What was your career background prior to owning a Woodcraft store?
Mike: I was in the travel business for 30 years, owning a group of travel agencies with 18 locations with over 100 employees.
Why did owning a Woodcraft store appeal to you?
When I sold my travel agency, I was in my early 50s and knew I wasn’t going to fully retire. I had a passion for woodworking and was a customer of Woodcraft. I purchased five stores in Texas at once. Twenty years later, I’m still here.
My wife said, “I finally found a store where I can buy him a present, and now he bought the whole store.”
What was your biggest concern?
How to handle inventory. In the travel industry, our only inventory was blank airline ticket stock. Marketing was nothing new. Having multiple locations was nothing new. But inventory was my biggest concern.
I also had to find the right employees and team members. I wanted to make sure every store was giving good customer service. The Texas stores were already open and running well when I purchased them, so I was able to retain most of the staff.
What’s it like being a multi-store owner?
Find a manager you can trust, and let them run their store. I give them great latitude, as long as they keep the store profitable and with few complaints. I can at any of my stores in four hours or less if needed.
What’s it like working with your sons, Paul and Aaron?
Lots of fun! We have different views, and I still see them as young in the business. [Aaron has worked alongside his father for about 13 years, and Paul, around 7.] They see things in the market differently than I do, and Paul has become a very good woodworker who can identify with our customers. But sometimes they don’t like some of my wild ideas.
How has Woodcraft corporate been helpful in your success?
In the travel business, I worked in present time. In retail, you’re working six months out. So Woodcraft’s proven business model was incredibly helpful for me starting out. Having a huge warehouse alleviated concerns with inventory. Woodcraft helps with data mining, knowing who our customers are and how to get new ones.
What advice would you give someone considering a Woodcraft franchise?
My advice is to get in with as little debt as possible. As soon as possible, I’d advise that if they’re in it for the long-term, get their own building and real estate.
What’s the most rewarding aspect of owning a Woodcraft store?
Woodcraft is a happy place. You get to help people do their hobbies. The very first day we opened Houston, we had a customer come in just awe-struck. I told him, “Wipe the drool off your chin!” He became a valued customer. But it’s very rewarding to see a new customer walk in for the first time. Then later seeing pictures of what they built.
There is a lot of freedom and a lot of responsibilities to being your own boss. If you put in the time and effort to be successful, it pays off big time. It’s also rewarding for your employees. It feels good to be part of a great team.
