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Store owner Eric Meyer, left, with Taylor Diamond, who manages both Ice Import stores in Waterford and Mystic. Another is underway in the US Virgin Islands.
A local entrepreneur whose retail business is benefiting from the contraction of the Covid economy is expanding from coastal Connecticut to the Caribbean.
Eric Meier’s business, which he founded 20 years ago, consists of two retail stores that sell rare, unique items, one at the Crystal Mall in Waterford and the other at Olde Mistik Village in Mystic. A third location is under final planning for the US Virgin Islands. This success came not only from Mayer’s entrepreneurial drive, but – as strange as it may sound – from the pandemic that has wreaked havoc on so many businesses.
In the year In the months leading up to the Covid-19 pandemic in early 2020, Meyer’s business, despite being long established with a loyal customer base, struggled to generate positive cash flow to maintain inventory. Then external events intervened and helped him get the business back on track with a lot of work and strong family support. It is thriving today.
The first of these events was meeting with SCORE (Service Corps of Retired Executives), at one of their free workshops. SCORE is a national nonprofit association and resource partner of the US Small Business Administration that provides free confidential counseling to small business owners. His SCORE consultants helped him develop financial control and reporting systems that strengthened his understanding of his business finances.
A second source was low-interest, long-term, federal loans received to help weather the Covid-19 pandemic. The outbreak also forced the state to implement a two-month shutdown, giving it the breathing space needed to regroup and collect government loans. As a result, it is prepared to receive customers after the closure of the facility to achieve the desired benefit.
Myer’s business is now roaring and has already earmarked retail space for its third store in Charlotte Amalie, the capital of the US Virgin Islands.
“I could throw a baseball into the ocean from the front door of the store,” says Meyer. “We are located where the tourists flock. It’s a retail dream.
“My talent is knowing what products people buy and what keeps them coming back for more,” Meyer says.
The products offered in the two existing stores include precious stones and jewelry; swords, swords and shields; Incense and incense burners, figurines and decorations and metaphorical objects. (https://iceimports.com/)
In addition to his SCORE mentors, Meyer credits several people, including store manager Taylor Diamond. She has been an integral part of its success for 13 years, managing both stores. The family, especially the wife, became an important source of support.
“If I could describe myself in one word, it would be ‘thank you,'” Meyer said. I’m grateful for the opportunities I’ve had and the people who have helped me take advantage of them.
Hugh M. Ryan is a Certified Consultant for the Southeastern Connecticut Chapter of SCORE. He can be reached at hugh.ryan@scorevolunteer.org.
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