Today we’d like to introduce you to Bob Petersen.
Thanks for sharing your story with us Bob. So, let’s start at the beginning and we can move on from there.
I started work at colonial stores as a stock boy in 1961, the same year I met my wife of 52 years. I worked in the store and found I really enjoyed selling as well as being in charge of the stock. The owner lived in Boston, and after a couple of years took more time away from the store, relying more on me. I worked after school, weekends and eventually full time, with a family of 4. The owner became very ill and the staff and I ran the store. I would eventually go into Boston 3-4 times a week to keep him informed as to the business. He eventually died and his estranged wife came back into the picture, relying on me running everything. She put the store up for sale and had a couple of offers for less than she wanted, both wanting a 3 year minimum contract from me. To this day I don’t know why I said no, earning $110.00 a week with a wife and 2 children, and no other prospects for a job, but I did. I then offered her the full price she was asking and told her I would send her a check weekly. The accountant knew me and was very aware that I was running things and suggested she give me a chance, and that was April of 1970. I expanded the concord store, then bought a store in Lexington, and opened a new one in Andover. I sold the stores in Lexington and Andover, but still have the original store in concord 56 years later, and I’m 72 years old still working.
Overall, has it been relatively smooth? If not, what were some of the struggles along the way?
There were a number of times that it became financially difficult, and it pretty much coincided with the economy not performing well. You learn quickly how to run lean, watching your inventory closely, which in those days without computers was not easy and cut whatever expenses you could.
Today, the internet is the biggest single threat to small retailers, I don’t think the future looks too bright. Thankfully we have a lot of repeat customers.
Alright – so let’s talk business. Tell us about COLONIAL STORES – what should we know?
We have been serving the residents of concord and surrounding towns with quality products and exceptional service since 1960. We’re located in downtown concord.
Colonial stores is a women’s specialty store that offers department store brands as well as hard to get items from some very unique suppliers that are hard to find. We truly are the specialty store with department store selection.
I am most proud of the staff that are so very very helpful and are the reason we have so many repeat customers.
Any shoutouts? Who else deserves credit in this story – who has played a meaningful role?
My staff deserves all the credit.
Contact Info:
- Address:
24 Main Street
Concord, Ma 01742 - Website: www.colonialstoresconcord.com
- Phone: 978-369-5000
- Email: COLONIALSTORES@AOL.COM
- Facebook: Www.facebook.com/colonialstoresconcord
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