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Jacksonville Daily Record 8/22/24

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AUGUST 22 TO AUGUST 28, 2024 | JAXDAILYRECORD.COM

BUSINESS & LEGAL NEWS IN BAKER, CLAY, DUVAL, NASSAU AND ST. JOHNS COUNTIES

BUSINESS SUCCESSION ISSUE

FAMILY IS FOUNDATION FOR FLOORING BUSINESS

Calvin Modling and daughter Bonnie Modling Fenwick run Best Buy Floors Inc., which includes Carpet One Floor & Home and Flooring America stores in the region, with trust and mentoring.

INSIDE

THE MATHIS REPORT

Tesla closes its store at St. Johns Town Center PAGE 4

BY DAVID CRUMPLER ASSISTANT EDITOR

B

onnie Modling Fenwick was a dental hygienist when her father asked her to think about joining his flooring business. Changing professions was not on her radar. She studied hard to earn her license and she enjoyed the work. The timing was right when Calvin Modling asked, “When are you going to come learn this business?” That was back in 2002 or 2003, Fenwick said, and the dentist she worked for had started talking about retirement. She told her father fairly quickly that she was ready. Fenwick, 58, worked her way up to become president of Best Buy Floors Inc. 10 years ago. Modling, 81, is the CEO. Other family members work for the company as well. Best Buy Floors is the parent company of three Carpet One Floor & Home stores, two Flooring America stores, and a builder division, Designers & Builders Source Inc., all in Northeast Florida. It has 52 employees and more than 150 subcontractors. Its eight warehouses in Orange Park and St. Augustine total about 40,000 square feet of space.

RESTAURANTS

Dorothy’s Downtown to take Burrito Gallery space PAGE 8

Photo by David Crumpler

Best Buy Floors Inc. CEO Calvin Modling and President Bonnie Modling Fenwick stand beside a promotional stuffed animal for Lees, a legacy carpet brand, at their Carpet One Floor & Home at 8956 Philips Highway.

INSIDE

The need to map out ‘a robust and flexible succession plan’ Bill Sorenson, CEO of Heritage Capital Group and managing director of Business Valuation Inc., has advice for managing “a robust and flexible succession plan” that would serve any family-owned and operated business well. PAGE 14

SEE CARPET, PAGE 12

EDUCATION

‘He started to learn the way his brain needed’ DePaul School of Northeast Florida, which specializes in education of children with dyslexia, receives a swell of support from government and philanthropic community leaders. PAGE 10 THE BASCH REPORT

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REAL ESTATE

Home inventory surges in Northeast Florida The median price of a single-family home slides slightly as the number of homes on the market surges, according to the Northeast Florida Association of Realtors. PAGE 6

Duos Tech starts energy venture After annoucing an AI venture in May, Duos Technologies Group Inc., a railroad company, launches a third business line called Duos Energy Corp. PAGE 18

VOLUME 111, NO. 41 | TWO SECTIONS | PUBLISHED SINCE 1912


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