Opinion: Turning risk into revival

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Opinion: Turning risk into revival

15 Dec 2022

Stephanie Stuckey

Stephanie Stuckey is the CEO of Stuckey’s. She can be seen on social media spreading the word to drive awareness and nostalgia for the Stuckey’s brand that was an iconic part of the American family road trip.

This column is part of our Last Word series, which invites noted professionals to provide closing thoughts at the end of each issue of Commercial Baking. See the full issue here.

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SILVER SPRING, MD — A stranger once approached me in a hotel lobby. It was late at night, and I was exhausted after a full day of work, but he had a warm smile and seemed eager to talk to me. “You don’t know me,” he said, “but I follow you on LinkedIn and want to thank you for bringing back a piece of my childhood.”

Moments like that remind me why I’m on this journey to revive my family’s business. Three years ago, I had the unexpected opportunity to buy Stuckey’s, the roadside chain my grandfather founded in 1937. The company had fallen on hard times after a series of outside owners. But I saw something that wasn’t on the balance sheets: the value of the brand, of people who had cherished memories of stopping at our stores on family vacations. That was worth reviving — and worth risking my life’s savings.

In many ways, bringing back a business is harder than starting one. You don’t get to pick your own team, and even the most thorough due diligence fails to uncover all the pitfalls you’ll encounter. The hardest part, though, is letting go of what’s not working.

We shifted focus from the stores to the product, specifically pecans. Stuckey’s began as a roadside stand selling pecans and grew into a nationwide company.

We had to return to our roots, making our pecan snacks and candies ourselves. Shifting focus from our stores was strategic, but it wasn’t easy.

There are 13 original Stuckey’s stores still standing, but they’re no longer our pathway for growth; we found that through our manufacturing efforts and B2B sales.

For the first time in more than 50 years, Stuckey’s makes its own products. Not only is the quality better, but the margins are also better. Today, Stuckey’s products are landing national accounts, and our operation is picking up co-manufacturing contracts, too. I’m proud to say that in less than three years, the company is out of the red and thriving.

The key was collaboration with my partners: co-owner RG Lamar and Ted Wright, an equity investor who is also a talented marketing professional. Choosing the right partners was hands down my best business decision.

But we could not have done any of it without passion. If you’re not passionate about what you’re doing, then you need to be doing something else. But if you have it, harness it. And then go all in.

I hope my story will inspire others to take a risk on an unexpected opportunity. You never know when it might lead to a stranger thanking you for reviving his childhood.

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