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FOSTER APPLIANCE |
| Name: | FOSTER APPLIANCE | |||
| Address: | 1920 S. Gilbert Street | |||
| City: | Iowa City | State: Iowa | Zip: 52240 | Country: USA |
| Phone: | (319) 338-5489 | Fax: (319) 338-0970 | Toll Free: | |
| Website: |  FOSTER APPLIANCE |
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| Email: |  Send private email |
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| Location: |  Map for FOSTER APPLIANCE |
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| Description: | “What’s Old is New Again” Over and over, you have heard the expression, “What’s old is new again!” And I’m sure when you hear it, you immediately think of fashion or another business that is constantly recycling itself. But it also applies to the home appliance business. Toby Hyde purchased Foster Maytag on April 5, 2005, however the business has been active and growing since 1950. Derrold “Pat” Foster established the business in December of that year on $4,000 of borrowed money. Although Pat graduated from the University of Iowa, his physical education degree really didn’t go far in supporting a home appliance business. But his experience playing fullback and defensive end on the football team taught him to persevere. Foster Maytag opened in a small building at 116 S. Linn Street in Iowa City. At that time, Pat paid only $150 rent each month. His total floor inventory consisted of 4 Maytag washing machines and 4 Maytag gas ranges. At first, in order to keep expenses down, Pat didn’t employ anyone other than himself, so he operated the shop during the day and made service calls and deliveries in the evenings. But this soon became too laborious, so Pat turned to some engineering students from the University to work part-time. One in particular seemed sick every morning, only to recover each day. After further investigation, Pat discovered that this student’s wife was pregnant, but HE was having morning sickness! |
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