What's Happening?
Kim Stenglein, a long-time employee of American Science & Surplus, has purchased the Milwaukee store to prevent its closure. Stenglein, who has worked at the store for 22 years, took ownership on October 1, following a GoFundMe campaign initiated by the previous owner, Patrick Meyer. The fundraiser aimed to support the 88-year-old business through financial difficulties, raising nearly $200,000. Despite the funds, the existing business model could not be sustained, prompting the sale. Stenglein plans to maintain the store's focus on brick-and-mortar sales, with no immediate plans for online sales. She intends to keep the product offerings similar, albeit with fewer options per category, and is working to establish new vendor relationships to ensure the store remains stocked.
Why It's Important?
The acquisition of American Science & Surplus by an employee highlights the challenges faced by small businesses in maintaining operations amidst financial hardships. This move preserves a local business that has been part of the community for decades, ensuring continued employment and service to its loyal customer base. The decision to focus on physical store sales reflects a commitment to traditional retail experiences, which can foster community engagement and support local economies. The preservation of such businesses is crucial in maintaining diversity in retail options and supporting local entrepreneurship.
What's Next?
Stenglein is focused on stabilizing operations and building relationships with vendors to keep the store stocked. She is open to feedback from customers, known as 'surpies,' to tailor the store's offerings to their preferences. While there are no immediate plans for online sales, Stenglein has not ruled out the possibility in the future. The success of this transition will depend on her ability to navigate the challenges of managing vendor relationships and maintaining customer satisfaction.
