Welcome to the first installment of Business Matters, a weekly column focusing on local business news. In this space, you will find information about everything from store openings and product launches to developments at existing businesses and trends that power the engine of the area economy.

I will also be providing tips from experts to help budding entrepreneurs and established business owners alike succeed in an age dominated by ever-changing technology and fads that turn on a dime.

Any successful business plan includes two key factors: Identifying a target audience and making your business stand out from the competition. Which brings us to the subject of this week’s column: Beach Budz Records & Cigars in Old Orchard Beach.

Located off the main drag, Beach Budz has combined two hot markets – high-end cigars and the resurgence of vinyl records – in the ground-floor space of The Tax Doctor, 30 Saco Ave. If you know of another place where you can buy a $15 Ashton cigar and old rock, jazz, country and blues records while getting your taxes done, clue me in, because I sure don’t.

The shop is operated by 19-year-olds Patrick Mourmouras and Joseph Casale, two Cheverus High School grads, college students and old friends who were looking for a way to make money during the summer break while getting some hands-on experience at running a business. Mourmouras is a sophomore majoring in international business and marketing at Duquesne University in Pittsburgh, and Casale is a sophomore majoring in communications at Suffolk University in Boston.

Enter Mourmouras’ dad, Peter, of The Tax Doctor. Peter Mourmouras was looking to sell some of the 20,000- plus vintage LPs he had collected over the decades, so he offered to move his tax preparation business upstairs and give the two young men the ground floor to use as a showroom. To make it more unique, they decided to add top-of-the-line cigars and smoking accessories.

The trio also wanted to help OOB in its quest to get more boutique shops on the Saco Avenue strip to entice locals and tourists. The building that houses The Tax Doctor and Beach Budz was recently rezoned from residential to commercial by the city, and Thomas Mourmouras – Peter’s son and Patrick’s older brother – is a member of the OOB Comprehensive Plan Committee.

“Vinyl’s really hot right now, cigars are big, so we thought, ‘Let’s start a little boutique business and get the ball rolling,’” said Peter, 64.

As soon as Joseph and Patrick finished the spring semester in early May, they set about transforming the ground-floor space into an inviting music den. They installed shelving for records, a vintage jukebox and a glass checkout counter that also displays cigars and related merchandise.

Some of the collectible albums were framed and displayed on the walls; those deemed disposable were removed from their covers and nailed to the ceiling or had their labels cut out to serve as drink coasters.

Most of the time was spent cataloging, grading and pricing the thousands of discs – only a fraction of which are on the floor at any one time. (If a customer doesn’t see something he or she wants, the owners will look for it in Peter’s non-displayed collection.)

“Before (the semester ended), we were pricing things and getting everything ready,” Casale said.

Then it was time to market the business, which they did guerilla-style by hitting the beach and handing out coasters and other promotional items, a tactic they continue to employ when time permits. A ribbon-cutting/ open house was held with the OOB Chamber of Commerce on July 7.

To their admitted shock, business was swift almost from the get-go.

“I’ve been surprised with the range of customers coming in,” Patrick said. “I was expecting it to be a mostly older crowd, but it’s mostly been teenagers.”

All three men are eager to give credit where it’s due. They mention several times how good the city has been to them, especially Town Manager Larry Mead and Assistant Town Manager Louise Reid. And they send thanks to Kim Verreault, executive director of the Chamber of Commerce, for helping organize the ribbon cutting and taking photos of the opening.

Joseph and Patrick plan to keep the business open until they return to school in August, then on weekends through Columbus Day. If all goes well, they will reopen during Christmas break and again next summer.

Future plans include selling records online via eBay and Discogs, and possibly expanding into craft beer and fine wine next year. If they make enough of a profit this year, they plan to donate some of it to the Old Orchard Beach Community Food Pantry.

For more information about Beach Budz Records & Cigars, call 934-4110 or visit the business’ Facebook page.

— Rod Harmon is managing editor of the Journal Tribune. Email business news to [email protected].