Marshalltown, IA: Company Chronicles
Learn from a local entrepreneur why Marshalltown is the perfect place to start a business.
Iowa houses quite the gem. Found in the central portion of the state, Marshalltown shines bright as a city that not only offers a low cost of living and a slew of entertainment options, but also provides a sturdy foundation for those looking to start a business. Here, entrepreneurial resources and opportunities abound, giving those with an idea a leg up.
Rhetta Schmitt was born and raised in Marshalltown, attended college at Iowa State University in Ames and then returned home, where she who opened State Street Trading Co., a consignment shop, in 2018.
What made you want to open your business in Marshalltown?
My grandpa had a bunch of businesses in Marshalltown when he was alive, and he actually built the building that I’m in now, so it was just kind of special to open a business here with his legacy of being a business owner in town.
How has your business grown since you opened?
We started out with zero consignors, and now, we have over 800 consignors (in our system). I do have a couple part-time employees now who live in the area. When we started out, we just did women’s clothing. Now, we also do formalwear, like prom and homecoming dresses. We do luxury consignment, too, and we started doing tux rentals a few years ago when our other tuxedo shop in town closed.
How would you describe the business scene in Marshalltown?
What we have that is really special is that it’s more of a team rooting you on than it is people wanting to see you fail. [Other business owners] are always the first to comment on some new thing I post or some accomplishment that we have and congratulate me. Actually, some of my best friends that I have now are other local business owners, which I think is pretty cool.
What resources are available for entrepreneurs in the area?
I try to be involved in both the Marshalltown Area Chamber of Commerce and the Marshalltown Central Business District (MCBD). Honestly, they come to me with different opportunities and resources, like they’ll send out emails weekly with different things that business owners can apply for or look into, or trainings.
What is one piece of advice that you would offer entrepreneurs opening a business?
The best thing that I can think of is get involved – join the chamber, go to the events, join the MCBD, volunteer – because our community and our community of small-business owners is a fantastic thing to be a part of, and it really helps you out on the hard days and the good days.
Get to Know Marshalltown, IA
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