COLDWATER, MI — F&B Warehouse began six years ago as a small resale business in a Sturgis apartment and has since expanded into a multi-location warehouse and online auction company.
The Coldwater Area Chamber of Commerce celebrated the opening of F&B Warehouse’s newest location on Friday, Feb. 27.
Owner Bert Martinez said people are seeking deals in today’s economy.
His business undercuts big box stores, starting with buying small liquidation “mystery boxes” and reinvesting profits to grow.
The business expanded from an apartment to a basement, then briefly to Quincy, and later relocated to Bronson.
It later added a location in Jonesville and has now opened its third site in Coldwater.
F&B now manages about 80,000 square feet of warehouse space and handles a high volume of inventory across its locations.
Martinez said the company expects eight semi-truckloads of merchandise each week, with four arriving Feb. 27 alone.
Online Bidding and Bin Store Model:
F&B Warehouse combines online bidding with an in-store bin model, giving customers multiple ways to shop.
Through the company’s online auction platform, customers place bids and ultimately set their own prices on thousands of items. Usually, there are up to 4,000 items online.
Recently, large-screen TVs sold for $35.
In the bin stores, prices decrease throughout the week: $7 on Fridays, $6 on Saturdays, $3 on Sundays, and $1 on Mondays.
Martinez said this model is popular, especially for essentials like food, clothing, and household goods.
Where the products come from
Inventory comes from major national retailers and distribution centers, including Amazon fulfillment centers in Georgia, New York, Michigan, and Illinois, as well as surplus and returns from Lowe’s, Home Depot, and Target.
Much of the inventory is brand new, arriving through Amazon’s liquidation programs, which include overstock and returns bundled for liquidators.
Expansion into technology
Martinez also owns Build My Auction, a separate software company that develops auction management software for other businesses.
The platform is used by 24 companies, mainly in Michigan, with additional users in Kansas and the Kalamazoo area.
Martinez said the software company operates independently of F&B Warehouse and was created to support the auction industry as a whole.
Employment and growth
F&B Warehouse and its related businesses employ about 35 full-time and part-time staff across warehouse, retail, and software operations.
Martinez said managing inventory, labor, and logistics is a constant challenge with such a large operation.
The Coldwater location marks another milestone in the company’s steady expansion as people look to save money.
Contact Don Reid, dReid@USATodayCo.Com
This article originally appeared on Coldwater Daily Reporter: Coldwater’s new F&B Warehouse offers deep discounts on new items
Reporting by Don Reid, Coldwater Daily Reporter / Coldwater Daily Reporter
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