Dealerscope Pride Award Winner - Myer-Emco
By David Dritsas
TYSONS CORNER, Va.—Jon Myer is sitting at a glass table-top desk in a modest office of Myer-Emco's new corporate headquarters. He is signing payroll checks while his large, but obedient Great Dane, Duke, curls up in one of the home theater chairs that decorates his office. It's a different company from when his father, Edward Myer, started it in 1955 with one store. Today, there are ten stores, all boasting a booming installation business. But it's not just growth in size that has made Myer-Emco successful, that is actually just a side effect of properly managing an independent regional retail chain in the era of the big-box retailer.
The store was pulling in around $5.7 million annually with three storefront locations in 1991, when Jon Myer took over as president and CEO. He worked his way up through the company after starting in the warehouse in 1985. But as high as the numbers may sound they were still down from a $10 million average just a few years prior. Combine that revenue trend with commoditization of products and an emerging Internet culture and the signs pointing towards the future were dark.