Sound Off: Mattress Mack
I recently had a chance to meet Jim "Mattress Mack" McIngvale for the first time, and I'm fascinated with the business he's built, as I discuss in my column today.
McIngvale is probably best known for his commercials, but he's built Gallery Furniture from nothing into one of the biggest furniture retailers in the country. More surprisingly, though, he's done it with one location and no debt. What do you think of McIngvale's approach? Should he expand to other locations, or stick with what so obviously works?
Please discuss.
Comments
When we moved from Houston five years ago, we didn't realize how much we would miss Gallery Furniture and "immediate delivery". We began shopping there when the store was spread through several old model homes, but we always had fun, and had nice
furniture delivered a few hours later. Mack would greet us and thank us for our business, and the one time we had a problem with a purchase he intervened and made it right. We regarded a trip to Gallery as something like a trip to Disneyland. Way to go Mack!!!
I don't know that expansion would work in his case. I have also met (very briefly) Mr. McIngvale, and he seems to be a very "hands-on" type of manager. (He's also very high-energy, to the point of seeming to be almost hyperactive.) Anyway, given his personal work style, I am not sure that multiple locations would be good for him - Gallery Furniture, if it were not for him, really would be just another run of the mill furniture store. If he had multiple locations, all would suffer as
he would not be able to be in both locations all the time. Unless, you could clone him. Mr. McIngvaale, anyone?
The guy is a genius. As a kid, I always wondered why he was pitching furniture during cartoon time on weekdays. Now I know, because he's brainwashed a whole generation with his store, his address, and his phone number (all of which I can quote). If he
wants to keep his eggs in one basket, I'm fine with that.
Gallery may "like any business" have some unhappy customers -- but I suspect there are a lot more unhappy employees. This may be one reason that Gallery Furniture isn't written about more often. It would be unseemly to chance tarnishing the
reputation of such a generous donor to charity (especially one who spends so much on advertising...). Just an offhand first person story. After having lived in Houston for over 30 years, and having seen Mattress Mack on television hundreds of time, after having seen him develop relationships with basketball franchises and ex-presidents, my wife and I
finally decided to check out Gallery furniture earlier this year. First we called to ask about an item advertised. And I was thunderstruck and flabbergasted to have Mattress Mack answer the phone on the first ring and handle my questions on the spot. Now that is personal attention.
I have lived in Houston since 1984 when McIngvale was selling at his 'refugee village' store-same location. I bought my first furniture at that store sofa love seat and a free coffee table from Mac himself. When i raved to my friends about Mac I was
surprised at the reponse. Long time Houston and Dallas residents will tell a different story about Mac. Bankruptcy, businesses not performing, people left without furniture or product and without their money. He may be doing it right now, 'must have learned from his mistakes. He has a past that
never gets mentioned and predates the www so you cannot find it by doing a Google search ten minutes before you write your gushing article. I have also had the pleasure of listening to Mac's grasp of the more colorful words in our language none of which i can use here, in the front of his store in front of his customers and my then 8 year old son apparantly berating a supplier or vendor. Everyone has a preferred image of themselves the
trick is to convince everyone else to believe it. I was under the impression he did open a store in Dallas I remember the media ads I guess he closed it.
If Mattress Mack is this "hands on" and it works for him to the tune of $100 million a year then he might not expect to be successful changing his business model. Actually, there are lots of medium scale operations that are not suitable to
expand. Such owners generally start playing with real estate investments that become their growth opportunites (and tax shelters) while the older businesses sit there profitable and throwing off free cash. I would just about bet that old Matress Mack has some ranchland, a cow-calf operation and maybe a feedlot.
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