With the floodwaters subsiding and construction work at the riverhead on the site finished, it’s time to talk about what you can expect.
We asked the team behind the Riverhead Building Supply store, based in NYC, how they got their start.
It started as a small business.
It’s like any other retail business in the city of New York.
They have a very strong business model, and they do a lot of inventory, so they have the inventory they need.
They’ve had some good years.
So we thought, what if we did it this way?
And we started with a building supply store, which is the next step up.
The next step, we went to our local broker, and we found a building supplier that we thought was really good.
And we decided to buy it.
And then the next thing you know, we had the supply for a warehouse and we went into a bidding war, which was good because we got the warehouse.
And so now, we have our warehouse, our warehouse and the supply and it’s been great.
What do you love about working at Riverhead?
What we like about Riverhead is that we have a good team, which means that we can have great conversations.
The team has been really good at the construction process.
We’ve had great conversations with them.
I think they’re very knowledgeable about what they’re doing.
We have been able to communicate really well with them, and it works really well.
How has your experience working at the Riverheads building supply been?
It’s been really awesome, actually.
It’s a very well run business.
We do the bulk of our business in New York City.
We also do a little of it in Brooklyn.
And they have a warehouse in Brooklyn, so we can do that.
The warehouse is very large, and the space is really nice.
So it’s a good size for our business.
What’s really great about the business is that, if you have an idea that you’re really passionate about, you can talk to us about it and we’ll be able to help you out.
We’re a little bit older, so I think we’re kind of older than some of our competitors.
But we have people that are really knowledgeable.
We try to work with people that have really good ideas.
How did you become the owner of the store?
I started the store about six years ago.
We started as an independent store, and that was our dream.
I thought we had done a good job of it.
But the next year, we got a call from a buyer.
He said, I’m selling, and I need you to come in and help me buy the business.
And that’s when we found the building supply company.
I was a little surprised because we hadn’t heard anything about it before, and then we heard they were looking to buy.
They said, we want to make sure we get the right people.
So I said, let’s go in there and see if we can help you, because I’m pretty sure this would be an ideal situation for us.
We had a couple of different ideas, but I’m happy that we went in there, because it was a really good opportunity to get the building supplies business going.
How much do you make on a week-to-week basis?
We’re working about $60,000 a week.
And for the bulk inventory, I make about $50,000, so that’s a pretty good profit margin.
What we do for our retail sales is we sell it on the wholesale side of the wholesale business, and there’s a lot more inventory than on our wholesale side, so it makes up about half of the inventory.
How many people do you have?
There are about 12 employees, and a lot less than 12 people work on the day to day running of the business, but there are a lot that work around the clock.
It seems like we have one guy that’s doing everything, but he does it with all the other people.
We hire people that work with the company and they have different skill sets.
We bring in people to help us out.
How do you feel about the fact that it’s on the rise and you’ve done a great job?
It makes us feel very confident.
We know that we’re doing a good business.
When you go into a retail business, there’s not many places to sell stuff.
If you’re in a retail store, you’ve got to sell something.
It has to be the best thing you can do, and if you can’t do that, you have to be very aggressive about it.
So when people come to us, they want to know what we’re up to.
It gives us an opportunity to be more aggressive.
What are the challenges that you face in your business?
We don’t have a lot to complain about.
We sell a lot. We