Schmitz Lumber Company: Saving a community favorite

Luke and Elaine Schmitz saved a local favorite in the community from closing when they took over ownership of J&M Building Supply in Highland, Wisconsin, in 2022.

THE ORIGINS

The business originally started nearly 100 years ago in this small town with a population of about 800. Luke knew the owners quite well and knew they had been trying to sell for a couple years. He also suspected his own background in the industry and his knowledge of the community would be a good fit for running this business, and he didn’t want to see it close. Luke began his research and began to see the business as a good opportunity for himself and well as for his daughters in the future. He would love to keep this “mom and pop shop” in the family.

He started his search with the Iowa County Economic Development group, who then referred him to the Small Business Development Center (SBDC) for help. “Kristi Smith at the SBDC was integral! She was a huge part of the business purchase transaction as she helped me understand the value of the current business, especially in comparison to other business opportunities. She assisted with my financial projections and she coached me through the business plan I had drafted. She also advised me on marketing strategies to use going forward,” Luke said.  

This small business owner also received help from Rogette Koby at Byline Bank. The excitement in Luke’s voice was apparent. “The lender was outstanding and super knowledgeable. The bank saw a match between myself and the business and knew this loan needed to happen. I was so happy they helped me obtain an SBA 7a loan.”

THE FOCUS

Personal attention and customer focus have always a big part of the company and Luke intends to keep it that way, even when he renames the business Schmitz Lumber Company in the future. He loves to help customers with plans and layouts of their projects, even going to the lengths of drawing ideas out on graph paper for folks who come to the store looking for assistance. He also has kept the focus on high quality materials available at the store.

The community is thrilled the business is still open. “It is very humbling when customers personally thank me for taking over this business that is so important to the local economy,” Luke said. “I get lots of support from other local business owners as well. I wanted to keep the quality customer service for the people in the community as well as add new services.” He hopes to add a full-time employee in the future to assist with new yard services and he is working on creating an online presence.

Luke’s advice to other budding entrepreneurs is, “There are so many resources out there and so many people willing to help. Believe in yourself and know that it is right for you.”