We’re excited to introduce you to the always interesting and insightful Nancy Scott. We hope you’ll enjoy our conversation with Nancy below.

Nancy, appreciate you joining us today. Are you happier as a business owner? Do you sometimes think about what it would be like to just have a regular job?

I am happy to be the owner of Z Fabrique and can be of service to so many, our community, and everyone else who comes in whenever they come back to Long Beach. I am humbled and heart warmed that Z Fabrique has become a space for more than just buying beautiful and unique things. It is a place for creating sacred spaces in the mind, body, and home. Some of my regulars talk about being a part of the Z Fabrique community and the friends and family that they have found through Z Fabrique. I cannot express in words what that means to me. Being a business owner is the right choice for me, but it is not easy. Owning a small business means working all the time. When I am not working in the store with clients, I am pricing, reordering stock, working with vendors, my landlord, thinking about the business, paying taxes, etc. It is a 24/7 job and regardless of what happens, I must pay rent, insurance, utilities, etc… If I am sick, or if I want to take a vacation, I must close my doors and lose income for every day I am closed. The other option is to ask my staff to work on their days off, which doesn’t always work. Either way, I essentially must pay someone if I am sick or want to go on vacation. Most of my friends get paid vacation and sick time. It is hard for them to understand that if I want to take a vacation, it costs me more to go than them, on top of the trip costs, it costs me rent and lost income.
I must admit that sometimes I do wonder what it would have been like if I had stayed working for the United States Forest Service rather than opening my store. I would have been able to retire by now. I would love to be able to have the option of retirement.

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?

Z Fabrique has been a bricks and mortar store in Long Beach since 1990. But, before I opened that first store in Retro Row in Long Beach, CA, I started out of my parent’s garage years before. And that came out of insights and inspirations when I was traveling around the world. I experienced people and places and cultures that I knew that so many folks could not. I saw and was able to buy beautiful things from artisans and craftspeople that were made in their villages in their part of the world – carvings, jewelry, iconography, and other important and sacred things. I wanted to bring it back home for folks to have and enjoy. It was so enjoyable to watch my customers make “finds”, things that they had never seen before with stories that connected them to the piece. I moved to Belmont Shore, Long Beach, CA, in 1992, just after the LA Riots that tore through Retro Row. And while some of my merchandise choices have changed as times have changed, that initial spirit of inspiration continues to today. When I buy metaphysical stones, I am most often buying them from the folks who have sourced them from the earth. I learn about them and their story, the months of living under the stars in the Yukon, or Mexican desert, or Afghanistan, or wherever. I bring all of that thought and energy back to our brick-and-mortar store for our customers -so many of whom I think of as friends.
I thought that Covid would be the reason I stopped “doing my thing.” I love what I do and the adage of, if you love what you do you will never work a day in your life, pertains to me. I feel blessed. Living in Southern California with incredible diversity is beautiful. I get to see and feel the wonderful energy of So. Cal. every time I am in my store. People trying to help themselves, family members & friends. Customers becoming friends. Friends becoming family. I watch perfect strangers come together in my store, connect, and become friends. The energy and light that brighten the world. Six-degrees-of-separation no longer exists. We are all connected.

Are there any books, videos or other content that you feel have meaningfully impacted your thinking?

I have been an avid reader my whole life. There are a lot of folks that have a lot to say and have been a guide. I have always trusted my instincts, Z Fabrique, came to be rather organically and has grown through love, sweat, sacrifice, tears, and lots of community. I saw a need, I wanted to share with others some of what I experienced in my travels. I have found the SBDC (Small Business Development Center) in Long Beach to be incredibly good for my business. It not only has helped me get my business on track, but it has also helped my friends start their businesses, get great advice, sell a business, exit strategies, timing, coaching, insight and up to date information. For anyone that wants to start a business from scratch, buy a business, start a partnership, I would recommend contacting the SBDC. A bonus is that most of the services are free or low price and SBDC’s can be found across the US.

What’s a lesson you had to unlearn and what’s the backstory?

Way back when (1980’s) everyone in the retail business talked about keystone pricing. Basically if you bought something for $10.00 you would retail it at $20.00, if it cost $30.00 you would retail it at $60.00. Some vendors wanted you to go below keystone. You would pay 10.00 and they would have MSRP(Manufactures Suggested Retail Price) might have $18.00 or $16.99. One time I bought cards that were prepriced on the box. The shipping was so high I was losing money on the product. I had to really unlearn this practice and continue to be vigilent. You have to add in shipping and handling. Who unpacks the merchandise? How long does it take. How much are price tags? How long does it take to price the item? What kind of bag will it fit in? Do I have the bag in stock? How much does the bag cost? And so on…
I started looking at each item individually. I managed to look at an item and say, “How much will my customer pay for this item?” I avoid companies with MSRP. What is the percieved value of the item, not the acutual value.
I was really excited in 1989 when I bought all of this silver jewelry on close-out from a company. I bought earrings for $2.00 The original prices wholesale prices were $18.00-$38.00 They were sterling silver with real gemstones. I sold them for $4.95 a pair. What happened? Noone bought them. My customers thought the jewelry was fake because it was so low in price. The percieved value was not there. I marked everything up and sold it all. I made thousands of dollars on a couple hundred because I priced the jewelry at what my customers thought it should be.
To this day I do not follow MRSP on products. They usually do not include shipping. Shipping is a huge cost to the bottom line of a business. It can be up to 30% of your order. Not adding it in means you will not be able to stay in business long unless you are selling millions of items.

Contact Info:

• Website: http://www.zfabrique.com
• Instagram: http://instagram.com/zfabrique
• Facebook: http://facebook.com/zfabrique
• Twitter: http://twitter.com/zfabrique
• Yelp: https://www.yelp.com/biz/z-fabrique-long-beach