This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Behind the Scenes at a Small Biz: March Means 'Mega' Money

Card$mart licenses its name from Designer Greetings, which is also the vendor of the discount line of cards the store sells. Yet the partners are not franchisees in the sense that they do not pay franchise fees or royalties to Designer Greetings. Norman and Rothberg are required to carry the Designer Greetings 50%-off card line, but can also sell other items and cards of their choice. Designer Greetings has declined to disclose how many independent retailers license the Card$mart name.

Rothberg and Norman acquired the store, located in an upscale shopping center, through an asset purchase last June. Norman tends to deal with the books, while Rothberg sticks with ordering merchandise. They both share equal responsibility for working the register (along with several part-time staffers).

The asset purchase has caused the partners some grievances. But slowly they're figuring things out.

Dealing with the prior owner

Norman has been dealing with the prior owner over discrepancies regarding the value of some of the purchased assets, such as sample invitation booklets. She has been diligently researching the value of each booklet and found that most were not of any value, let alone the inflated value listed in her purchase contract. The prior owner has been slow to fork over the disputed money ($1,000), but as Norman persisted and threatened to take her to small claims court, last month she finally relented.

"It not a tremendous amount, but it was money that we should have not had to be responsible for. It was really about the principle," Norman says.

The small victory has given Norman courage and motivation to further comb through her agreement to ensure that the price they paid for other merchandise was indeed correct.

Eyeing opportunity

Another lift to March revenue came as a result of Norman's keen business sense -- and being in the right place at the right time.

Norman has been trying to rid the store of its Disney (DIS) figurines, which were another source of alleged inflated values left by the previous owner. The figurines have not been selling and Norman has been trying to figure out what to do with them before taking a loss.
2 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.02 -2.67%
FB $104.07 -5.81%
GOOG $683.57 -3.45%
TSLA $162.60 -7.26%
YHOO $27.97 -4.05%


Chart of I:DJI
DOW 16,204.97 -211.61 -1.29%
S&P 500 1,880.05 -35.40 -1.85%
NASDAQ 4,363.1440 -146.4150 -3.25%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs