Home Economics and Efficiencies Are The Antiques and Collectibles In Our Shop Future

HOW THE ANTIQUE MARKETPLACE WILL HAVE TO CHANGE TO MEET THE PREVAILING ECONOMIC REALITIES

AS RETAILERS, WE ARE NO DIFFERENT THAN ANY OTHER SHOPKEEP, WANTING TO KEEP THE DOORS OPEN

     Suzanne and I were talking, just now, over a coffee Andrew brought us, about the antique and collectable shop we would like to have, as a replica, of ones we used to know, in both Huntsville and Bracebridge. We'd like to make this transition, in the not too distant future, being a sort of parallel to some of the general merchandise shops we used to visit as youngsters, growing up in Muskoka. For me it was Bill Elliott's "Five Cents to Dollar Store", which we always called Stedmans, on lower Manitoba Street in Bracebridge. Suzanne remembers her family, driving from the Village of Windermere, to shop at one, (or both) of the Stedman's Stores on the main street of Huntsville, back in the 1960's, and then at the Eaton's Department Store, also on the main street. We both loved the retail experience back then, and it was always at Easter, that I most admired Bill Elliott for the candy counter displays, that were as good as any major city retailer of the era; and it was always the place my parents chose to get my chocolate roosters and rabbits, for the morning of Easter Sunday. It's the kind of nostalgia we would love to re-invent in our own shop, but we have a long way to go in order to replicate the creativity that prevailed back then, of staff members being able to, without a college degree in marketing, set out incredibly effective in-store seasonal displays, to enhance the shopping experience of their customers. All on a budget. I wish we could go back to those former shops to get some ideas, to re-introduce in our contemporary antique shop. They sure had the right idea, and it was always a pleasure to visit those small but unique shops, that so nicely reflected community values, in that era of regional history.
     We used vintage bowls in our kitchen, that not only remind us of our family's food preparation, from the days of antiquity, but remind us daily, how rugged and well constructed they were, from a time when standards were exceedingly high, and quality workmanship a guarantee, the items would be in use for many, many years to come. You hear it frequently, when something newly acquired breaks, just as you were prepared to use it; "they sure don't make things they way they used to!" Most of us, in the antique trade today, recognize this quality issue, and offer the old and reliable housewares once again, for another generational stint in the contemporary household. If you took our old kitchenware away, from Suzanne's kitchen, there wouldn't be much left, including the cats' dishes, which are all vintage by definition of age. We certainly don't feel let down by old stuff, that still serves our modern day needs quite capably. These are the kind of housewares we have in our antique shop, for all those who prefer the old to the new! We plan on bringing in a lot more, because we have first hand experience, just how durable these wares are, in all comparisons, except of course microwave cooking.
     When Suzanne and I opened our Manitoba Street antique and collectable shop, in 1989, we made a fundamental error in judgement. The unfinished basement space, with open ceiling and exposed duct work, wires and iron drains for toilet water, was about the most undesirable spot to locate an antique shop, on the entire main street of Bracebridge. We joined forces with partners, in the collectable trade, who would later abandon us holding the lease. Nice eh? We didn't have too much trouble finding a replacement partner, but we experienced much the same chagrin as from the duo before them, and thinking we might have learned our lesson, we did it one more time, after the second partners vacated the premises. Finally we got wise to the partnership thing, and decided it must be our fault that no one wanted to stay with us for more than a year. We have always assumed our "bulldozer" business attitude doesn't encourage friendships where generating money is concerned. We must have done something right, because we've outlasted the others as Muskoka antique dealers, and we're kind of proud that we survived several recessions, and numerous smaller downturns in the local economy; and of course those dreaded tourist season fluctuations, that can be greatly influenced even by the number of hot, humid, sunny summer days, when cottagers wish to stay lake-side, logically, instead of coming to town for antique hunting.
     From 1989 to 1995, we had no choice but to put our collective already injured shoulder to the mill-wheel, simply because there was no other option. We needed the income our roughly-hewn, little mainstreet shop could produce, especially in those all important summer months. But we had no choice, when it came down to budget, and what our customers wanted in inventory, other than to seriously lower our expectations, and only buy at the lowest prices possible. Instead of tacking-on a mild one hundred percent, when most of our contemporaries were increasing prices upwards of five hundred percent, from the purchase prices (we were at the same sales, so we knew what they had paid originally, versus what appeared on the price stickers in their shops). Many times, to keep our modest inventory turning over, we often made as little as ten percent, on the bigger furniture items, and the middle ground was fifty percent, which did what it was supposed to do; inventory of all kinds, from vintage records, to afghans, quilts, and blankets, was cut in price, to keep cash coming in, and allowing us to change the look of the store weekly. Even with consignments, which we needed to survive, we only took twenty percent, which was the lowest in the region. Even today, we only take twenty-five percent, when the average amount can hit as high as forty percent. In all fairness, the consignors saved our business, back in those horrific years, and I really don't know what we would have done without them. The economy for those years sucked, and sucked some more, and the only way we made it through the eye of the storm, was because of this entire moderation of shop prices, and the kindnesses of our consignors, who kept us stocked-up in affordable collectables and small furnishings.
    For at least three quarters of our little co-operative, which numbered at around twenty, as an average, the money we were able to raise for them, helped keep mortgages paid, debt collectors satisfied, and car repairs funded. We all were having hard times it seemed, and several did lose their houses in the end, but only because they simply ran out of things to sell, and couldn't afford to buy on speculation. We spent a lot of time back then, consoling each other, about our individual bouts with debt, and the shortage of opportunities to escape the economic nightmare, that seemed to have no end.
     Ever since those damning days of the real estate-driven recession, of the late 1980's, up to the mid 1990's, Suzanne and I have understood what it means to be fiscally responsible. There were some years that we were pretty cocky, and had nice pay cheques every week, and opportunities abounding, which ended rather abruptly when the dawn of the 1990's brought with it, a tightening-up at the places I worked. I had three jobs evaporate into thin recessionary air, in a matter of months. Suzanne was fine as a secondary school teacher, but her salary only kept us afloat, in terms of mortgage, utilities, taxes and food every month. The car was a money pit, and the drive from our new house in Gravenhurst to the shop in Bracebridge, was killing the car, and costing us a lot for fuel every month. Then, well, the shop revenue dropped sharply, and kept up the slide, until we figured out how to build an acceptable, more affordably priced, collectable inventory, and turn-over more items each month, to provide money to repair the car, buy our boys clothes now and again, and replenish stock when everything else was paid for. You know, Suzanne was telling me, that she kept her fingers crossed for five years straight, that we would make it to better economic times. "Me too," I said, holding up my own gnarled crossed fingers, as the continuing sign and guarantee of good luck. We made it, but we have the emotional battle scars to prove just how close we came to losing house, business, car and underwear. Not because we were crappy business owners, or had made fundamental errors stocking our shelves, but rather, because we had trusted less than sincere partners, three times in a row; and never anticipating what a full-monty recession could do to us. It was brutal, and although I'm not a regular church goer, I did pray fairly regularly, to get us through the eye of the storm, to see the beauty of economic relief on the other side. The sunny sky of unlimited potential once again!
     I said to Suzanne, the other day, as we were rolling through the beautiful, early spring countryside, of our picturesque region of Ontario, that I was glad we had the opportunity to experience the recession back then, without having the benefit of outriggers; except her job of course which was a fail-safe for sure. I'm sure if we had known what was barreling down upon us, we wouldn't have signed a lease for the shop in the first place, because we already had a little country store, built into our house, on Golden Beach Road, in Bracebridge. Still, being committed to a life-long relationship with antiques, has meant a fair amount of trial and tribulation has come with the territory, and while experience has helped, we still find ourselves confused by the subtle changes in the marketplace, that can pound an antique dealer into the proverbial netherworld. Just when you think you've figured it all out, bazinga, you become the student once again, for the very next lesson of life and profession. We have seen a lot of changes in our industry since the late 1980's, and yes, we've watched many of our colleagues close their shops and quit the trade altogether. I think there are a lot of disgruntled former antique dealers out there, and we might have been lumped with them, if it hadn't been our resolve to roll with the marketplace moods, and change our disciplines as often as required, to keep up with the trends, and the buying interests.
     Continuing on yesterday's blog theme, in part, regarding antique dealer excesses, and mark-ups that are, for some common pieces, unreasonable, as related to the reality of their acquisition prices, Suzanne and I have once again begun to hunker down in our own business, due to what we see out there, in our industry, as tell-tale signs that there's way too much confidence in the assumed spending power, and desires of patrons. Like watching the squirrels and chipmunks gathering a store of food for the winter season, way back in the summer, and all the other signs that the coming change of season will foster a brutal transition, we are pretty sure, from what we have seen and travelled through in the past, is about to present itself once again. You can't have the kind of escalations of valuations, I see out on my travels through antique enterprises, and not expect customers are going to get spooked about shortfalls in investment return. We know, from our own mainstreet shop, here in Gravenhurst, that moderation of price, without any sacrifice of quality, is the only way we will be able to maintain our operation in the coming years. We have no choice, but to roll with the mood of our buyers, and it's been, when looked at closely, a clear period of growing frugality; something we have seen many times before, and is usually the harbinger of more a dire economic unravelling. In other words, we smell a recession out there, and frankly, we don't care what the politicians are saying about the positives of economic growth. They didn't tip us off about the recession of the 1980's, that bulldozed a lot of small businesses, poorly prepared for that era's catastrophic downturn. Although this anticipated change of economy, may not be presenting itself all that clearly, at this moment, we know what our customers are saying, and we know what they expect in inventory pricing. As we have no choice but to bow to their demands, if we want to remain in the industry, we have been working at ways of lowering costs, without sacrificing quality. We did it before, and we can do it again. One of our initiatives, of course, is to keep drawing-in our antique hunting area, which I suspect will be cut down to no more than seventy-five miles, or even less than this, if we start picking up some of the more dire signs, a slowdown is imminent or occurring. Some might call us doomsayers! Go ahead! We happen to know what it's like to be the optimists in the middle of an economic disaster, and honestly, it didn't help much to be upbeat, or laughing out loud, when we'd get our very next "final notice," in the mail. It was our fortune, now that I think of it, to be stubborn competitors, who have always hated to admit we can't finish a project, or meet expectations of us. The bottom line? We began preparing for an economic slowdown as soon as we opened our Gravenhurst shop three years ago. Why? Well, for one thing, we are overdue for a jim-dandy recession. Some critics would argue, our region has been in a slump for the past two years at least, and small businesses have been operating in near-recession economies for the same amount of time or longer. We concur. We listened to our customers, and paid close attention to what they were buying, and the reasons why; which they often confide in, as a matter of basic social intercourse. It was obvious to us, that in order to ride out whatever was coming down the pike this decade, we were going to have to develop a home-economy sensibility, for what we were going to bulk-up on, and that would include everything from cookery materials, kitchenware, including old cookbooks, from those other economic downturns in history, such as the Great Depression, and two World Wars, to give useful, practical alternatives to food preparation, and home canning on a tight budget.
      Was that ever a good move, I don't mind telling you. The list of home economy articles is a long one, from affordable nostalgic afghans, blankets, table clothes, and runners, to vintage sewing machines that still work beautifully, and can be employed to fashion all kinds of cost saving craft and clothing projects. Suzanne is quite willing to tutor those who would like to learn how to sew on one of these fascinating vintage machines, as she used to teach sewing as a Family Studies teacher at Bracebridge High School.
     We are three years into this most recent initiative, to run a mainstreet antique shop, and creating a business plan that can withstand a fair amount of economic downturn, before it can be seriously injured. If Canada is suddenly invaded by the Russians all bets are off. If however, we start hearing about more economic failures, and increasing unemployment, and lagging real estate sales, leading to lesser return on the retail front, we're going to, at the very least, have a running head start, on keeping up with the new and more frugal demands of any customers we have left. We plan on doing this with a pioneering spirit, and the clear vision, that just because the economy sputters, or hits a flat spot, it doesn't mean that all businesses will be adversely affected. It doesn't have to be this way; but being just a little bit visionary, would be helpful, as we sit on a rather precarious ledge in this country, between a diminishing dollar value, and really low oil valuation, waiting to see what happens next. I was a risk taker once. Maybe more than this. Now, I'm a lot less convinced, it will be business as usual by the end of this year. I could never be as cocky as my contemporaries in the antique profession, who seem to believe high prices are not only warranted, but necessary. I get a kick then, listening to them trade stories, about how tough the winter was for sales, and how it might have been better to just close-up shop. Never once, have I heard them say, as an explanation, "Maybe my prices were too high." Well, if it's true that the customer is always right, and there actually were customers to speak of, then possibly, the answer is just that simple.
     We are not trying to establish a consensus amongst our dealer colleagues. It would be an impossible task at any rate, because most would refute our claim of a coming economic adjustment, that may or may not have a dire consequence. We only know what our customers are telling us, and what we know about our home region, and community. And it is pretty clear, we need to accommodate their buying interests, because this is what we depend on to keep our shop open six days a week, twelve months a year. If we don't pay attention, and decide that market conditions are irrelevant, we will then watch as half our revenue disappears, as it was recorded the year previous. I see a lot of antique dealers these days, who have little if any concern, the rock 'n roll of the economy, will affect them in their pursuit of the old buy and sell. History reveals a much different reality, but it's not my place to re-educate those who truly believe they are teflon coated, and can never be thusly hurt, even if a recession was to suddenly blossom before the first hot day of this year's summer season. Well sir, with the number of wars and near-wars happening around the globe these days, and Canada's immersion in several of them, there is reason to be a tad wary of what might come next, in this, an election year as well. Do I recommend closing up businesses, and batting down the hatches? Not at all! My only advisory, would be to go back on what you grandmother, or mother told you as a kid, when you didn't want to leave the party. All good things eventually come to an end. As there are the cycles of economy, and we're due for one pretty soon, we should just expect the party is going to end eventually; but there are ways to secure the business economy before such an adjustment, of the mild variety, or the cruel breed, that hurts everything it passes over.
     Our way to recession proof the antique business. Home economy! Bringing out the heavy duty materials of a bygone era, to make yet another stand for the good of the homestead economy. We Curries eat by the light of our reliable oil lamps, great for the power outages of the modern era. Durable goods from another period in history, that are still worthy of another hundred year jag. Useable antiques and collectables, like quilts that keep us warm in our bedsteads, and vintage mixing bowls that have the quality to take a beating without cracking or chipping. Older pots and pans that while nostalgic in their age, and look, are rugged and cooking-worthy even after being long retired. Vintage glasses, goblets, and silver adornments, just as suitable to a dinner table, as they were in their heyday. All that can be acquired for prices competitive to what is available as new merchandise today.
    As regional historians, this is right up our alley, because we know how the Muskoka economy has survived since the late 1850's, to meet the challenges of this new century. Ask us about it, one day when you're in the neighborhood. We love to talk about history.
There's a lot to learn from the past, to make the future better for all of us. Unfortunately, it seems, the forward minded folks, have little use for the precedents of the past.