Alright – so today we’ve got the honor of introducing you to Nancy Mclean. We think you’ll enjoy our conversation, we’ve shared it below.

Nancy, looking forward to hearing all of your stories today. What was it like going from idea to execution? Can you share some of the backstory and some of the major steps or milestones?

My business partner, Nadine Wolfe and I decided in August of 2015 to open an Upscale Consignment store. We opened Olde Town Exchange 2 months later in Olde Town Arvada on November 1, 2015.

It was a crazy 2 months as we started with nothing but an idea. In that 2 month time frame, we put together a business plan, did research to confirm our idea was viable, secured a location, filed for all necessary business paperwork, created our name, set up the structure of the business (which we still use today), decorated the store, which is also still in play. We each put in an initial investment of $7,000. The rest was long hours, a lot of garage sales, building displays, finding inventory and grit!

Nancy, love having you share your insights with us. Before we ask you more questions, maybe you can take a moment to introduce yourself to our readers who might have missed our earlier conversations?

We both love a deal and bargain shopping. So, after raising our kids, and they were moving on from High School, we were looking for something to do!

We had a couple of garage sales and were trying to sell some luxury items. People were low balling us, and Nadine suggested we try selling them at a consignment store. After we left our items at the consignment store, we both thought, we could do this and better!

Nadine had a background in Sales/Customer Service and I had a background in Business to Business Sales/Marketing.

Our vision was to create a Women’s Consignment Boutique that catered to a discerning, fashion forward shopper. We offer designer/luxury brands for less in an intimate stress free and clean store. We strive to have our inventory feel like it is new. Often times it is. Our boutique is easy to shop, we promote sustainable best practices and our pricing is designed to give a customer an exceptional value.

Our products include Women’s clothing, jewelry, handbags, shoes and accessories. We start with a mid range brand like Anthropologie and work into luxury brands like Louis Vuitton.

The thing we are most proud of, are the friends and people we have met and how loyal our customer base is. We truly want our customers to be pleased with not only their purchase, but their experience as well.

Let’s talk about resilience next – do you have a story you can share with us?

When we started the business 10 years ago, it was a hobby, something to do. Due to unforeseen circumstances, we have had to move the business twice. The first move wasn’t so bad. We were located in Olde Town Arvada and we moved from one end of town to the other end of town. However, the second move was a lot more intense.

First, we moved out of Olde Town Arvada to the City border of Westminster/Arvada, about 20 minutes north of our old location. Second, we doubled our space, hence expenses also doubled and Third, we were moving in a new era of the internet and Google.

Basically, it was starting over again and we had to adapt to the new business environment. We needed to level up our business plan and implement or we were going out of business. Our hobby now had consequences.

It has been a two year process to get back to a more profitable place. We reached out to new people and their expertise and worked a lot of long hours. With that said, it is super rewarding when you see the results of your hard work.

Any stories or insights that might help us understand how you’ve built such a strong reputation?

We take our relationship with our customers as the most important thing we do.

First, we strive to have the best, clean current products on our floor.
Second, we try to have a dialogue with each of our customers, new or returning.
Third, if we make a mistake, we fix it

Contact Info:

• Website: https://www.oldetownexchange.com
• Instagram: https://oldetownexchange.com/resources/templates/location.php

Image Credits

All photos taken by:
Nancy Felix McLean
Olde Town Exchange