At the time, Alex Macias was graduating from the W.P. Carey School of Business at Arizona State University, with plans to attend law school. “My parents called me, not sure what was happening with the business,” he says. “For a decade, whatever they’d put out on the floor, there was a lot of demand.”
Given Macias’s background in computer information systems and accounting, his parents asked him to come in and help stabilize the situation—and everyone’s business acumen was put to the test. Del Sol lost 50% of their revenue from 2007 to 2009.
“Coming in during the recession was a blessing for me because I didn't know the good times,” he says. “We had to make a lot of tough decisions. Fortunately, we have a phenomenal team of people who stuck with us.”
Despite the challenges, Macias fell in love with the family business. “I thought, ‘Why am I going to law school?’”
The recession forced the company to adapt and close several stores, but there was a bigger decision at hand. “I remember telling my parents we were pigeonholing ourselves when we could be bilingual and provide service to all kinds of customers,” Macias recalls. “So we started advertising in English and changed our Spanish name to Del Sol Furniture. We had an awesome website before most furniture stores realized that the internet was going to be important.”
The payoff was steady 10% growth from 2009 to 2016, as they served customers who spoke Spanish, English, or both. “Since then, we’ve grown even faster, going from two to four stores,” Macias says. “We upgraded our computer systems, including a state-of-the-art point of sale system. Our website tells you exactly how much product we have available in a store or the warehouse, which some of the big stores still don’t do.”
National Bank of Arizona has played a pivotal role in Del Sol’s success during the past few years. “I can’t say enough nice things about the bank,” says Macias. “When we first met, they told us, ‘We really want your business. Let’s figure it out.’”
Santiago Astengo, vice president and business banker at NB|AZ®, is a staunch supporter of the company—not only because they’re a multigenerational, multicultural business that’s fully dedicated to its community, but also for their business acumen.
“Rosa and Alex, along with their team, are very talented, intelligent and passionate people who know how to compete within their industry and are always finding ways to improve their business model and margins,” Astengo says. “They are on top of furniture trends and client base changes. They truly understand the dynamics of their stores and they don’t hesitate to make changes when needed.”
In January 2020, Astengo and the National Bank of Arizona team began helping the company save money and their bottom line.
“By the end of 2022, we had refinanced every property at amazing rates,” says Macias. “I really believe Santiago has our best interests at heart, and he’s put us in a financially strong position.”
As a result, Macias views the potential recession as an opportunity. “Maybe we upgrade our warehouse or add another store. It’s the type of situation where a strong company can pick up market share and be successful.”
