The Farmer’s Wife wins Newton Main Street’s Open 4 Business contest

The Farmer’s Wife has won Newton Main Street’s 2016 Open 4 Business contest, Newton Main Street announced Wednesday.

The Farmer’s Wife, which sells one-of-a-kind interior and exterior home décor and gifts, receives a prize package valued at $3,200 and advances to sub-state Open 4 Business competition.

“I’m very honored to have won,” said Bonnie Terpstra, who owns the Farmer’s Wife. “Thank you to the Main Street program and all the donors and volunteers who make it all such a success.”

Open 4 Business, a business plan contest, has a local, regional and state component. Main Street Iowa and the Iowa Economic Development Authority host the regional and state contests.

For the local contest, Advantage Credit Union, Bank Iowa, Edward Jones Investments, US Bank, and Newton Main Street contributed a total cash prize of $1,500. Other sponsors, including the Newton Daily News, KCOB/Energy 106.7, the Greater Newton Area Chamber of Commerce, and Sign Pro, donated marketing-related in-kind services valued at $1,700.

A cash match of 25 percent of the award by the recipient is required at each level of the contest.
Terpstra plans to invest the Open 4 Business funds in a new e-commerce site to enhance her store's online presence and new inventory specifically for the online store.

“I’m an interior designer, not a programmer,” Terpstra said. “So I need help with the online stuff.”

Terpstra has always enjoyed working with her hands, starting with crafts and other projects as a kid in 4H. She honed her skills in classes like shop, woodworking and advanced woodworking.

As a stay-at-home mom, she worked on crafts as her children slept and sold her creations at area craft shows. In 2002, she finally opened her own shop in the Courthouse Mall before quickly outgrowing that space and moving to her current location.

“Times were good when I started,” Terpstra said. “Then Maytag leaves, followed by the recession. What can I do to capture lost sales? Expanding my customer base through online shopping.”

Terpstra will compete at sub-state the week of June 13 against businesses from the 51 other Iowa Main Street communities. Up for grabs is a chance to win $8,000 and advance to state.

The winner of the state contest, in Mason City during the Iowa Downtown Conference on Aug. 2, collects an additional $20,000.