Michael and Mary Ruth Hanna
Michael and Mary Ruth Hanna are entrepreneurs. They have ventures in real estate and currently have a successful mattress business.
Real Estate
You have to be willing to get down and dirty. The best opportunities are houses that most people might not be willing to take on.
Be cautious. You need to discover towns or neighborhoods that haven’t been fully discovered or find smaller towns where the real estate hasn’t fully come back yet.
They bought the building where the mattress business is located; this is long term investment for them.
Mattress Business
Got the first load of mattresses Nov 2009 and started looking for a place that they could rent on a temporary basis. Set up and opened their doors January 2, 2010.
Important factors were pricing, location, and initial costs. Customer service is very important to run a successful business.
Started working with local manufacturers and that became their hallmark as they live in an area where buying local is important; people in their area tend to steer away from big brand names.
Portland, Oregon sells 140 million dollars a year in mattresses. They only need a tiny percentage to make a living.
Try to have no debt on the business. Avoid living off credit; pay as you go.
Don´t overspend on things you don´t need to.
Live within your means.
Expect to work hard the first couple of years.
Ensure you can trust the employees you are hiring, try to treat them as well as possible, it pays off in the end. Attract the best; keep the best!
Michael and Mary Ruth Hanna, long-time Eastside Portlanders, founded The Mattress Lot in late 2009. We wanted to go into business for ourselves and deliver high quality products to our neighbors and community. We shopped for mattresses and quickly became frustrated by high prices, high pressure sales pitches, and lack of customer service.
We’ve developed partnerships with local mattress manufacturers, which means we can provide our customers with truly high quality mattresses for every budget. We do not have commissioned sales people, which means your shopping experience will be relaxing, fun, and more economical for you.
Contact Information
Website: www.mattresslot.com
Email: buylocal@mattresslot.com
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