Thursday, Oct. 22, 2009
Dennis Reed: Steelers strong and business savvy
Photo by Scott Smallin
Dennis Reed at his business in Myrtle Beach
Dennis Reed, 44, was transplanted to the Grand Strand from Pittsburgh, Pa., in 1986 when he arrived here to attend Coastal Carolina University. At that time, the school was still under the umbrella of the University of South Carolina, and Reed was pursuing a BA in politics and computer science, which he achieved in 1993. Like many area college students, the restaurant industry was a logical choice for employment, and he took on as many aspects of that business as opportunities allowed.
"I worked for a several different operations here, including mom-and-pop restaurants and chains," he says. "Over the years I kind of migrated up to general manager, traveling general manager and then troubleshooting general manager." Everywhere in his travels, he found at least one Steelers bar. "I actually started a Steelers fan club in Tennessee at one point," he asserts, "and I found those bars everywhere, from Columbus, Ohio, to Florida - it didn't matter. It's a good thing when you're a Steelers fan." He opened several units for an Italian concept called Buca di Beppo and later for a sports bar undertaking called Fox & Hound Pub & Grille. But ultimately, after 17 years spent in so many capacities in the business, he had reached a certain level of saturation and was ready for a change.
"Basically I wanted to work for myself," says Reed. "A very good friend of mine was involved in the mattress business, and that's how I got interested." Three years ago, his friend started out with a 500-square-foot warehouse in North Charleston, a liquidation concept utilizing a low overhead and by-appointment business model. The idea appealed to Reed, and he followed suit, opening a 1200-square-foot warehouse shortly after Thanksgiving in 2006. "Over the last three years, I've gone to a 4000-square-foot unit. A whole lot of like-minded friends have joined the fold, and we're covering most of the major cities in the Carolinas, a little bit of Florida, Georgia and as far north as Michigan and Pennsylvania." Reed's outfit is called Seaboard Bedding and Furniture Liquidation (www.seaboardbedding.com), and is part of a group of 20 independently owned operations under the name Atlantic Bedding and Furniture. "I was the second one and came up with my own name at that time," he says.
Early on, Reed worked a regular job and operated his fledgling business on lunch breaks, late afternoons - evenings and weekends. "It's done by appointment only, which allows us to have one-on-one contact with clients." Because the group is growing, Reed enjoys greater buying power and can continue to pass significant savings to those in the market for bedding and furniture.
Reed likes to say that he is just a guy clearing out stuff. "That's the truth, and that's the way I approach people. It's very non-threatening." In the beginning, this "stuff" was mattresses. "Now it's bedroom, living room, dining room - I just got a call where we're going to furnish a three bedroom house at a fraction of the cost of the major furniture stores, because we come in at from 50-80 percent of what those do."
These savings are possible because of the business model itself. "We pretty much strip all overhead - operating out of a warehouse. We use viral networking through Facebook, which will lower costs." Reed does a little bit of classified print advertising or hits up free sites like Craigslist. "The optimum goal is reducing overhead to the absolute minimum so that the savings get passed on to the consumer."
His first experience buying a car was so stressful that Reed walked away. "The pressure was just intense," he confides. "When most people know they are going to buy a big-ticket item, there is pressure involved. I run my operation so that they don't feel that."
Business aside, Reed enjoys pier fishing and says he gets to the beach when he can, but he recently purchased a 2003 Harley Davidson 100th Anniversary Sportster and rides every Sunday, weather permitting. "I'm usually down in Murrells Inlet because it's so pretty down there," he says. "I have a dear friend there that will go riding with me. It's a good way to see the area and to get away from work for a while." He is a big fan of local music and all the Marshwalk has to offer.
Reed can also be found spreading Steelers love up and down the Grand Strand at Pittsburgh-backing spots such as Murphy's Law or the Boathouse. "Each week I'll see a game at a different place." For perspective he'll drop into Drifters, a Cleveland Browns bar, to catch a Pittsburgh/Cleveland Game. "It's fun - and all about meeting different people."
Reed plans on calling Myrtle Beach home for quite some time. "I love Myrtle Beach, and my business is growing to where I think I can really carve out a good thing for myself here."