Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: SUNDAY, January 22, 1995 TAG: 9501200033
SECTION: ECONOMY PAGE: 6 EDITION: METRO
SOURCE: CLAUDINE WILLIAMS STAFF WRITER
DATELINE: LENGTH: Medium
When layoffs and pay freezes threatened Martin Williams' job at Dominion Bank, the former loan officer decided to turn his hobby into a business.
"We had problems finding good educational toys for our children," said Martin's wife, Rebecca. "We found ourselves ordering more and more from catalogs, which could be very expensive."
The couple decided to market their own toy - a wooden fishing rod complete with sea animals. The Williamses stocked their garage with wood and equipment and began to build their creation.
Unable to find a manufacturer, they soon realized they could not produce enough toys to make a profit.
But together, they found a solution. They decided to open their own toy store and call it Kringles.
The timing was just right, said Martin Williams, who now works for Stanley Furniture Co. Inc. in Martinsville. A surge in consumer confidence and an upturn in the economy created an atmosphere conducive to opening a business.
"Consumer confidence was on the rebound," he said. "We took that as a real positive sign."
The toy business "is something that we have always wanted to do besides the 9 to 5."
They began to research the industry by subscribing to toy trade magazines and calling toy manufacturers.
"We went through mounds of catalogs to see what was out there," Rebecca Williams said. "We sat down every night with a stack of magazines to see if we could come up with a number of items to fill up a store."
As a former loan officer for the bank, Williams said he had helped others secure financing to start their businesses. That experience, coupled with a change in the economy, helped the couple secure a loan.
Rebecca Williams said the new business is a good opportunity for her to secure an income while watching her children.
"There is nothing better than starting your own business," she said. "We found out that if you really want a stable future, you have to do it on your own."
The Williamses opened their store in November, just before the Christmas shopping season. The small store on Starkey Road is light-years away from the superstores that stock Mighty Morphin Power Rangers and other toy fads.
Parents will not find simulated guns or weapons at Kringles. Teenage Mutant Ninja Turtles are nowhere to be found. Instead, the couple has stocked the store with dolls, doll houses, trains, puzzles, building sets and science kits.
Most of the toys are ageless and not trendy, Rebecca Williams said. They are for parents who do not worry about keeping up with the toys children see on television.
The family disconnected its television about two years ago when their daughters - Ashley, 9, and Sarah, 7 - outgrew Sesame Street.
Most Kringles customers hear about the store through word of mouth, Martin Williams said. Although the store's proximity to Toad'ly Kids, a popular children's clothing store, helped November and December sales, Martin Williams said he thinks some of his potential customers were lost to catalog sales.
"But we are looking optimistically to the future," he said. ``If interest rates don't go out of control, we could look at some good times ahead."
KRINGLES TOYS
THE COMPANY: Kringles Toys, a retailer, opened last November.
HEADQUARTERS: The Forum, a shopping center on Starkey Road in Roanoke County.
ANNUAL SALES: Projected at $200,000 in the first year.
HEADQUARTERS: The Forum, a shopping center on Starkey Road in Roanoke County.
EMPLOYEES: 3
by CNB