David W. Smith/Daily NewsLori Spalding owns the Clothes Lion at 1715 U.S. 31-W By-Pass.

Each week, the Daily News profiles a locally owned business.

Name of business: The Clothes Lion

Address: 1715 U.S. 31-W By-Pass

Type of business: Consignment store

When did it open? June 1, 1982

Owner: Lori Spalding

Number of employees: None. I have sisters who help out when I need them.

Specialties: Clothing for the entire family, antiques, collectibles, furniture.

How did the business get started? My aunt had three children to raise and always shopped consignment in Louisville. When she moved to Bowling Green, there were no consignment shops, so she thought she would offer it to others.

What is your background? I started working for my aunt part-time after being laid off at Fruit of the Loom. When it became available, I purchased it.

What are your biggest challenges as a business? Keeping up with current styles and demands.

What’s your business philosophy? Honesty and good customer services.

What issues are affecting your industry? Like everyone else, the economy. But that can also work to our advantage.

What are the factors that make your business successful? We offer a wide variety. We have clothing consignments, booths with antiques and new items and furniture. In today’s economy, everyone is looking for ways to save money.

How do you handle competition? Consignment shops are not really competing against each other. We all have different items. People who shop consignment usually will go to several shops. I think we benefit each other.

What is your advice to someone thinking about opening a business? You need to have enough savings to live on for two years, at least. You need to have adequate funds for expenses until the business is financially sound.