One of State Street’s businesses is under new ownership for the first time since its founding in 1972.
Former Badgers and husband and wife Stacey and Sean Scannell officially took over The Soap Opera, one of Madison’s quintessential small businesses, after purchasing the shop from its original founders, Chuck Bauer and Chuck Beckwith.
Prior to the sale, the former owners had been anxiously attempting to sell The Soap Opera for years with the help of Sean Scannell, a business broker. But they never officially put the shop on the market due to fears and reluctance surrounding the sale of the business, he said.
All the while, Stacey Scannell was completely unaware — due to the confidential nature of Sean Scannell’s job — her husband was trying to sell one of her favorite local shops, she said.
Stacey Scannell adored The Soap Opera and was a regular at the shop.
“I have been shopping here since I moved here in 2005,” she said. “My best friend and I would spend every weekend getting brunch together on State Street, and we’d always have to go to The Soap Opera.”
Eventually, after years of trying to help the store’s owners sell the shop, Sean Scannell finally told his wife about the owners’ desire to sell their business, he said.
Stacey Scannell responded with immediate enthusiasm, suggesting the couple buy the shop themselves.
“He finally told me, and I said I would love to own that store,” Stacey Scannell said.
Sean Scannell successfully pitched the idea to Bauer and Beckwith in April 2015.
The original owners agreed to the proposition because they were more comfortable with the Scannells than with buyers in the market, Sean Scannell said.
Stacey Scannell also said Bauer and Beckwith were more comfortable with the Scannells because of noticeable similarities between themselves and the prospective new owners.
“Sean is very analytical and great with numbers like Chuck Bauer, whereas I’m a lot like Chuck Beckwith, who’s very good at marketing and organizing the store,” Stacey Scannell said. “[Bauer] really liked that we had the same dynamic as the previous owners.”
Stacey Scannell said the similar dynamic resolved one of Bauer’s chief fears in selling The Soap Opera: the possibility of the store dying out under new ownership.
The Scannells formally purchased The Soap Opera Dec. 31, 2015 and officially took over operations Jan. 1, Sean Scannell said.
While he and his wife already have some ambitious ideas for improving and growing The Soap Opera, Sean Scannell said they are currently focusing on finding their bearings in their new world of exquisite soaps and lavish aromas.
“Right now we’re focusing on getting comfortable and making current operations as efficient as possible,” he said.
Future improvements currently in the works include an extensive overhaul of the shop’s website and the release of a new line of high-quality hair and body products in the shop’s spa collection, Stacey Scannell said.
Right now, the shop’s outdated website is a priority, Stacey Scannell said.
“I feel like the business has a lot of opportunity for growth, especially online,” she said. “We’re working on updating that and making it more user-friendly for customers.”
Stacey Scannell also said she and her husband may consider opening a second Soap Opera location sometime in the next five to 10 years.
In accordance with the previous owners’ wishes, however, the Scannells do not intend to make too many changes to the business.
Stacey Scannell said part of the charm of The Soap Opera is the fact it has remained almost entirely unchanged since its founding in 1972, and the shop’s endearing invariability will endure under the new ownership.
Much joy comes with owning one of State Street’s oldest and most beloved shops, and by extension bringing joy into countless lives, Stacey Scannell said.
“I love making people happy and I’ve always been the kind of person who wants to help the world in some way,” she said. “It’s a wonderful thing to run a business that is not only sustainable, but is also a place that just makes people happy.”
