The Fifty Cent Store
When Wally and Edna Burkholtzin first conceived the idea of a 50 cent store, they were convinced competition would make them, if not rich, at least profitable. Sure, they said, Dollar Tree was a national conglomerate, but hey, someone had to open that first store somewhere. Why not them, why not here?
Here, unfortunately, was near the long forgotten Happy Kennels, a dog and cat boarding house that lasted a shorter time than a Trump advisor and ended on a sour note when Marta’s husband Jerry left the pens open after feeding time (some say alcohol played a small role) and next day the place looked like a prison riot in Angola, victims dead or bleeding, beloved pets clawed, chewed and bitten. Thus are dreams deferred … and lawsuits submitted. Not so sanguine, Happy Kennels, now the stuff of South End lore.
The Burkholtzins shared Marta and Jeremy’s entrepreneurial zeal right down to their under-capitalization. Rent was low and goods sold under 50 cents obviously were dirt cheap and definitely low grade even by Chinese standards. “If a Dollar Store could make millions,” Wally loved to tell his many detractors and doubters, “ a fifty cent store could make six figures.” Good math, most of us thought, poor economics. At the Grand Opening we all wished Wally and Edna the best of luck, but we went home shaking our collective heads, probably the same for Jobs and Gates, Musk and Bezos, Zuckerberg and Joe Swisherman , the guy who invented and marketed X-ray glasses sold in the back of comic books to see through walls and women’s clothes. Millionaires don’t hear laughs, they hear cash registers.
When, after two months of pretty near zero sales, Wally grumbled to Edna, Location Location Location, he said they needed a new one. So they relocated lock stock and plastic cutlery to the office/store under Windy Rear Realty’s South End office, I guess figuring the potential buyers of high end properties might avail themselves of an opportunity to save nickels, even dimes. When they vacated the building three months hence, they took nothing but themselves. If they’ve found the Right Location, it’s nowhere near here, but their two bit legend definitely lives on.
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Tags: How to Make a Million or Go Broke Trying, South End Entrepreneurism