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Opportunity motivates home-based business to buy commercial building

July 3, 2011
BY MIKE DONAHEY - Staff Writer (mdonahey@timesrepublican.com) , Times-Republican

Only the business name is whimsical.

But when it comes to taking care of business Steve and Paula Sprague of Marshalltown are serious, which explains why they were working on a building remodeling project on the hottest day of the year last Friday.

The Sprague's are owner-operators of Marshalltown's Lost and Finned fish (fresh and saltwater) and supply store, which they currently operate out of their home at 605 W. Lincoln Way.

The remodeling project and soon-to-be new location is the former Alley Silkscreen property at 802 S. Third Ave.

Their motivation is directed by two issues.

Home was simply not large enough to expand the business and in their opinion, Marshalltown lacks a "true" pet store.

"Most other stores in Marshalltown and Central Iowa carry only a limited supply of what we propose to carry," said Steve Sprague. "We saw a real opportunity to grow our business and decided to go for it."

Paula elaborated.

"One store has a limited selection of pet supplies and only a few fish tanks," she said. "Another store has a selection of small animals and fish, but do not carry saltwater fish or the supplies for saltwater fish. An out-of-town business specializes in fish but does not carry small animals. The nearest "pet shop" that carries the items we are going to stock is also out of town."

Their plan - expand inventory to include all pet supplies and sell small animals - such as gerbils, lizards and rabbits.

Additionally, a pet care and grooming business will be offered by Velvet Touch Pet Grooming, managed by veteran groomer Barbie Shibe.

The Spragues goal is to open Aug. 1.

They will work to make the opening date a reality despite the temperature.

"I think we will make it, said Steve Sprague.

Once opened it will be open seven days a week with expanded hours said Paula Sprague.

"And for our customer's convenience, we are members of Team National, which provides discounts to some credit card users and we'll carry that over to our new location," she said. "Other Marshalltown businesses are Team National members too."

The couple is not new to the fish business.

It was late 2007 when the Spragues decided to go on their own.

"We have had fish and bred them since then," wrote Paula Sprague in an email recently. "We sold them at area fish swaps and fish auctions and to other hobbyists. The more tanks we acquired the more supplies we needed and we were unable to get the things that we needed here in Marshalltown."

2008 proved to be a watershed year.

"In mid-2008 we decided we would open a fish store," wrote Paula Sprague. "To keep costs down we converted a room in the back of the house into the 'store' we tugged along getting racks set up and trying to find wholesalers that would supply a business in a residential zoned area."

After three years of business the Spragues realized that a regular commercial building was seriously needed. They looked about town and decided on the former Alley Silkscreen property as it provided high visibility and plenty of parking.

"It seemed to be a good fit," Steve Sprague said.

Remodeling work began more than 10 days ago.

They recently moved in fish tanks and plan to have them stocked soon.

While both are working at the new location customers who visit their home will receive service.

They are directed to telephone one of the Spragues, who will interrupt their work to take care of business.

While the business expansion and lack of a true pet shop primarily motivated the couple to make the move from home-based to a traditional location, Steve Sprague offered another reason.

"Since I've been 16 I've worked two or three jobs for other people," he said. "Now I want to work for myself."

Paula Sprague summed up their intentions.

"We will do our best to provide Marshalltown pet owners with what they need and want," she said.

Business hours at their home are Tuesday through Friday, 5 p.m. to 9 p.m. and Saturday 9 a.m. to 4 p.m. Telephone Paula at 641-751-8598, Steve at 641-691-8928 or lostandfinned@yahoo.com and lostandfinned.com

 
 

 

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Article Photos

T-R PHOTO BY MIKE DONAHEY
Steve and Paula Sprague of Marshalltown’s Lost and Finned are shown Friday morning by a fish tank which they recently moved into their soon-to-be new location at 802 S. Third Ave. The Sprague’s currently operate a fish and supply business from their home at 605 W. Lincoln Way. They estimate an Aug. 1 opening date at a building which formerly housed Alley Silkscreen.