Past Pages April 16, 2012: One more round (at bar, not a VC) to fund startups

A trio of local guys who own a group of bars and grills in Reno are creating a river of nickels that ultimately will give a boost to other entrepreneurs.
But the river of nickels could become a torrent, they say, with help from other businesses that want to spur the creation of new small businesses.
Michael Connolly, Chris Kahl and Zach Cage — owners of Legends Grill, Sports & Spirits in south Reno and the Sierra Tap House and the Ole Bridge Pub in downtown Reno — are pledging to donate 5 cents from every trans- action in their establishments to the creation of a loan fund to help startups and expanding young businesses.
The nickel-per-transaction pledge will extend as well to the trio’s newest outpost, The Brewer’s Cabinet, scheduled to open soon on Arlington Street.
Connolly says the campaign dubbed the “Reno Rebuild Project” probably will generate $20,000 to $30,000 this year, and the three bar-and-grill owners expect that will be enough to make one loan to a startup in early 2013.

— Page 1, by John Seelmeyer

 

Furniture stores succeed against big competitors, economy
Independently owned furniture stores struggled with sagging revenues for four years, but the business model still is a viable concept, store owners say.
Even so, making it as an independent in a business increasingly dominated by big retailers requires nimble business strategies and a loyal following.
Over the years the greater Reno-Sparks area has seen many of its independent furniture stores close. Recent store closures include Ric’s Furniture Warehouse and Reno Gallery of Furniture.
The furniture retailers still standing — especially those in smaller communities — benefit from generations of sales to repeat customers or agile new strategies that have helped keep the lights on. Key components of success include rigid control on inventory and staff reductions to control expenses.

— Page 1, by Rob Sabo

 

When walls are five feet thick, they don’t tumble down easy
The walls may come tumbling down this week, but the ones made of concrete five feet thick will take a little longer
Knocking down three dated medical buildings in Carson City is pretty much a routine job for Mike Richardson, president of demolition contractor Facilities Management  Inc.— except for the building with concrete walls more than five feet thick.
Richardson today will begin demolishing the Ross, Waters and Gilbert medical buildings located at Carson Tahoe Specialty Medical Campus on North Mountain Street.
The buildings, each about 38,000 square feet, were construct- ed in 1976 and were no longer needed once Carson Tahoe Regional Healthcare relocated to its new campus on the north end of town, says Jon Tyler, marketing specialist with the hospital.
— Page 1, by Rob Sabo

 

 
EDITOR’S NOTE: Each week, we feature snippets of stories that published a decade ago to provide readers a 10-year perspective of business news in the region. This week’s stories first published in the April 16, 2012, edition of the NNBW.