After completing five years of apprenticeship, he became clerk at a mercantile house in
Strassberg where he worked for two years. In 1841, he decided to leave
Germany and try his fortune in the United States. He landed in
New York City at 22 years old in December 1841, From 1853–54, he established tanneries at
Fort Wayne, Indiana, and
North Evans, New York, operating the latter for 20 years, and in 1857, he made his first large investment outside the tanning business, erecting the "North Buffalo Flouring Mills," which proved so profitable that he continued his investments with
flour mills, ultimately becoming one of the largest operators of flouring mills in the
Empire State. In 1870, he bought the "Frontier Mills of Buffalo," and later erected extensive mills in
Niagara Falls, New York. He did not retain many of these interests long after setting them up. His approach was to ensure they were successful and sell them at a profit to enable him to seek out new outlets for his increasing capital. However, he owned the later milling and tanning interests until his death, some being held in his own name and others as senior of the milling firm of "Schoellkopf & Matthews." Schoellkopf was president of the company at the time of his death, after which each son found a place in Schoellkopf's various business ventures. The
Niagara Falls Hydraulic Power & Manufacturing Company was later shortened to "The Hydraulic Power Company," and during
World War I, the company was consolidated with the
Niagara Falls Power Company, owned by
Edward Dean Adams, under the latter name, but with the Schoellkopf interests predominating, an enterprise involving some $62,000,000 (). , formerly the Schoellkopf Aniline and Chemical Works, Following the formation of the
Niagara Falls Power Company in 1918,
Schoellkopf Jr. was elected chairman of the board for the corporation, a position that he held for eighteen years. Jacob Frederick III, Paul Arthur (the son of Arthur Schoellkopf), and other third-generation members of the family also continued to be involved as directors and stockholders of the company. In 1929, they organized the Niagara Share Corporation as a trust for all the stock owned by family members. The company continued to hold stock in the power utility until 1956.
Other business ventures In 1867, he was on the
Board of Directors for "Buffalo German Insurance Company" along with Henry Persch and William Hellriegel. He served as the vice president of the "Third National Bank of Buffalo", and was on the boards of "Merchant Bank of Buffalo", "The German Bank of Buffalo" and "
Farmer and Merchant's National Bank." In 1879, Schoellkopf started the "Schoellkopf Chemical and Dye Company" for his two sons. In 1882, he was president of Buffalo's Board of Trade. In the 1880s and 1890s, he served as a trustee for the Bank of Niagara and the Power City Bank, both in
Niagara Falls, New York. He also held the presidency and served as a director for the Citizens’ Gas Company of Buffalo along with serving as vice president of the
Buffalo, New York & Philadelphia Railroad. Lastly, he served as a trustee for the
Buffalo General Hospital. ==Personal life==