You might know Megan Keith from previous story spotlights – the serial entrepreneur most recently owned TwistedThreadsbyMegg, a unique yarn store at 119 North Main Street in downtown Tipton. After deciding the niche business idea was not sustainable for the area, Keith transitioned her downtown brick-and-mortar store to a small discount shop that quickly outgrew the Main Street location.
Now called Penny Pinchers, the new discount store in Tipton has quickly become a favorite shopping destination for budget-conscious residents. Having opened in 2023 and moved to a new 4,500-square-foot space in late 2024, the store offers a wide range of affordable items, including household goods, clothing, and seasonal merchandise, making it a one-stop shop for families and individuals seeking quality products without breaking the bank. Items change daily, which has helped to build a base of loyal, repeat customers for the relatively new retail store.
Penny Pinchers has brought energy to the area, attracting a steady stream of customers and creating new jobs for the local community – and regulars who love the store so much that they have become part of the nine-person staff. Penny Pinchers meets the needs of diverse shoppers from Tipton as well as some shoppers from Frankfort, Anderson and Noblesville, while maintaining a commitment to value and quality – something Keith is proud of.
“There’s a lot of discount and liquidation-type stores around, and I think some customers steer clear of them because it’s not well-organized or presented,” Keith says. “We really pride ourselves on quality control, sifting through every delivery to make sure we’re selling great products, not junk, and presenting our products with nice displays throughout the store.”
Penny Pinchers specializes in a wide range of discount items including apparel, office supplies, home goods, gift items, pet supplies, beauty supplies and cosmetics, baby supplies, books, accessories and much more. The new discount store takes pride in providing additional offerings such as military and first-responder discounts, and being handicap accessible to cater to all customers’ needs.
“The people here are really great,” Keith says. “The entire community is. Our business has felt so welcome here and Tipton locals are just so supportive. We try to give back where we can to show our gratitude.”
Keith says she also puts products that might have minor damages, like a handful of slightly crooked Christmas trees, behind the store for pickup, and will post on social media that the items are free for whoever is in need on a first-come, first-served basis.
Penny Pinchers will soon start a loyalty program through which customers’ visits will be tracked, and for every dollar they spend, they’ll receive a point that will earn a coupon. Keith sees an estimated 500 to 700 customers per week and wants to reward her clientele.
Keith is supported in her busy store by nine employees, including six full time and three part time. A handful of these are family members, making it very much a family business.
“I’m really proud of building this business from the ground up,” Keith says. “Starting from scratch is a lot of hard work and I think we’ve done a really good job so far of figuring out what works and how to make people in the community happy with our product.”
Keith is excited to grow her business in the heart of Tipton with brand-name items up to 60% off. With new items arriving daily, the Penny Pinchers team can’t wait to meet you.
You can contact the store at 463-273-8492 or by emailing pennypincherstipton@gmail.com. The store promotes additional sales and events on their Facebook page @pennypincherstipton. Also visit pennypincherstipton.com.