PMA February 2010 : Page 26

PMA 2010 Be a retail superstar By Jennifer Barr Kruger PMA 2010 Official Business Session speaker George Whalin, author of the book “Retail Superstars,” explains how some independents achieve stratospheric success In his book, “Retail Superstars: Inside the 25 Best Independent Stores in America,” PMA 2010 Official Business Session speaker George Whalin tells the story of 25 stores redefining what independent retailers can do in a highly competitive environment. At his Official Business Session on Feb. 22, he will provide audience members with insights and actionable ideas anyone in the imaging industry can use to grow and prosper – even in these tough times. Whalin tells PMA magazine some insights he gleaned while writing his book. PMA: What motivated you to write a book about independent retail “superstars”? Whalin: I’ve been a consultant and retail industry guy for 23 years or so. In my business, I talk to lots of reporters. In the early part of 2000, I frequently received calls from reporters saying, “It looks like the big guys are putting all the independents out of business.” I would reply: “That’s not really my experience. I know lots of very good, very successful independent retailers.” The more I kept getting that call, the more I realized these guys needed to have their stories told. PMA: What underlying attitudes or practices are consistent among these standout independent retailers? Whalin: The consistent things are not terribly surprising. The people who own and run these stores are the hardest working people I’ve ever met in my life. For example, there is a guy by the name of Jim McIngvale. He’s known in Houston, Texas, as “Mattress Mack.” He owns Gallery Furniture, a hugely successful independent furniture store. They typically do about $150 million a year from a single store. If you go there at 7:30 in the morning, he’ll be there. If you go there at 8:00 at night, he’ll be there. All these retailers work very, very hard. The other thing consistent among them is a passion for their busi- nesses. Many stores in my book have been around a long time, but Don’t miss the session Be sure to attend George Whalin’s Official Business Session at PMA 2010. It will be held Feb. 22 at the Anaheim Convention Center, Anaheim, Calif. 26 PMA — February 2010 — www.pmai.org PMA 2010 Official Business Session speaker George Whalin, author of “Retail Superstars,” will explain how to help businesses stand out and grow, even in the current environment. the passion of the owners has never faded. They are also highly responsive to the customer, the community, and to changes in the environment and the economy. Many big com- panies are just now reacting to the recession; but these stores were able to react to the recession a year and a half ago. One other thing they have in common – and something that sur- prised me – is they really don’t pay much attention to the competi- tion. They pay attention to what they are doing internally in their businesses to get better every day. PMA: You use the term “innovative” to describe the retailers in your book. From where does their creativity come? How do they come up with their innovative ideas?

Be A Retail Superstar

PMA 2010 Official Business Session speaker George Whalin, author of the book “Retail Superstars,” explains how some independents achieve stratospheric success

In his book, “Retail Superstars: Inside the 25 Best Independent Stores in America,” PMA 2010 Official Business Session speaker George Whalin tells the story of 25 stores redefining what independent retailers can do in a highly competitive environment. At his Official Business Session on Feb. 22, he will provide audience members with insights and actionable ideas anyone in the imaging industry can use to grow and prosper – even in these tough times. Whalin tells PMA magazine some insights he gleaned while writing his book.

PMA: What motivated you to write a book about independent retail “superstars”?

Whalin: I’ve been a consultant and retail industry guy for 23 years or so. In my business, I talk to lots of reporters. In the early part of 2000, I frequently received calls from reporters saying, “It looks like the big guys are putting all the independents out of business.” I would reply: “That’s not really my experience. I know lots of very good, very successful independent retailers.” The more I kept getting that call, the more I realized these guys needed to have their stories told.

PMA: What underlying attitudes or practices are consistent among these standout independent retailers?

Whalin: The consistent things are not terribly surprising. The people who own and run these stores are the hardest working people I’ve ever met in my life. For example, there is a guy by the name of Jim McIngvale. He’s known in Houston, Texas, as “Mattress Mack.” He owns Gallery Furniture, a hugely successful independent furniture store. They typically do about $150 million a year from a single store. If you go there at 7:30 in the morning, he’ll be there. If you go there at 8:00 at night, he’ll be there. All these retailers work very, very hard.

The other thing consistent among them is a passion for their businesses.

Many stores in my book have been around a long time, but the passion of the owners has never faded.

They are also highly responsive to the customer, the community, and to changes in the environment and the economy. Many big companies are just now reacting to the recession; but these stores were able to react to the recession a year and a half ago.

One other thing they have in common – and something that surprised me – is they really don’t pay much attention to the competition.

They pay attention to what they are doing internally in their businesses to get better every day. Whalin: It comes from their customers. at really seems too simple, but it’s true. ese guys hear from their customers on a daily basis about what they like, what they don’t like, and what they want.

I’ll use that furniture retailer in Houston again as an example.

Customers complained about having to wait to get their furniture.

ey would buy it, and then get it maybe two weeks or three weeks later. e owner responded by beginning to display only the items he had a quantity of in his warehouse. If the customer bought it today, they would get it today. He built his business on that concept. Now, he has a hugely successful, high-volume furniture store. ey don’t have a massive selection of furniture; but what they have, they have in stock.

PMA: What’s one of your favorite stories highlighted in your book?

Whalin: One of my favorite stories is certainly Jungle Jim’s International Market in Fair  eld, Ohio. It’s a food store unlike any other. It started out as a fruit stand, and today is a 300,000 squarefoot food emporium. e average Wal-Mart Supercenter is 187,000 square feet, so Jungle Jim’s store is 60 percent larger than that.

ey sell food from around the world, and they carry the products customers have asked for. ey have the most unusual selection you can imagine. ey have hogs heads. I didn’t even know people ate hogs heads; but if you go in there today, you’ll   nd a selection of a dozen hogs heads. ey have chicken feet and duck feet. ey have 1,200 di. Erent varieties of hot sauce.

e owner, Jim Bonaminio – better known as “Jungle Jim” – built a display with an old   re truck, a real one, sitting on top of the hot sauce. ere is a real boat in the   sh department. e store is fun.

ey’re innovative. ey don’t do the same things as everybody else.

PMA: Is this kind of success within the grasp of any retailer?

Whalin: ese people are unique in what they’ve done, but they’re not unique people. ey’re just normal, everyday people who wanted to have a business. e key to it is being di. Erent than everybody else. Most retail businesses look, act, and function like everybody else. If your store is like every other store, why should a customer do business with you? ese stores are di. Erent, and each one of them draws tremendous numbers of customers.

PMA: What will you discuss at your PMA 2010 session? What do you want attendees to take from it?

Whalin: I am going to talk about how to build a business in this environment, and what to do to be better at it. In many businesses, retail or otherwise, the problems are self-in. Icted.

ey don’t pay attention to the customers. ey don’t distinguish themselves from everybody else. ey don’t   nd a way to make their businesses better than the competition.

I’ll discuss how to stand out and how to grow, no matter what the environment is, no matter what the economy is. ere are opportunities out there for every single business – no matter what’s going on around you.

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