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Sweet NW company weathering economic storm
10:54 AM PST on Tuesday, January 6, 2009
BOISE, Idaho - To spend the day with Dave Wagers in his Boise plant is probably to have more fun than you should.
Wagers, who has "Candyman" printed on his business cards, owns and operates the Idaho Candy Company in downtown Boise.
They've been making candy since 1901, but have called the same building home since 1909.
What made the company a success back then and continues to today is the basis of most successful businesses, the creation of an iconic brand, something unlike anything on the market that isn't made anywhere else, along with a loyal work force. And it doesn't hurt that you make something covered in chocolate.
"But we are competing on a daily basis with Hershey, Mars, Nestle, the big dogs, for shelf space," said Wagers.
And what allows them to do this is the Idaho Spud, a marshmallow, coconut and chocolate concoction that they've been making since the beginning. They make 30,000 a day, 3 million a year.
KING
Idaho Candy has been making candy since 1901.
Forty-two people work at Idaho Candy and while not immune to the current economic slow down, Wagers expects to be able to ride out the slow times, not only because he's able to follow the industry big dogs with price hikes, but because he makes what he makes.
"Usually candy is not what they call a reverse economic indicator, but it's somewhat recession proof. So people will still buy the comfort food, they'll still buy the small gift for somebody, but they won't buy the expensive TV for somebody,” he said.
Wagers is confident that the Idaho Candy Company will stay on track. But he says he does have a fall-back plan: His wife is a dentist. Talk about two businesses that go hand in hand.
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