INTRODUCTIONMy name is Tricia Stacy I am inBusiness& Society MGMT 100-02 class atNichols College. For my smallbusiness interview I interviewed myDad, Bill Stacy, owner of Best Tile inPlymouth and Dedham
DESCRIBE He manages a standalone business because helikes to work close with hisvendors, workers, and anyone who walks intothe store Products consist of Ceramic &Porcelain, NaturalStone, Metal, Glass, Mosaics, Accent Tile My Dad has been in the retail business for 18years
BACKGROUND He started out working at Home Depot for 12 yearsand then suffered a neck injury at work when he wasdoing construction. After that he tried to come backto work and they wouldn’t take him back fearing thathe would sue the company. He loved what he wasdoing and wanted to continue so he started Best Tile.His background in the business was at Home Depot hewas dealing with people at customer service and alsodoing construction there too. Home Depot are twodifferent types of companies because Home Depot is inthe corporate business and Best Tile is family runbusiness.
SUCCESS& CHALLENGES The success in the business is that he has been recognized for inventorycontrol at Home Depot. At Best Tile the success was opening a new store andbeing the only manager that runs two stores and both being top 12 in thecompany. Dedham store is number 2 and Plymouth store is 12 The challenges of the business is finding new way for sales and advertisingto overcome the economic downturn is the country The most challenging aspect of running the business is holding your peopleto a high standard while keeping the moral up too To overcome the challenges, what he does is got to the root of thatchallenge and working as a team to work through it The critical success factors for this type of business is growing your netincome by looking for new and creative ways to put your business out thereand at the same time keeping your expenses down The fatal flaws in this type of business is not being flexible to the type ofproducts you can sell and the price because you have to be within reach of thecustomers reach
THE FUTUREMy Dad does intend to stay in thebusiness and extend the company as far ashe can. Right now he sells and works withwholesale business which works withhouses and small buildings. To extend thecompany he wants to work withcommercial sales which works withbigger and better buildings which includeskyscrapers and high rises.
UNIQUE QUESTIONS How many vendors did you start out with? “ I started out with a hand full of vendors andthen expanded to having hundreds. It started outrough but with good advertising I rose to the top” How long did it take to launch the business? “ It takes a while to get the word out to thepeople because they all have the store that theyalready go to and you have to convince them to buyoff of you, once it gets started it only goes upfrom there”
SUMMARYThe advise my dad gave to the membersof my class is to work hard, hire goodpeople, and be fair to the customers andemployeesMy dad taught me that it takes a lot ofhard work and long hours to launch anew business and you can’t do it alone youneed a good team behind you