working with the NIACC Pappajohn Center and SBDC through a combination of business counseling and entrepreneurial training to flesh out his business plan and firm up his numbers. Lance enrolled in Venture School, the University of Iowa’s statewide entrepreneurship program offered through the NIACC Pappajohn Center. “I started Venture School mainly because I wanted the banker to be happy with me, but as I went through the classes I realized just how beneficial it was,” Lance said. Through Venture School, he gained experience in marketing, planning, strategy, and managing the business beyond the work happening in the shop. “In Venture School, I got the chance to see how other people are running their business. I learned from them and I was able to help a couple of them too,” Lance said. “But I also saw how you can learn from what multi-million-dollar companies are doing. It’s just applying the same methods, no matter what size your company is.”
As Lance grew his business, he found he had the opportunity to grow even further by purchasing Butch Gruelke Auto in Hampton, IA. Butch was interested in slowing down and retiring, but also wanted his business to continue serving the community. Lance worked closely with Brook Boehmler, Regional Director at the North Iowa SBDC, during the transition. Business succession planning can often be a long and complicated process with many moving parts, but Lance credits Boehmler, the SBDC, and the Pappajohn Center for their assistance during the acquisition. “Brook definitely kept me levelheaded,” Lance said. “If I had any question or worry at all, he was always there to get me through it. The SBDC and the Pappajohn Center have been the biggest resource for me.”
For Lance, entrepreneurship is about more than building a business; it’s about building his community, too. He values the opportunity to support his community, including sponsoring local youth sports and school activities. “I find that very rewarding,” Lance said. “And I feel if I can give back into the community and supporting kids, that’s where I put the money.”
His experience has also shaped the advice he gives to other entrepreneurs: keep going, even when the work becomes difficult. He also encourages entrepreneurs to surround themselves with people who can help them grow. “At this moment in my career, I’ve learned to surround myself with smarter and more successful people than I am,” Lance said. For Lance, that mindset has helped turn a business he started from the ground up into an opportunity to serve his community and build something for the future.
