Gina Schaefer's Recovery Hardware: Culture, Values, and Doing the Unexpected

Julie's Big Gorgeous Goals: Official Workbook is here! Order your copy today.From hiring previously incarcerated folks and those in addiction recovery to implementing an Employee Stock Ownership Plan (ESOP), Gina Schaefer's story of entrepreneurship demonstrates what it can look like to understand and support the community you serve.When Gina moved into a forlorn neighborhood that needed a hardware store, she built one. When she thought the recovery community needed businesses to believe in them, she became one, and when she suggested that inequality could be helped with business ownership, she began selling hers to her team.Gina Schaefer is the Founder and Co-Owner of 13 hardware stores located in Washington, D.C., Baltimore, MD, and their suburbs. She and her team of 300 have helped millions of customers shop right where they live, in their urban communities, despite continuous pressure from bigger, stronger competitors.In her book, Recovery Hardware, Gina chronicles her experiences building a business while learning from non-traditional teachers like folks from the recovery community and returning citizens. She serves as an advocate and spokesperson for causes directly related to raising wages, anti-monopoly legislation and small business development.Gina serves as board chair for the Institute for Local Self-Reliance and is a member of CCA Global Partners’ Board of Directors. She spent 9 years on the corporate board of Ace Hardware and 12 with the House of Ruth. Gina’s guiding principle comes from a treasured quote “I always wondered when somebody would do something about that. Then I realized I was somebody”. Join Julie and Gina for a masterclass in resilience, adaptability, and community-centric business strategies.Identifying a Market Need and the Challenges of Business Growth (00:01:18)Gina's motivation for starting a hardware store, her role in supporting the recovery community, and the challenges of being a woman in the hardware store industry and having locations not succeed.The First Hardware Store (00:04:20)The process of bringing the idea of a hardware store to fruition, merchandising in a small store, and adapting to neighborhood needs..Scaling and Process Efficiency (00:12:00)The process of opening new stores and the learning curve in optimizing operations with each new location, as well as maintaining focus while expanding the business.Empowering store managers and ESOP structure (00:17:59)Empowering store managers to act as owners and the process and benefits of ESOP.Empathy and Inclusivity in Hiring (00:26:06)Gina shares her approach to hiring individuals with diverse backgrounds and experiences.Philanthropy and Impact Investing (00:36:09)Gina explores her philanthropic efforts, impact investing initiatives, and her role in supporting causes and young entrepreneurs.Management lessons (00:37:49)Gina reflects on not asking enough questions about HR and finance, and her desire to help others avoid similar mistakes.You can connect with Gina on her website, LinkedIn and Instagram.Love the show or want to request a topic? Leave us a message (All submissions are anonymous, so if you'd like a reply, please include your email address!).You can connect with Julie on LinkedIn or Instagram. Find Julie's writing at her blog or by ordering her book Big Gorgeous Goals and the brand new official companion workbook! What did you think of this conversation? We'd love if you'd rate or review our show!