Retail Excellence:: Right-Sized Expansion
Pioneering, by its very nature, is a proactive pursuit, and Leon Shaw, chairman and CEO of North Carolina's Audio Advice, fits the definition of pioneer in an area of retail expertise—high-performance-audio selling—where others have fallen by the wayside.
For decades, Shaw had run a single store in Raleigh. But last year, despite the nation's chaotic economy, he seized the chance to expand into a prime space once occupied by Tweeter in the middle of Charlotte's Designer Row, a mall full of heavily trafficked furniture shops. It's less than half the size of the Raleigh store but it is, by his account, the right size for 2010.
The recession also enabled Shaw to hire talented people that had either owned a business or worked for one that went under. "We feel like we hired the cream of the crop," he said. "We've put together the A team and there's no way we could have done this at the peak of the market."