Entrepreneurship, in a nutshell, is identifying an underserved part of the retail market and then supplying it with value in a product.
Simple-sounding, but a moving target as 80 percent of all entrepreneurs fail, according to Wichita entrepreneurship guru Fran Jabara. But not the Steven family at Spangles, whose growth continues to shatter company records.
Dale and Craig Steven’s idea has stood the test of time: Fresh, quality food at a below-market price. WAY below market if you’ve dropped $15 or more on lunch recently in Wichita.
The idea is blended adroitly with a heavy dose of marketing that – love it or hate it – keeps Spangles at the front of consumer minds.
At a time when retailers in all sectors – especially casual dining restaurants - are being pinched by out-of-control energy prices, only the strongest prosper. That strength in tough economic times is found in value, Jabara said.