Thrift store supporting Potsdam Humane Society pays off five-year loan after two years
POTSDAM – A thrift store opened in support of the Potsdam Humane Society has repaid its five-year startup loan after only two years.
Best Friends Thrift Shop, 8 Raymond St., is managed by Cathy and Tim Connolly with 100 percent of the net profits directly supporting the daily care of homeless pets at the society’s Potsdam Animal Shelter on Madrid Avenue.“It's almost impossible for a struggling charity to afford to start and operate a thriving thrift store,” the Connollys said in a release.
“That's why we developed this model. In the case of Best Friends, our private management company opened the store with our existing expertise. We also assumed all the financial risk. If it fails, the shelter won't be out a penny.”
In just over two years in business, the shop has raised more than $12,000 for PHS under this partnership.
“We're still growing,” the Connollys wrote.
“We're still on target but there remain costs the management company will have to absorb. It's just nice to have reached this particular milepost so far ahead of schedule.”
After several more years, when the business is firmly established, they said, their plans are to turn all operations of the business over to the shelter, if they wish it.
“We're running things pretty lean. Combined, we have decades of personal experience in the local used item market. [The shelter] might very well wind up deciding to continue our arrangement. Time will tell.”
The Connollys also own and operate North Country Neighbors, a flea market at 6 Main Street, Potsdam.