SUMMER 2009 EDITION
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Businesses thrive despite recession
Jessie King/STAFF
Linda Canestraight examines the new soles on her eight-year-old sandals. "This man saved me a bundle over the years," she said referring to Bob Wood, owner of Dawson Shoe Repair on Ninth Street in Columbia.
COLUMIBA — It may be tempting to take home a new pair of shoes, but Bob Wood, owner of Dawson's Shoe Repair, offers an alternative during this recession.
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Bob Dawson repairs a sandal at Dawson Shoe Repair on Ninth Street.
Bob Wood, owner of Dawson Shoe Repair, has been repairing shoes since the 1960s. Wood took over the business from his father in 1990. Woods' grandfather and father was also a shoe repairman.
"I want people to look at repairing things instead of throwing them away," Wood said. "And slowly it's happening."
In this economy, people are becoming more eager to use what they have.
"People have brought out shoes we would have never seen before. They are bringing in worn-down shoes with soles this big," he said, holding up two fingers to indicate a slim margin. "It's literally walking a thin line between repairing them and throwing them away."
Students are also becoming more aware, he said.
"There are instances where they can either pay $150 to replace a pair of shoes or $9 to fix them," Wood said.
It may be this mindset that is allowing his store, among others, to flourish; not all businesses are suffering amid a recession.
Like Dawson's Shoe Repair, pawn shops are reaping benefits from hard times. Pat McCollum, the manager of Family Pawn, said business is thriving despite the recession.
"We've built a pretty good business over the years," McCollum said. "More people are getting rid of stuff they don't need."
During recessions, people pawn their possessions more frequently. DVDs, video games and TVs are popular, but most pawn items such as gold. And because buying is also up, stores like Family Pawn have been able to keep prices constant.
"It's the same since the recession started," said Rachelle Lasater, who frequents pawn shops.
Jay Henderson, the assistant manager at Tiger Pawn, said he sees more customers struggling with loans.
"Repeat customers usually don't have a problem repaying loans," he said. "Lately, they're having more trouble."
If customers are having problems repaying their loans, that means trouble for the stores. Pawn shop owners consider their transactions loans. A customer trades an item for cash, and when the customer has the money again, he or she can buy back the item. Although pawn shops consider a customer's debt paid in full when he or she trades an item in, shops benefit more if that customer returns to buy back the item.
"People are also getting more desperate with what they're trying to trade in," Henderson said. "I had a guy who tried to bring in his (tracheal ring) from his tracheotomy."
Unlike small businesses that may be suffering from the economy, pawn shops and repair stores are able to stay positive, but Wood likes to think that it's more than a failing economy that brings customers to Dawson's Shoe Repair.
"We try to be personal, more on your level," Wood said. "We try to be in your shoes."