Golden State bonks another business loose

The exodus of California businesses continues to make news, and this time the latest successful entrepreneur to hit the exits could be a win for the Gulf Coast.

Mike Bonk, who built a successful chain of houseplant and pottery stores in Orange County, Calif., over 30 years, is the Golden State refugee. Bonk's company, Mainly Seconds — Pottery Plants & Things, had $12 million in annual sales, seven stores and 200 employees at its peak a few years ago. Bonk hopes to re-create the success with a new plant-themed business in Sarasota.

“I started with $15,000 and a dream,” Bonk tells Coffee Talk. “But the business climate wasn't good in California. We were anxious to leave.”

That feeling has spread quickly in California.

High taxes, loads of regulations and what Bonk calls a state of entitlement among employees are common key culprits. To wit: Spectrum Locations Consultants, a research firm, recently reported that 254 California companies fled the state in 2011, taking some or all of the employees. That was up 26% from 2010. Many of the companies that bolted were small businesses, but at least one, Apple, has a global brand. Apple, in exchange for nearly $6 million in tax rebates, plans to build a large facility in Austin, Texas, which will eventually have 3,600 employees. The company will maintain a large presence in Cupertino, its longtime headquarters.

Bonk's government-induced frustration, meanwhile, began to grow over the last five years. California's muddled workers' compensation program was especially painful: Bonk says his costs and insurance premiums grew 314% over three years, from $70,000 to $290,000. Says Bonk: “The system was getting out of control.”

Bonk shut down his last store in California in May. He and his wife, Maria Marin-Bonk, bought a home on Siesta Key a few years ago. The move mirrors Marin-Bonk's brother, Ed Marin, who moved his art and commercial wall decor business, Soicher Marin, from Los Angeles to Sarasota in 2009.

Bonk's new store, on Tamiami Trail, just north of the Ringling Museum, is called Plants & Treasures. It's a 6,000-square-foot store with an attached outdoor pottery yard. Bonk hopes the business will find an untapped niche against the Home Depots and Lowe's of the world.

“I am a little bit older and want an easier life,” says Bonk. “But I still want to be challenged and build something.”