From Garage Doors to Property Management: How Rena and Dick Hall Built A Legacy With Multiple Successful Businesses
By: Tim Neubauer, Ag/Commercial Banker, VP, Ames
December 19, 2024 | Growing Business, Customer Stories
Rena and Dick Hall, owners of The Door and Fence Store in Ames, Iowa
For entrepreneurs Rena and Dick Hall, multiple businesses are better than one — especially when they’re centered around the same goal: improving people’s lives through better living spaces. Their first venture was The Door and Fence Storeopens in a new window, which focuses on creating durable custom garage door solutions for homes and businesses. But they didn’t stop there. After gaining experience in the industry, the Halls expanded their business portfolio by launching a property management company called RentAmes Property Managementopens in a new window. These businesses reflect their versatility, dedication and passion for enhancing the environments people call home.
Q: Who, or what, led you to start your own business?
Rena: When I was four years old, my family rented a house from a landlord in eastern Colorado. After seeing him install an indoor toilet, as well as other the ins and outs of running a rental, I was so enamored with the profession that I knew I wanted to pursue it when I got older. While attending Peru State College in Nebraska, I met my husband, Dick, who had gotten back from serving in the Vietnam War. We decided to elope in 1973 and move to Ames, Iowa. A few years later, Dick had an opportunity to buy a small business when he was working as a door salesman. We barely had any money at the time, but we knew we wanted to be business owners. We launched The Door Store in 1976 and built our first office in 1980. A few years later, Dick and I expanded the business to include fences. Recognizing the need for more space, we focused on building up our savings and using stock certificates as collateral so we could get a loan to buy land to move our business to its current location at Westport Station in Ames.
In the 1980s, we also began buying rental properties. We’d purchase one building and then rent it out. Once we had positive cash flow we’d move on to the next building. Over time, we built RentAmes Property Management where we manage and lease residential, commercial and storage unit properties. Today we have various houses, duplexes, townhouses, apartments and commercial units for rent in areas around Ames and Iowa State University's campus.
Q: What is the most rewarding part of business ownership?
Rena: Giving back is very important to me. I grew up very poor and knew that getting an education was key to changing my path. I was awarded a need-based scholarship so I could attend college in Nebraska. I donate regularly to my alma mater so other students can have the same opportunity. Being able to give back is a key aspect of my life as a small business owner.
Q. Why did you decide to partner with Northwest Bank?
Rena: In 2019, we wanted to buy an old brick building on Lincoln Way in Ames and complete a historical renovation. Renovating a historic property requires a significant investment, so I met with the bank that I was with at the time. However, they didn’t want to commit due to the expense. We decided we needed to go another route so my next door neighbor, and employee at RentAmes, Nate Welty, looked into Northwest Bank. Northwest Bank was new to the Ames market at the time, but they could see we had a strong balance sheet and decided to partner with us. The Northwest Bank team has helped us with financial consultations and resources that have been instrumental to our success as a small business.
Q: What is the biggest challenge that your business has faced and how did you overcome it?
Rena: Hiring and retaining the right employees is one of the biggest challenges of small business ownership. Each person represents our company — they interact directly with customers and are responsible for delivering the products or services that define our business. We work hard at finding reliable workers to help build a strong reputation in our community, which can lead to new and repeat business. We also keep our team motivated and encourage new ideas, helping our business stay competitive and adaptable in a changing market.
Q: What advice do you have for aspiring entrepreneurs looking to start their own business?
Rena: It’s OK if you don’t make much money when you start your business. Things generally start off slower and then ramp up. But, make sure when you’re in the startup phase to always put money in your savings and retirement accounts. It can be as low as $25 per paycheck. Instead of spending that money, save it for opportunities that come down the road. It'll pay off later.
Reach Out to Northwest Bank Today
If you’re looking to start a business, or two, like Rena and Dick, reach out to a commercial banker from Northwest Bankopens in a new window. Partnering with a community bank is not just about securing financial support — it’s about building a longstanding relationship. Our team of experts is here to help you grow today.