From 1959 to the LATE 80′s I owned and operate some small businesses. Some businesses produced healthy profits, while some did not do so well.
SMITH PHARMACY 2518 14TH STREET,N.W. WASHINGTON,D.C.
I LEFT DISTRICT WHOLESALE DRUG 52 O STREET,N.W. WHERE I HAD WORKED FROM 1950 TO 1959, TO PURCHASE SMITH PHARMACY
A “lending institution that assisted buyers of small businesses, that are not
operating today were the Ice Cream Companies. I was able to assume a loan
that the previous seller owned the Borden Ice Cream Company in the amount of approximately $5600 if I agreed to purchase all my ice cream
from their company. My brother Phil loaned me some money, and with a
small savings amount, I was able to purchase Smith Pharmacy.
I worked long hours and made a good living from the date of purchase until
April 4, 1968, at which time Doctor King’s assassination triggered the D.C.
68 riot, at which time my drug store was burned down.
NEWS SPOT 1
After working for another drug wholesaler, Drug Exchange, I purchased a
news stand, a 1828 L Street,N.W., around 1970, that sold magazines,newspapers, cold drinks, snacks, ice cream, health and beauty aids, ladies hose, pocketnovels,sandwiches, and pastry..
Around 1973, I acquired, another news stand, Marbi’s 1730 Rhode Island Avenue from an estate,after the previous owner had passed away.As previously mentioned the landlord did not permit me to sell soda because he was worried that my sales would reduce the soda sales of a building
cafeteria. However, we were permitted to sell beer and wine.
After changing the name of Marbi’s to Stevensherry, I sold this news stand,
and opened Newspot 2 on 20th Street, N.W. between K and L Street,N.W.
Some time later, space in a Alexandria, Virginia building for another news
stand was available, which I rented around Washington and Duke.
The last news stand I opened was at 1910 K Street, N.W. I was able to
sell this business, but unfortunately the buyer neglected the proper operation and had to vacate the premises.
I sold my existing news stands when an opportunity to purchase a larger business, arose—an approximate 1800 square foot gift shop in an Holiday
Day Inn hotel, that sold gifts, and many drug store health and beauty aids.
This gift shop was purchased in 1978. After a short period of time, I also
became an agent for Western Union, sending and receiving money transfers.
When the Atlantic City began to open gambling casinos, I had the
opportunity to sell Bus tickets to some of the Atlantic City casinos.
This business did well, and after 7 years .I decided to take a break, and sold
the shop in 1985.
I will continue this history on my next post.
When I operated my drug store, most customers called the owners and pharmacists “DOC”, probably because many customers needing advice about
which medications to purchase for colds, coughs, stomach problems etc.