What's New: Indy NUT House

December 7, 2011
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Welcome to What’s New Wednesday, where we profile local startups—and the entrepreneurs behind them. This week, we meet Margaret Broderick and Mike Lehane, who opened Indy NUT House in May.

Type of business: Shop selling “nice, useable things" for home, building and lifestyle

Address: 2405 N. College Ave.

Phone: 447-9415

E-mail: info@indynuthouse.com

Website: www.indynuthouse.com

Founded: February 2011

Owners: Margaret Broderick and Mike Lehane

Owners’ background: Friends and business partners Mike Lehane and Margaret Broderick met in late 2009 while both were hip-deep in home rehab projects, bonding over the challenges that come with breathing new life into old buildings.

Indy NUT House owners Margaret Broderick and Mike LehaneMargaret Broderick and Mike Lehane opened their shop in May. (IBJ Photo/Perry Reichanadter)

Lehane, 48, has been working on houses for 30 years, working for himself and as a subcontractor.

Broderick, 50, studied communications and sociology at Indiana University and earned an MBA from Indiana Wesleyan University. She worked a variety of corporate jobs—mostly in marketing, management and operations—before getting into real estate.

Both live on New Jersey Street—Lehane is single and Broderick has a partner of 18 years—not far from the shop.

Why started business: As they worked on their own properties, the partners accumulated a lot of “stuff”—everything from reclaimed doors, windows and woodwork to brand-new deadbolts, blinds and furniture.

It didn’t take them long to come up with the idea of selling what they didn’t need to others working on their homes or rental properties. They chose the location to be in the heart of what they think is an up-and-coming area for home rehabbers.

The shop is small and packed full of products, but Broderick is quick to help customers navigate the organized chaos.

“I tell people to come in with an open mind and a keen eye,” she said. And measurements wouldn’t hurt, either.

Competitive advantage: Broderick said Indy NUT House is a “bridge” between not-for-profit resale shops, which rely on donations, and major retailers, which typically sell new merchandise at higher prices.

She and Lehane visit auctions and estate sales every week looking for “historically used” items, and they have developed relationships with closeout specialists and liquidators to get good prices on new products.

They also take suggestions from customers. The store’s large selection of window treatments, for example, wasn’t part of their original plan.

 “The demand was there and we responded,” Broderick said. “We adapted to the needs of the customer very quickly.”

An inventory list also is available online.

Startup cost: The partners declined to disclose financial details, saying only that inventory was the largest expense.

Funding source: Personal savings

Potential problem and contingency plan: Broderick and Lehane thought they had a winning concept, but they didn’t know how their target customers would respond. So they kept expenses low and their business plan flexible.

“We have opportunities being presented daily,” Broderick said. “They key is our ability to respond.”

First-year goal: Given that flexibility, she said their goals change from week to week. For now, they’re happy as long as customers keep coming in and inventory keeps moving out.

“We are getting good at using every inch of space here,” Broderick said.

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  • mailing list
    i was in this past saturday and would ike to be added to the email list
    • Address email update
      Indy Nut House is now located at 1202 E 23rd, 46205 right around the corner. To be added to the email list see the store website. The owner of this store is misstated in the article, we apologize for any confusion, and look forward to see you soon.
    • Address update
      You can find NUTs at 2153 Hillside Ave, indynuthouse.com see you soon
    • shady operation
      These people are gypsies. The store keeps moving to new locations and I've heard that the two parties in the article are in a lengthy legal battle with each other. Broderick seems to start new businesses just to settle debt with old failed ones. Shop at your own risk.

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    1. why oh why does this state continue to elect these people....do you wonder how much was graft out of the 3.8 billion?

    2. i too think this is a great idea. I think the vision and need is there as well. But also agree with Wendy that there may be better location in our city to fulfill this vision and help grow the sports of hockey and figure skating in Indy. Also to help further develop other parts of the city that seem often forgotten. Any of the other 6 townships out side of the three northernmost could benefit greatly from a facility and a vision like this. For a vision that sounds philanthropic, the location is appears more about the money. Would really like to see it elsewhere, but still wish the development the best of luck, as we can always use more ice in the city. As for the Ice growth when they return, if schedules can be coordinated with the Fuel, what could be better than to have high level hockey available to go see every weekend of the season? Good luck with the development and the return of the Ice.

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    4. You do not get speeding ticket first time you speed and this is not first time Mr.Page has speed. One act should not define a man and this one act won't. He got off with a slap on the wrist. I agree with judge no person was injured by his actions. The state was robbed of money by paying too much rent for a building and that money could have been used for social services. The Page family maybe "generous" with their money but for most part all of it is dirty money that he obtained for sources that are not on the upright. Page is the kind of lawyer that gives lawyers a bad name. He paid off this judge like he has many other tine and walked away. Does he still have his license. I believe so. Hire him to get you confiscated drug money back. He will. It will cost you.

    5. I remain amazed at the level of expertise of the average Internet Television Executive. Obviously they have all the answers and know the business inside and out.

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