Global Products, Local Roots

Tucked into a storefront at University Landing, Monaco Market is anything but your average grab-and-go convenience store, and that’s exactly what Prince Rayyan had in mind when he and his brother opened the shop in February.

Instead of the clanging of a bell when you open the door, customers at Monaco Market — located at 419 S. College Road — are greeted with upbeat music and brightly colored displays of exotic food items, inviting them to embark on a global adventure in the heart of Wilmington.

“It’s a whole different atmosphere,” Rayyan says. “Each shelf carries a product from a different country. It’s like you’re at an airport, but you don’t need a passport to travel.”

Rayyan, who holds bachelor’s and master’s degrees in finance from the University of North Carolina Wilmington, was born and raised in the Port City. Like many young people, he dreamed of leaving his hometown one day, but the stars aligned for an idea he and his brother once thought was a distant possibility.

Monaco Market, which has another store in Albuquerque, New Mexico, had been a family business for a couple of years, with Rayyan’s cousin being a partner in that location. When the front-facing unit next to Szechuan 132 became available, they knew it was time to act.

“It was like the golden ticket,” Rayyan says. “We found the location sooner than we expected. So far, we’ve been very popular. Foot traffic is amazing.”

Entrepreneurship is in Rayyan’s blood. He says he grew up in his family’s pizzerias, which gave him a foundation for knowing how to launch a successful business and the desire to be his own boss.

“Growing up here, you know the demographic,” Rayyan says. “You understand how people spend and what products are popular here. We know our customer base and how to reach them in the best way possible and be as affordable as possible.”

With its proximity to UNCW, Monaco Market is popular with the college crowd, but the clientele extends far beyond that, he says.

“We see every demographic,” Rayyan says. “We get the whole age range, every ethnicity. We want to be a place that can cater to everyone.”

He encourages people to try new things, such as foreign varieties of popular candy bars and chips (think squid, scallop, crab and egg) and the popular fruit-shaped ice cream that sells out every week. There are also boba tea and ramen bars.

“We try to keep things fresh,” Rayyan says. “Every week we try to rotate new products onto our shelves. Our goal is to get stuff you won’t find on any other shelf in Wilmington.”

Discovering these new foods is not just about expanding palates, as products from other countries often have fewer and healthier ingredients than what we are accustomed to consuming in the U.S., he adds.

Now that tourist season is kicking off, people from all over are discovering Monaco Market, and the operation is big on advertising to keep spreading the word.

“Marketing is key,” Rayyan says. “We live in a digital age where an advertisement on social media will grasp your attention and force you to go check it out. We want to be known for our branding and atmosphere when you walk in that door.”

Monaco Market is open Monday through Saturday 10 a.m. to 9 p.m. and Sunday 11 a.m. to 9 p.m., with a possibility of expanded weekend hours until midnight by summertime.

“Right now, we’re working on settling down and making sure everything is up and running 100 percent,” Rayyan says.

While the experience of opening Monaco Market has mostly been positive, it has not been without some challenges, such as a fire in one of the coolers one hour after they opened their doors and a large order being stuck in customs for three months, with much of the product expired and having to be discarded when it arrived, he says. But those setbacks have not dimmed his enthusiasm.

“We hope for a great future with this business,” Rayyan says. “I hope we keep retaining our client base and attracting new customers from all over. Hopefully we keep growing as a brand. We’re hoping to expand.”