Mike Wolfe’s Untold Truth of American Pickers
Wolfe and his partners are doing pretty well with “American Pickers,” but the salon and its outlets are far from his only source of income, and it’s not just all those savvy real estate investments and restorations that have paid off. yields. In a 2015 conversation with fast businessWolfe recounted a conversation with History Channel executives that was eye-opening.
“Story [Channel] said something to me about four years ago, and I’ll never forget it: “We’re not in the Mike Wolfe business, we’re in the ‘American Pickers’ business,” he said. said. “That woke me up. I was like, ‘You know, that’s right, you’re in the ‘American Pickers’ business, and I better get into the Mike Wolfe business real quick.'”
It’s safe to say he had some success at this, starting with understanding that it was the show that fueled his business, not the other way around. “We’re on TV now 20 hours a week,” he said. “Imagine trying to buy 20 hours of TV a week, what would it cost you. You couldn’t do it… So for us to be a small business and have that kind of exposure is crazy.”
It turned out that it wasn’t just the lovingly restored antiques that customers were buying. “Ninety percent of our sales are apparel, so all of a sudden I’m in the apparel business,” he said. “I look at what we’re making for spring. I look at the durable goods, the soft goods, the way those goods are presented in my store; the function, the flow, the lighting, how it’s focused, where it is , how far is it from the cash register. I constantly have meetings with my team to find out what is selling and what is not selling.” This effort was so successful that Wolfe branched out with a new clothing line, Two wayswhich offers a variety of equipment, both in-store and online.