DATE: Monday, August 25, 1997 TAG: 9708230744 SECTION: BUSINESS PAGE: D1 EDITION: FINAL TYPE: RETAIL Q & A SOURCE: BY MELISSA GUNDEL, STAFF WRITER LENGTH: 59 lines
A year ago, Larry Schnitt was devastated when a storm flooded his retail operation, and lightning caused a fire. Though he lost about 85 percent of his merchandise, he saw an opportunity to improve the business. After nearly a year of rebuilding and remodeling, the Barn Christmas Shoppe reopened last month in Portsmouth.
How did you keep your business going after the fire and flood?
Luckily, we had a Virginia Beach location. We also put a temporary wall between the old entrance and the rear part of the store. We had about 2,000 square feet of selling space. With that temporary wall, we were able to clean up the front of the store and get that set up for Christmas.
However, our sales were tremendously affected because of the ruined merchandise and because it was so late in the season that manufacturers were sold out of things we needed.
What brought you to this area?
I went into the family business, Modern Miltex Corp., a styrofoam fabricator now in Queens, N.Y. One of my competitors, Star Band (an artifical Christmas tree manufacturer in Portsmouth) went out of business and the facility was for sale. The previous owner called me and told me it was up for auction. I bought the Portsmouth location at an auction in 1976.
When did you start selling Christmas items?
We started that in 1978. We brought our Christmas merchandise down from the family business in New York and started putting it out on pallets and from there it just mushroomed into what it is today.
How long have you been at the Beach?
Since 1993. For about three or four years we were partners in real estate rental with Kettler. It was a perfect marriage. They would sell their patio furniture in the summer and we would come in in October and stay through the middle of January.
We bought the old Color Tile building on Virginia Beach Boulevard last year and decided to stay open all year because we wanted to take advantage of the tourist trade.
Besides the fire, what are some of the other hardships you've seen?
Besides our parking problem, we need to educate people that Portsmouth isn't the end of the world. Portsmouth has sort of taken a second seat to Norfolk and Virginia Beach. Portsmouth needs businesses like us that will attract people into the city.
What advice would you offer someone wanting to start a retail business?
Make sure you have the proper cash flow. A lot of people go into business today thinking that if they have a certain set amount of money put aside that is going to be enough to carry them through. Also when people start a business, they have to really explore and look at what they want to do, and see what the competition is in the field they want to get into. They need to start a business plan and put together a projection as to what they are going to need the first and second year to stay in business. You always have to add a little to that because most people just run out of money and they are out of business before they start a business. ILLUSTRATION: Larry Schnitt
Send Suggestions or Comments to
webmaster@scholar.lib.vt.edu |