I conducted this interview with Wayne Kiser; owner of Kiser Builder’s, a Morganton based home building and land development company. Wayne has built over one hundred homes in the Burke County area over the last thirty-five years.
Rick: Tell me a little bit about how you started Kiser Builders.
Wayne: I worked for several years for Rutherford Electric and decided one day in the mid 70’s I needed a change. I built a spec house on a lot that I had purchased (while still employed at Rutherford Electric) and at the time I really didn’t know what I was doing. The first house compared to my houses today was not very good but I learned a lot. Money was tight in the early days of the business and it was very stressful.
Rick: What would you say was the biggest challenge in deciding to start your company and leave the security of Rutherford Electric?
Wayne: Well, I had a young family at the time—three young children. So I was concerned, and so was my wife, about the possibility of failure. If you have a family I believe that you have to consider the possibility that your business will fail and weigh the consequences of that failure. I’m very conservative, by nature, so I must have been very confident, at the time, that I would succeed. I also really didn’t have much money which made things difficult. I was in the business for 2-3 years when the economy really took a nose dive—the Jimmy Carter years. Interest rates were in the high teens which absolutely destroyed the housing market. I didn’t know if I could make it through those years but I did. That economy was something that I wasn’t prepared for but I learned from that experience to work leaner and to never overextend myself. For example, I avoid debt in my business whenever possible. Any debt that I incur is short-term.
Rick: Was the economy worse for you then or now?
Wayne: Much worse then. I’m at a different point in my business now. I’m older and near retirement so I don’t get as concerned now. The interest rates are so much lower now that even with the rest of the economic difficulties I can still sell houses. If the rates rise up to the late 70’s levels there would be no housing market in my area at all.
Rick: How has your past business experiences influenced the way you run your company today? Wayne: I’ve seen how bad things can get so I don’t overextend myself by having to many projects going at the same time. It may cost me some money from time to time. For example, I’ve passed up some great deals on various properties because of other investments that I have made. Some other builders and developers will jump at anything that looks good and many of them have experienced some severe difficulties in this latest downturn. I’ve developed the patience to make good decisions. I’ve also learned to build houses that I know will sell in my market. I sell a lot of houses to school teachers and other state employees that have relatively stable incomes. I also do not hire much of a workforce. I used too by no more.
Rick: What are the most employees that have worked for you at any point in time?
Wayne: I had four employees at one point but the responsibilities and the cost were not worth it. Also in my industry it’s really hard to find and keep good help. When work slowed down they would leave. When it got too busy they would leave once they had enough money to be comfortable for a couple of weeks. My best employee learned enough working for me to go out on his own.
Rick: How many employees do you have now?
Wayne: Just one, actually he’s now more of a partner, my son Pat.
Rick: How long has Pat worked with you?
Wayne: For around 25 years. He started working for me in the summers but after he graduated from high school he’s been fulltime. Eventually it will be Pat’s company.
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