Antique mall chain emerges from man’s last $4,000

LAKELAND — More than six years ago, Manny Pesco had just $4,000 left from his failed auction company driven out of business by the Great Recession in 2008.

“I had to decide whether to live off Social Security or do something else,” said Pesco, then 77.

Pesco decided on the latter and parlayed his remaining money into the first Wildwood Antique Mall at Interstate 75 and the Florida’s Turnpike, which opened in February 2011. The name comes from the town at that intersection.

The business has grown strongly since then. Last July, Wildwood opened its fourth mall at 3530 U.S. Highway 98 N. in the old Sports Authority space on a parcel of Lakeland Square Mall.

The four locations rang up more than $4 million combined in gross sales last year, Pesco said, and he expects to do $4.5 million in sales this year. He is scouting new locations around Vero Beach and Fort Myers.

Wildwood works on a consignment business model, renting out spaces to individuals with antiques, collectibles and other used items to sell, said Johnny Zamudio, the operations manager for all four outlets who works from the Lakeland store.

Rent ranges from $2.35 per square foot — about $201 per month for the basic 8-by-10-foot area — to $2.55 ($218 a month) for areas against the wall with electric service.

In return for building maintenance, cashiers and other overhead, Wildwood gets a 10 percent share of all sales, said Joey Ouellette, 74, the customer-services manager in Lakeland who also rents several spaces.

Ouellette, a former grocery wholesale buyer, has dabbled in selling collectibles for 22 years and was one of the first vendors at the opening of the Lakeland Wildwood.

He has no problem refreshing his varied product lines, which include vintage furniture, jewelry, vinyl records and china, Ouellette said. He visits estate sales, yard sales, auctions and other venues within a roughly 100-mile radius about three times each week.

“There’s so much out there, it’s unbelievable,” he said. “The supply in Florida is unlimited.”

At 44,000 square feet, the Lakeland location is the largest in the chain, Zamudio said. It has more than 300 rental areas available with more than 280 places currently occupied.

Vendors sign a monthly contract with turnover at the end of the month is about 10 percent. There are few restrictions on what vendors can sell.

“We try to keep it about 80 percent antiques and collectibles and 20 percent other items,” he said.