A Conversation With ... Meghan Stack

Staxx Apparel opened in March 2004 at 331 South Ave. We have eight employees. I’m here full time, and my sister-in-law, Annie Stack, is also full time. The rest are part-time employees. Our target customer is different for men and women, but … our main customer is between 15 and 45 years old for both. We sell clothing, shoes and accessories. We do more shoe business on the women’s side. Denim is something that we specialize in.

What have been some challenges you’ve faced?

Definitely, to get out there and (get) that awareness has been really important for us. A lot of people … still might not know what the store is, so it’s important.

What has been the most surprising thing you’ve learned as a business owner?

Grasping the relationship between margins and inventory turns. Because you want to make your margins and meet your turns, and I think that’s important to know. What is hard is, once I understand it, to try and portray it to all of my employees. That keeps the flow of the business consistent if we can meet those two marks. If you can get that down … it helps you in so many ways. Not to mention with your financials, but it also helps you review the floor and the product on the floor and seeing … where our margins are at, how many markdowns we’ve taken, and in what departments. Things like that.

Since this business has opened, I’ll definitely say I grew up a lot faster than I ever thought I would, but in the long run, it is worth it, because I’m fulfilling a dream.

Is there anything you would do differently if you could start over again?

I would have loved to grasp the relationship between margins and turns sooner. I’m still learning … I’ve grasped the concept, but it’s a struggle every day to keep things consistent, so I’d probably try to learn more of the business side sooner. The most surprising thing is that (Staxx) never gets tired. That’s what keeps me going. I love the people. My number one concern is meeting people and trying to fit their needs in all the ways that I can.

Do you still enjoy being downtown?

Yes. I wouldn’t want to be anywhere else. This is where Staxx should be, and I’ve never wished I was anywhere else. I’m glad to be here. I believe in downtown and stand firm by it and support it in all the ways that I can, because I know that it will succeed. It’s just a matter of time, and finding it right in the economy, and doing it right with the things that need to be down here to make it happen.

What plans for expansion do you have?

We haven’t gone online to sell, but we’re actually in the process of working on that. We’ll be launching that probably within the next year. We have big goals and dreams for Staxx. We’re just crossing the T’s and dotting the I’s for right now. I think within a year or two … you’ll see growth or internal things such as the Web site. I have a friend who owns a store in Little Rock, Arkansas, and we’ve been … talking about doing our own (clothing) line. We want to do it right if we’re going to do it.

Tell us about the rest of your family, in addition to your parents, Jack and Betsy Stack.

I’m the middle child of five. My older brother’s Ryan, then there’s Katie, me, my brother Tim and Kylie. Our family is very close and we have a lot of family friends that we’ve grown up with.

Your dad’s a well-known businessman. Does that mean he’s given you a lot of advice?

It’s interesting. A lot of people … what they don’t understand is that he’s my dad, and at the end of the day, he’s still my dad. And although he is a very intelligent man in the business world, I don’t always think to look to him (for advice) because he’s my father. I don’t use him as much as people think that I do, but when I do, I definitely profit from his intelligence. But it’s different for him because (Staxx) is a different type of business.

What do you do for fun?

On my down time, I love to hang out with my family and my friends. That’s what keeps me grounded, and keeps me refreshed. I’m also trying to plan a wedding, so this year’s been a little crazy. My fiancé is Neil Chambers.