On Tuesday, Jan. 7, from 6 to 8 p.m., “Can We Get Down to (Black) Business?” the fourth installment of The Valentine’s 2019-20 Controversy/History conversation series, will take a look at the past, present and future of black business ownership in Richmond.
Panelists include Vincent Tucker, president of Quality Moving Services; BLK RVA representatives Enjoli Moon and Josh Epperson; and Melody Short, small business director at UnBoundRVA.
David Waller (Photo by Jay Paul)
There aren’t many businesses that can count pioneering entrepreneur Maggie Walker and film director Steven Spielberg’s production company as clients. But when you’ve been in business since 1900 like Waller & Company Jewelers, you’ll oblige a great many customers. David Waller, manager and part-owner along with his brother and father, has worked in the family business since he was a child and doesn’t take the privilege lightly.
“[There] is no guarantee that you’re going to stay in business,” he says from the store’s Jackson Ward showroom. “So, to have been in business for over 119 years now, it’s just a blessing to be able to serve [the public] and to be supported by the community.”
Marcellus Carrington (M.C.) Waller started the business in 1900. (Photo courtesy Waller & Company Jewelers)
As an African American starting a business at the dawn of the 20th century, shop founder Marcellus Carrington “M.C.” Waller found the path to success was no walk in the park. At 8 years old, he attempted to repair his grandmother’s mantel clock, despite her attempts to discourage him from taking it apart.
“He just looked at it and figured it out and figured he could fix it and did it,” David says, recalling the story from family lore.
For M.C., it wasn’t the last time his mechanical virtuosity would be met with resistance. After he opened his watch repair shop, M.C. Waller & Sons, local vendors refused to sell him parts and tools to repair clocks and watches. He proceeded to make his own tools and parts until he found a New York company that would sell to him. In the store today is a grandfather clock that M.C. repaired. It still works.
Times have changed, but African American business owners are still confronted with unique obstacles that threaten their livelihood. David, 48, who also works as a corporate attorney, says getting the money to start a business can be difficult.
“Access to capital can sometimes be a challenge, depending on who you are,” he says, adding that some entrepreneurs fail to secure enough funding to support all the aspects of their venture and struggle to find money for promotion and advertising. “So, you’ve got a business but no way to advertise it. So, you know, you might end up going out of business before you really get started because not enough people get to know you.”
Richard Waller Jr. (Photo by Jay Paul)
In 2019 the shop, known today as Waller & Company Jewelers, received the Metropolitan Business League’s Wells Fargo Small Business Grant. The $12,000 award will pay for renovations to the store coinciding with its 120th anniversary this year.
In honor of the anniversary, David says the store is considering bringing a weekly series of posts on its social media, #WednesdayWalkWithWaller, into the real world. The posts underline important moments in the history of the business, such as founder M.C.’s first attempt at entrepreneurship, several robberies and the purchase of their current location at 19 E. Broad St. Later this year, perhaps on M.C.’s birthday, a member of the family will lead a walk from their former location at 1007 W. Leigh St., sharing the company’s history along the way and ending with a special commemoration at the store.
An assortment of pocket watches at the shop (Photo by Jay Paul)
More Than Jewelry
When a pivotal prop, in this case a vintage pocket watch, wasn’t performing, the company producing the Spielberg-directed period drama “Lincoln” came to the jewelry store for help. “They recognized us as being as one of the few places they could take it to have it repaired,” David says, adding that the watch was repaired quickly to be ready for its close-up.
David says that being a business with a long history puts the shop in a unique position. “Because we’ve been around so long, … we have a different product mix than your average jewelry store. And so, we’ve got people all over the country that patronize us … not just the Richmond region.”
Besides watches, clocks and jewelry, the store is also known for its inventory of black fraternal organization accessories and paraphernalia, one of the largest selections on the East Coast. David says his aunts are involved in sororities, and their interest in custom jewelry led to the store stocking some accessories in the 1970s. Now, a section of the store holds a wide variety of Greek paraphernalia, including lapel pins, slippers, flip-flops, caps, sweaters, T-shirts, pendants, rings and luggage tags.
(From left) Richard Waller III, Kim Waller, Tyrone Graesham (a former employee of 20 years who stops in one to two times a week to visit), Betty Waller Gray, Richard Waller Jr., David Waller (Photo by Jay Paul)
A Changing Landscape
Through the years, the view from the jewelry store has included many changes to the Broad Street corridor. David remembers when downtown Richmond was a vibrant shopping hub, anchored by two large department stores and smaller shops that fed off the foot traffic they brought. Those two anchor stores and most of the supporting shops are part of history now.
“It’s definitely a very interesting time period now because … a lot of the businesses have turned into … apartment buildings and things, so you got a lot of people living in downtown now,” he says. “So, I’m hoping that will feed more into investment in terms of retail space, because right now the retail is mostly just restaurants.
“There’s a lot of growth right now in the city. It hasn’t really hit downtown robustly yet, but at some other areas of the city, I’ve definitely seen a lot of growth and change. I think it’s still a great time to be a retailer in Richmond.”
Never miss a Sunday Story: Sign up for the newsletter, and we’ll drop a fresh read into your inbox at the start of each week. To keep up with the latest posts, search for the hashtag #SundayStory on Twitter and Facebook.
