Phil Stevens is deliberately working himself out of a job.
The 72-year-old local businessman is retiring after more than 50 years in the jewelry trade. During that time he's done everything from being a travelling salesman to running his own business.
He's selling all his inventory. The goal is to have it all sold out by about Christmas Eve. The storewide clear-out sale began this past Thursday, Oct. 18.
Stevens has two full-time employees and one part-time worker. He says he's given them lots of notice about his decision and he's hopeful they'll find work.
"They're all going to stay until the end."
They might even be able to continue working in the jewelry trade, because Stevens says he already has a couple of local people "sniffing around" his business, so he's confident someone will buy it and keep jewelry and watch retail in Olds.
He concedes he'll still likely be tinkering around in the jewelry trade a bit from home because some people have already let him know they'll be bringing watch repairs, etc. to him.
Stevens says by selling all his inventory, he makes the business more attractive for prospective buyers.
"The jewelry trade's unique in a way. Unless you're a big chain, you don't really get to see one business entity to another," Stevens says.
"The problem (with our business) is we carry such a large inventory. (Nobody wants to take that on) when they can make more just putting that same amount of money in a bank and putting it in a GIC (guaranteed investment certificate).
"If we close out and somebody comes in without any inventory, they can buy that business as a going concern at a realistic price and make a go of it," he adds.
"That happens quite a bit."
Stevens grew up in Jasper and got into the jewelry trade in Calgary. He later moved to Didsbury where he operated a jewelry story for several years before buying Hawthorne Jewellers in Olds in 1984.
At that time, it was located in the building that housed All Your Pets. In 2010, Stevens moved the business to its present location (the former Bank of Montreal) at the corner of 50th Avenue and 51st Street.
Once the business is sold, he plans to remain involved in the Olds-Didsbury Airport. Stevens was a pilot for many years. He and several hangar owners, mechanics and geologists combine to operate the facility.
Stevens and his wife, Marg, 70, also plan to do some travelling.
But he's coy about what else he might do.
"I love business," Stevens says. "I've got a couple of things that I'm looking at."
