Local entrepreneurs acquire The Virgil on Wells Avenue

Reno entrepreneurs and restaurateurs Colin and MaryBeth Smith recently added to their portfolio of businesses with the acquisition of The Virgil events center. The century-old brick building at the corner of Wells Avenue and Vassar Street was the home of Little Flower Church for more than 30 years before being turned into a bank and special events venue.

MaryBeth Smith told NNBW in an interview last week that The Virgil is a unique venue that provides multiple opportunities for the Smiths to leverage their experience and increase revenue through more bookings, increased catering and alcohol sales, and leasing space for business conferences in the downstairs office area.

The centrally located venue also dovetails with the Smiths’ mission of staying closer to home after years of serving events and customers with an hour or more of drive time.

“It’s right in our wheelhouse, and it goes along with us trying to stay more in Reno,” MaryBeth Smith said. “Midtown is a great area that’s growing, and it has a lot of potential. The space is beautiful, and it’s right up our alley.”

Rachel McIntyre, Jessie Phillips, Jamie Miller and a commercial development investment partner opened The Virgil in 2021. The building constructed in 1920 sold for $1.4 million in 2019. MaryBeth Smith said the owners called her in August and asked if they wanted to buy the business. The group met in late August, had some additional discussions, and concluded with another meeting in October where the Smiths presented an offer for the business.

“They called us because they liked our business model and what they had heard about us from other people,” Smith said. “The Virgil has always been a beautiful space – if I had known when it last became available I probably would have put in a bid and bought the building.”

Roundabout Catering

Exterior of The Virgil events center, a former church.

The Smiths also operate event spaces in Fernley (The Meadows on Inglewood Drive) and Tannenbaum on Mount Rose Highway, but they are trying to increase their volume of business throughout greater Reno-Sparks.

“For years we went all over the lake area and Northern Nevada, and it was hard on our team,” Smith said. “It really takes a lot of work, time and energy. Now that we have grown, and we are established, I can make a better work environment for my employees and customers.”

The Smiths will bring their strengths in the restaurant, event and catering industries to bear on The Virgil, but planning the full scope of business operations for the space is still in its infancy, MaryBeth Smith said.

While bookings for weddings and corporate functions present additional booking opportunities for Roundabout Catering, other catering companies may also be able to serve clients who book events at The Virgil.

“We really haven’t decided yet,” Marybeth Smith said. “I want to be conscientious of other caterers. I’m giving myself a little bit of time to talk to some people about what other caterers I will let in there. I don’t want people thinking that the only thing they can choose is Roundabout.”

Outside catering companies would likely pay a commission to cater events at The Virgil, a common practice when catering at independently owned events venues, Smith noted.

“We want to be respectful of contracts people may already have in place, especially if they already have chosen a caterer,” she said.

Bar operations is another potential area where the Smiths can boost revenue from The Virgil.

“The bar is a great avenue for revenue, and we are really good at running bars,” Smith said. “We do it for venues, catering, and at our restaurants. We will use the buying power from contracts we already have with vendors to get discounts. Those larger contracts give us better avenues to get the best pricing for our customers.”

The final leg of the stool is to increase marketing efforts for the business space downstairs. The lower level has six rentable office spaces, as well as a boardroom and a breakroom. The Smiths also plan to provide staff to support the office space.

Roundabout Catering

Interior of The Virgil events center at Wells Avenue and Vassar Street.

Rents are quite high for premier commercial space in Midtown, Smith noted, and the office leases provide a nice buffer from scheduling swings at The Virgil.

“There are some really good things we can do to support the people who are renting there because that is nice to help balance the rent, which is very expensive,” she said. “I see it as a real advantage for us.”

Office renters and others can use the app Boardable to schedule meeting space, Smith noted.

The Smiths also acquired Franco Baking Co., in February 2023. Since then, they’ve replaced certain outdated fleet vehicles and equipment, implemented a new sales structure, and increased quality control and protocols.

“It really has improved our lines, and those quality measures will go a long way for us to grow our partnerships.”

Ideally, Marybeth Smith said, Franco Baking will relocate to a modern space with new equipment in three to five years. One of Franco’s largest contracts is serving regional sandwich chain Port of Subs. Colorado-based private equity firm Area 51 Ventures acquired Port of Subs in 2023 with aggressive expansion plans for the sub sandwich shop founded in the 1970s on Rock Boulevard in Sparks.

“We have been working extremely closely with (Port of Subs), we are working on some great contracts with their stores, and we are looking at different things to expand our frozen line,” Smith said. “It is a huge contract, and it has the potential to be even bigger. We will see what happens in 2025. Port of Subs looks strong, and we may have opportunities to grow with their other food lines.”