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BARRY PETERSON: A SEASONAL RESORT JEWELER ACHIEVES YEAR-ROUND SUCCESS | October 24, 2012 (0 comments)
Ketchum, ID--"I've been business in Ketchum for 40 years," said designer/jeweler Barry Peterson of Barry Peterson Jewelers. "That's pretty long for a place in a resort community. "
Peterson sees lots of shops that come and go every two to three years. He says they often can't figure out how to handle themselves during the off-season. So what's Peterson's secret?
"We have clients all over the country," says Peterson. "We bring in a considerable amount of custom orders and custom work to keep us busy during the slower months. If we're not doing that, we're manufacturing inventory."
Barry Peterson Jewelers began as a custom business. As it grew initially, Peterson ran the store, manufactured and designed the jewelry and sold it -- all himself. "I sat at the bench for the first 30 years here," said Peterson. "I was trained as a diamond cutter (at the American Institute of Diamond Cutting). I'd also had previous businesses in several cities across the west. I did a wholesale business back in my teens. I've been cutting stones and doing lapidary work since I was six. My current store itself is based around being a full-service jewelry store; today we have four full-time jewelers and a sales staff of four."
Two interior views of Barry Peterson Jewelers.
Peterson's two best-selling signature lines are the Sun Valley Sun and the Snowflake Designs in a variety of sizes from a dime to a silver dollar size. "Those are two items that the ski crowd likes," said Peterson. His Sun Valley Sun is based on the actual Sun Valley Resort logo. Peterson was commissioned in the 70's by the owners of the resort to make the jewelry. He's been making the trademark sun for 40 years. "Other jewelers make the sun, but not the logo ones," says Peterson.
The Sun Valley sun is a favorite motif for skiers who frequent the area.
Peterson stocks and sell more than his own jewelry. "We carry lots of other lines," he says. "We also carried watches until recently. We made the decision to get out of the watch business; now it's just jewelry. It's been a year and we think it's been a good move." The other jewelry lines they carry are contained in his 1,200 square foot showroom. "Our whole business is three stories. The shop is upstairs, sales on the main floor and the basement for storage." Peterson retired from the bench ten years ago but still does CAD/CAM designing. "We introduced high-tech to our store and just added a second CAD designer to help with the business."
Peterson's flair for design isn't limited to jewelry. Peterson lays out most of his store's advertising himself; he'll help with the new website being designed by a local agency; and he and his staff just finished their 40th anniversary catalog, a 48 page piece with mostly Peterson's products.
So what's it like having a business in a resort town? "It definitely has its ups and downs," says Peterson. We have definite seasons, summer and ski seasons. In between we have two months in the spring where we're not busy with customers and no one is here. Then the fall colors bring in people. November is pretty quiet as is much of December. Much of our traffic depends on the amount of snow. Last year, we had good skiing, one of the few areas that did. Lots of places did not."
Peterson's customers are made up of both regular clientele and tourists. "I've been here so long that the 2nd home owners save their repairs when they come out," said Peterson. "Some stay just a few weeks and some the whole winter. I have clients who live in Manhattan, Maimi, Connecticut, all over. It's more convenient for them to deal with me when they are here. Lots of my clients come in and shop as husband and wife, which is often hard for them to do at home."
Barry Peterson at his desk.
Peterson's shop has seen plenty of activity in the last few years. "I've noticed when the economy isn't so great that our shop is busier than normal," he reports. "During the slow times, people remodel what they have and work with the pieces they own." Peterson also does estate purchasing, remodeling jewelry and lots of bridal.
Peterson reaches his customers through color print media through local magazines and direct mail (such as their new catalog). "We're always pushing to get our name our there," says Peterson. His new catalog had an initial print run of 10,000. Right now, 2,000 are circulating and "getting a good response."
"We're also on Facebook and Twitter," said Peterson. "My staff and my daughter do a lot of it." Peterson has also found an efficient way to move old inventory -- via an eBay site. "I'd been wanting to do it for years," he said. "Last year, I got Candice, my wife, involved and now it's moving. It's running all the time and we've sold pieces all over the world. It's been a good vehicle for us. It's spurred me on to think more out of the box and 'get out of town' with our product." Peterson uses the 'sell it now' feature on eBay rather than auctions. He also lists his products under another business name.
Peterson doesn't advertise it, but he does buy gold and jewelry off the street. "We've always taken in gold and jewelry in trade for work. We broker estate jewelry as well."
In his off hours, Peterson stays busy. He rides motorcycles and helps build custom ones. His new home is part of the Ketchum Sun valley Library Tour of Homes, described by Peterson as a "crazy contemporary house."