1. Can you tell me a brief history about your business?
My name is Larry Mason. I purchase some property around 1998 for $3500. At the time I had an old store building that was a tire shop. The building was rundown and I was unable to fix it and I had it destroyed. In 2001 I erected a building 30 ft wide and 75 ft long; a metal building. And I built a parking lot out front of the building.
2. Who leased the building?
Before I was finished construction, I leased the building to Judy Hicks for about 8 months at $1000 per month.
3. What did she do with it?
Judy had an auto mechanic shop with 2 mechanics on staff.
4. Who leased the building after Judy?
I leased it to Don Mustang and then Joey Dunbar.
5. What did Don Mustang do with it?
Don Mustang from Maryland rented it and he stayed about two years. He was in the business of fully restoring old Mustangs. And the rent was still $1000 per month.
6. What did Joey Dunbar do with it?
After Don left Joey Dunbar leased it and created Dunbar Auto Sales. Dunbar runs a used car lot with a mechanic shop on the side. The rent increased to $1200 per month from there to 2007. In 2007 the rent increased to $1375 and has been that way ever since.
7. What risks did you take?
I had $50,000 worth of risk just in the metal building. I have expanded to property behind it for $8000 dollars. I had to purchase the extra 2 acres because I needed a septic system.
8. Why did you quite selling tires?
When I was working by myself I had to benefits and had no insurance. I needed health insurance because my health wasn’t all that great. So I got a job at Mallinckrodt Chemical Company and finally got the benefits I needed. But because of the lack of benefits I didn’t continue a Tire Shop.
9. What are your short term goals for your business?
No I don’t have any plans other than turning the property over to my daughter Tammy.
10. What distinguishes you from the competition?
I don’t have any competition. The rent is too low for anyone to pass up.
11. What challenges did you face when you first started your business (i.e. permits, license)?
2-3 months of startup time for permits and monitoring the setup.
12. What risks did you take and what where the outcomes?
I don’t see it as a risk I see it as an opportunity, but the initial money I invested was risky because I used part of my retirement.
13. What recent problems have you encountered with your business, and how did you overcome them.
I haven’t had any problems anyone who doesn’t pay rent leaves.
14. Will you ever expand to multiple locations?
I don’t but I wish I did before now. When I bought the land in the late 90’s land up and down US 1 was very cheap. I wish I could have bought 4 or 5 of those buildings.
15. Please describe your typical day?
I get up cook breakfast, hunt, fish and mess with hobbies in my shed. I’m retired and I’m just living my life doing what I want to do.
16. Does the market affect your business and how?
Yes, the “cash for clunkers” program hurt business, because I was leasing to Dunbar who had a used car lot. Dunbar managed to stay afloat through the tough times.
17. What caused those people to leave your business?
Don moved back to Maryland. Judy went bankrupt.
