Jasmine Baillio recalls driving down Academy Road in neutral with only a splash of petrol in the tank, “thinking, ‘I just have to get to work’ and praying that I can get to the gas station afterwards .”
Baillio, who lost her home and real estate business in the financial crash of 2007, had one more thing: the little consignment shop she had opened on a lark a few years earlier.
And the way her What Goes Around store and its customers supported her family back then is why she’s still grateful to every customer who walks through the doors.
“It was a horrible, horrible time,” Baillio says. “So when someone came or someone bought something, they didn’t know it, but I was so, so grateful. That’s what it means to me. I never let that feeling go. .
That original store near San Mateo and the Academy has since doubled in size, and there is now a partner store across the river near Montaño and Coors.
Although Baillio was forced to lay off most of its staff and close its doors during the pandemic, business has boomed – and continues to boom – on the internet. She and her team spent the early days of the pandemic photographing every garment and accessory, and finding the best ways to sell the entire inventory online.
Now, Internet sales account for about three-quarters of the West Side site’s revenue.
“After that first week of crying and lying on the couch…we got to work,” says Baillio. “We said, ‘OK, this is our chance to get really amazing online.’ So instead of just being in Albuquerque, we can now be everywhere.
What prompted you to open your first store?
“I love consignment stores so much. I love any type of scavenger hunt or getting a fabulous deal. I never pay anything retail. Back then there were consignment stores, but that was one of two things. They either had really good prices, but the atmosphere was more like a thrift store. Or it was a really cute vibe, but the prices, I thought, were too high. So I thought, ‘Why can’t you have both?’ And that was our original vision, great environment with great prizes, and it worked really well. I ran it on my own, and it just got more and more. I’m one of the really lucky people who love what they do. It’s not work.
What do you like most and least about running your own business?
“My favorite thing is definitely the people. I have women who have been shopping with us for 18 years. Just knowing their life and what they’ve been through, and knowing the life of my team, it’s really special. What I like least: those pesky finances. This is very common among entrepreneurs. You like it all, and it’s fun but oh, the paperwork.
What was your first job?
“My first job when I lived in Santa Fe was at Miller’s Outpost, and I was 15. All summer I just folded jeans and folded jeans and hung clothes. When I left that job, I said, ‘That’s it. I will never work in clothes again. I’m still bending, but I love it.
Is there anything you wish you had done differently?
“Probably get a (business) coach sooner. I feel like I’ve avoided a lot of mistakes. I know timing is everything and my life was probably meant to go that way, but if I could do it differently, I probably would have grown faster sooner. I really didn’t have the fire under me to grow the business until maybe eight or nine years old. And then I thought, ‘You know what? I really like that. Where can we go with that? That’s when things started to turn.
What do you do in your free time?
“I love to dance. All types — ballroom, country-western, competitive. I love New Mexico. We’re so close to so many things.
Tell me about your experience during the 2007 crash.
“My (former) husband and I had set up a real estate company here, and then in 2007 the market crashed. And we had just put all our eggs in one really big basket. We were doing great and…we wanted to get started in larger commercial properties. We were buying the Simms Downtown building. We had plans for that; it was really cool. We acquired the bridge loan with no problem and we had our permanent financing in place. Then when everything happened, they said, ‘Oh, never mind. We don’t lend money anymore. We also had several investors at the time. We couldn’t give them money, so we gave them all the money. things we had at the time. We lost everything. We were kicked out of our house. I just had a new baby. It was horrible.”
But you didn’t have to give up What Goes Around?
“I kind of ran it as a hobby. They were taking all the assets and they were looking at the business. But I wasn’t running it as high profit or anything. I think we were even running. I said, ‘I have a cash register, a printer.’ It was really like nothing. So they put that aside. Suddenly, this little store is all for the family. I had to fire the store team and manage it myself. It saved my life.
Is there anything you are particularly proud of?
“One of our biggest successes and what I’m very, very proud of is that everything here is locally sourced. The inventory comes from women here in Albuquerque. There are people I know that we have helped. Some sell the excess of anything, then turn around and use it to shop or save for Christmas or to take a vacation. But there are also people I know that we’ve helped pay their mortgages, helped put food on their table. And then people just have a hard day. Retail therapy is one thing. It just makes us happy too.
What is your advice for other business owners or aspiring business owners?
“I think the team is vital. Having that coach in your corner is vital. Knowing your numbers is super important. But don’t have this superhero complex, where ‘Nobody does it better than me.’ I have to do everything. You have to know how to delegate. We apply the 80/20 rule in everything. If they (the staff) can do 80% as well as me, or if my management team can do it, it will probably be tremendous.
How would you describe yourself in three words?
“Exuberant, cheerful, visionary.”
THE BASICS: Jasmine Baillio, 46, born in Albuquerque; married to Michael Garcia since 2021; three children in a blended family, Sabrina 24 years old; Olivier, 15, and Savane, 13; a dog, Atlas, a German shepherd, and two cats, Ruby and Charlie.
POSTS: Owner of What Goes Around consignment shops since 2004; co-owner of a local real estate company, 2002-2008.
OTHER: The consignment business has raised funds for the Assistance League of Albuquerque, Southwest Animal Rescue Fund Inc., Barrett House, and Watermelon Mountain Ranch, among others. Additionally, the company has donated merchandise to raise funds for auctions to benefit Pursonality, Pegasus Legal Services for Children, and various women’s groups.