HENDERSON (KTNV) — Janie Sandberg and her husband have owned Floor Coverings International in Henderson for two and a half years.
"We'd always wanted to own a business," Sandberg said. "We're just all about making the experience wonderful for people when they get new floors."
She says that, while they have grown over the past couple of years from a mobile showroom to a new physical space, tariffs that have affected many local businesses here in the Valley have also presented challenges at her own shop.
I spoke with her to get a better understanding of what she's facing as a business owner.
"We have seen recently about an 8 to 10% increase on our materials, even things that are made in the U.S.," Sandberg said. "With the tariffs, the biggest thing is just that it's uncertainty."
And she's not alone. Megan Comfort, the executive vice president and small business manager at Nevada State Bank, says small businesses everywhere are concerned about the volatility of the tariffs.
"Small business owners are being very cautious with raising their prices to basically combat their increase in costs," Comfort said. "They're having a hard time kind of navigating the landscape a little bit to put together a formal and final plan."
But, Comfort says, there are several things small businesses can do now to prepare for the future:
- Talk with experts or other business owners to see the strategies they're using to handle tariffs
- Re-evaluate your inventory
- Evaluate your pricing strategy, like considering pricing on a sliding scale rather than a set price
- Work with vendors to work out more favorable terms of pricing standards
- Trim any non-essential expenses
Comfort also says that if you're a small business that's been impacted by tariffs, your banking partner is a great resource to understand and evaluate your financial position.
"Knowledge is power: stay informed," Comfort said. "Really make sure you're keeping up to speed on what might be impacting you."
For Sandberg, she says that regardless of prices, Floor Coverings International is committed to the community that's been supporting them.
"You might have a little bit higher of a price on the materials, but there's nothing we can do about that. It's outside of our control," Sandberg said. "What is in our control is amazing customer service and an amazing experience."
The business will have a grand opening on Oct. 4 at 10 a.m. at their location at 2654 W Horizon Ridge Parkway.