Amid the hectic day-to-day life of a store, it’s easy to lose sight of the future. The days flow into weeks, the months into years, and the years into decades.
In this issue, you’ll see the lifecycle of hobby store possibilities.
Our new columnist, Terry Kelm, will be contributing “Game Plan” on a quarterly basis. He’s an experienced business broker who helps people sell and buy businesses. In his article, he talks about the process of selling a hobby business when the time is right.
In Industry News, we take a moment to honor Ray Miller, a store owner who passed away at the age of 67. He and his brother owned five HobbyTown stores, including one in South Point, Ohio, that I shopped at when I lived near there.
We have also featured stores that are starting or expanding, adding vitality to the industry through their owners’ passion and drive. Stores have changed hands as well, keeping their doors open under new ownership. We tend not to cover store closings, but there have been several in the last year or so.
Perhaps it’s the time of year, or the fact that I’ve seen the years turn into decades as I’m now solidly in my 60s, but the phrase that comes to mind with these developments is “exit strategy.”
Every store has an exit strategy, whether you have planned it or not. Perhaps you’re planning on selling the store. Or passing it on to a family member. Not to be too maudlin, but time comes for us all.
For your family’s sake, have a good estate plan that outlines what happens to the business. Even with the best estate plan, it can be overwhelming for the executor and family. My dad had everything set up properly, and it was still a daunting challenge.
Whether you opened your store decades ago or just cut the ribbon last year, every independent retailer shares the same goal: to create something lasting. The measure of success isn’t only in the sales numbers or square footage but in the relationships nurtured—among customers, communities, and the next generation of enthusiasts who walk through your door. That legacy, built on passion and persistence, is what gives our industry its heart.
Thinking about the future is not about preparing for an ending—it’s part of the business lifecycle. The same planning and foresight that help stores thrive day to day also ensure a smooth transition when the time comes. Whether passing the torch to family, a trusted employee, or another entrepreneur, those decisions shape the future of the trade. In the end, success in this business isn’t just measured in profit or longevity—it’s in leaving something enduring for the next builder, flyer, racer, or dreamer to carry forward.