Young couple purchase Pembina grocery store
by Susanne Retka Schill Posted on 3/1/2007
Small towns often loose their grocery stores when the older generation retires, but not Pembina, population 650. Kevin and Deanna Hager became business owners at the end of 2005 when they purchased the store, renaming it D & K Grocery.
Neither had worked in a grocery store before. When they learned the store was for sale, the Hagers were interested. "My parents had a business in town years ago," said Deanna. "They brought it up." They also suggested the couple contact the Red River Regional Council and SBDC.
Dawn Keeley and Donovan Wadholmn, SBDC consultants, assisted with the business plan development, financial projections and financial packaging.
"We wouldn't have been able to do it without their help. It's not like buying a house," Kevin said. "They helped us every step of the way. Donovan had the materials and outline. We'd jot down what we were were thinking and he put it together."
"I don't think our jaws came together the entire time Dawn was talking," Deanna said, recalling their first meeting with Keeley.
The financial package that helped the Hagers buy the store involved owner equity, Small Business Administration, Red River Regional Council and Citizens State Bank Midwest.
"Kevin and Deanna have done a wonderful job with their store purchase," bank loan officer Angie Stockton said. "A high quality grocery store is an intricate part of any small community. We are lucky to have them."
Kevin worked a month with the previous owner, and has learned from long time staff, who all stayed to work with the new owners. He works full time in the store while Deanna kept her job with one of Pembina's custom brokerage firms.
With the first year under their belt, they are pleased with the business. "The people really support their local store," said Kevin. Not only the people in Pembina, but from the surrounding area and small towns like Neche, Humbolt, Minn., and Bathgate.
Looking ahead they hope to remodel the outside and expand at some point.
