Chapter 15: The Next Bright Idea

"Hi, Eddie. Hi Arnold. Good to see both of you again," I smiled in greeting as I walked into Eddie's office.

"Steve ... good to see you too," Eddie said while I shook hands with him and Arnold.

"I had a mini-vacation with Dory on Vancouver Island and we really enjoyed ourselves. I took her all the places I took my sister last summer and we saw most of the things she wanted to see."

"Good," Eddie said, nodding. Arnold was sitting with a smile and nodding agreement. He was never one to talk much without purpose.

"I wanted to let you know that Dory has applied to number of private schools looking for a teaching position. That's going to affect what I decide to do in the future since we are now officially engaged," I grinned.

"Congratulations, Steve," Arnold said immediately, rising to shake my hand. "I know this is what you wanted and was hoping for. So, being patient paid off, then."

"Yes, it did. You and my grandmother were the ones who understood and I'm really glad I listened to you. There's no doubt for either of us now."

"Very good, Steve," Eddie said enthusiastically. "You make Dory very happy. Good lady. Many children."

"That's the plan, Eddie. But, I didn't want to have you make some plans and then ruin them if they don't fit what happens with Dory's career path. We should know sometime in June. That's when the schools will have to make their hiring decision for the following year."

Eddie was nodding, but not saying anything.

"Will you be able to work at Coastwide for the summer, Steve?" Arnold asked.

"Yes, I'm sure I'll be able to. I may need a couple of days off to go with Dory if there is an out-of-town interview, but I don't expect that to interfere very much. We should have plenty of warning ahead of time."

Eddie continued to nod and Arnold said, "Good. That's a start and then we can see what happens from there. Do you want to hear about what we have in mind for the business?"

"Yes, I do," I said immediately.

"Well, the store in Caulfield is off the table. Too expensive per square foot. Too many restrictions. So, we are still looking around for opportunities both inside and outside the Greater Vancouver area. Nothing has shown up, so far."

"I have a question that's been in my mind for a while," I said. "Would you consider a partnership in a retail store? If I was able to raise the capital for an opportunity that we all agreed met with our guidelines, would you consider me being involved in ownership?"

The question had obviously caught them both by surprise.

"Where would you get the money, Steve," Arnold asked bluntly.

"My parents and grandmother, to be honest. I haven't approached them yet, but they have quite a bit of cash invested. When my grandfather died, he left them some valuable stocks that no one realized were worth hundreds of thousands of dollars. My grandparents' home in Victoria was on some very desirable land for development and that brought more money into the family. I think if we found the right opportunity, I could convince them to lend me the funds to be partners with you."

I watched the look on both Arnold and Eddie's faces and I wasn't seeing rejection, but I wasn't seeing immediate approval either.

"Why don't we think about it, Steve? I assume you would want to run the store yourself as owner-manager?"

"That would make sense, Arnold. I'm not trying to start a chain like Top Valu, but it would give me some security for the future. If you ever decided to get out of the retail grocery business, I would have the option to sell out to you or buy your share and make the business totally mine."

Arnold was nodding once again. He could understand my strategy. Eddie was still thinking and hadn't made any sign one way or another.

"Just so you know," I said, "Dory has applied to a new private school in the Comox Valley. I have my eye on a store in the vicinity that might be a good candidate for Top Valu foods. It's called Valley Farm Market, and it's located on Highway 19A, just north of Courtenay. You might want to look it over to see if it fits with what you are looking for. Of course, it would all depend on whether Dory got the position at the new school."

Arnold shrugged. "Who knows, Steve. We may want to buy it anyway if it's a good investment. Why don't you let Eddie and me think your proposition over, and perhaps you might discuss this idea with your parents to see if they would be interested. We don't know how much it would take to buy in, but I doubt it would be more than a quarter-million."

"I'll do that," I agreed. I was pretty sure they would give me a fair hearing on this, and I counted on the trust I had built with them over the years I had worked for them. It was an idea I hadn't shared with anyone else yet. It had been in the back of my mind when I found out how little Eddie had paid for the Vernon store and how little it took to bring it up to his high standards.

This called for a family meeting. I needed to talk to my parents and Nana about my thinking. I wanted to know if they would be interested in an unconventional investment with some of their money. Dory was at her home and Pam was off with Pete somewhere. It was the perfect opportunity to have the discussion. I waited until dinner was finished and the dishes were done.

"Can I call a family meeting?" I asked as I addressed the three of them.

"What about?" my father asked.

"About money," I answered as cryptically as possible.

"Okay, I guess," Dad said.

We were sitting in the kitchen as we almost always did when things needed to be discussed. Mom was pouring tea for Nana and herself while Dad and I decided to have a brandy. I didn't really love brandy, but since Dad was having one, I thought I'd join him.

"I wanted to talk to you about an investment," I began. "If the opportunity arose, I would like to enter into a partnership with Eddie and Arnold on buying another store. I would want a fifty-percent share with the option to buy out my partners if for any reason they decide to leave the business or dissolve the partnership.

"I know you have a number of conventional investments that you have bought for yourselves. I'm asking if you would be interested in investing in me if the right situation comes along."

"Have you talked to Dory about this, Steve?" my mother asked.

"No, I haven't. That's premature. I'd have to have an agreement with Eddie and Arnold first and a source of funds. That's why we're talking about this tonight."

"Is this risky?" my mother asked once more.

"Not really. Eddie's method has always been to buy medium sized stores at bargain prices and fix them up to be like his Top Valu stores. I got a real good look at how he did that in Vernon and I was amazed at how quickly it produced a good profit. In Vernon, I was the one who did most of the work, and I was just a college kid."

"Will they let you be a partner?" my father asked.

"I've discussed it with them and they will give me their answer in a few days. There's no rush and I don't want to make it look like it's important that I know right away."

It was quiet for a few moments at the table as I sat waiting for the next question.

"I think it sounds like a good idea," Nana said. "Steve knows the business and has already proven himself to the owners. I'm willing to invest."

I guess I should have expected that from her. She was a big supporter of mine, but she was no fool. She wasn't anxious to throw her money away on a long shot. Her approval gave me a big lift.

"Thank you, Nana. That means a lot."

I saw my mother glance at my father and give him some kind of sign that I couldn't interpret. Before things got too far, I spoke up.

"If you aren't sure or want to take some time to think it over, then don't make a decision now. There's more information to be dug out yet and more decisions that affect this plan. Where will Dory be working? Can we form a partnership with Eddie and Arnold? How much will the store cost and how much will the necessary renovations cost? None of those things are decided yet. So, take some time to think it over, please."

I saw my father nod immediately. He never was one to jump off the cliff without checking below, so I wasn't surprised. Nana's vote of confidence, however, would have an effect on my parents. In fact, it might put pressure on them to agree so that they wouldn't offend her. I hoped that wouldn't happen. I'd rather they chose what they thought best without any pressure.

I bided my time waiting to get both Nana and my father alone ... separately.

"Dad, I don't want you to be influenced in this decision. I can probably find the money to invest. Considering Eddie's track record and with interest rates as they are, I should be fine. Make the decision because it's something you believe in and not because of family pressure."

That was about as obscure as I could make it.

Dad smiled. "Don't worry. I think your grandmother would support you if you said you wanted to open a bungee jumping school. You've come a long way in a fairly short time, Steve. Your mother and I are very proud of you and your accomplishments. I can't think of any reason why I wouldn't want to support you in this venture, but I want to make sure your mother is on board."

I nodded. I was beginning to wonder if I hadn't made a mistake in not talking to Dory about this first. Nana could probably guide me on that.

"Nana, I wanted to thank you for your support on my plans. I really hope it comes to pass, but it will depend on several things, not the least of which is whether Dory gets that teaching position."

"I understand. Don't worry about it, Steve. I'll be very surprised if your mother and father don't want to support you as well. I know how proud they are of you and you already know how I feel about you ... and Dory," she smiled.

"It takes all the pressure off, Nana. With both families in agreement, we can plan our future without worrying. It's a great feeling."

"I'm sure it is. But when do you plan to tell Dory about your idea?"

"I'm thinking I should have talked to her first. I hope she's not upset that I didn't. I thought I needed to get some things organized first before I sprung it on her. Besides, it all depends on whether she gets the teaching position in Comox. If I talk about it now, it might put unnecessary pressure on her and could mess up her interview ... assuming she gets one."

"I understand your thinking. Why don't you do this?" she said after a moment's hesitation. "Why don't you discuss the idea in general, not specifically about the one school or one location? Just the idea."

I nodded immediately. That was the solution.

"You're really smart, you know," I said.

"Naw ... I'm just older and more experienced," she chuckled.

I took Dory down to Ambleside Park on Wednesday evening after dinner. We were strolling hand in hand and enjoying the warmer weather and beautiful vista out over English Bay. A half-dozen large freighters were at anchor while small boats moved in and out of False Creek. We found an unoccupied bench and I motioned for her to sit.

"Dory, I wanted to talk to you about something that's been on my mind for a while. It involves our future and I want to know how you feel about an idea I have been considering."

She didn't say anything but the look on her face told me she knew this was a serious matter.

"I've been thinking about forming a partnership with Eddie and Arnold to buy a store ... much like the one in Vernon. I can probably borrow the money from my family as an investment and I would have fifty-percent ownership in the operation. Of course, it will depend on where you end up teaching and what might be available in that area. What do you think?"