Bill Barnett is the owner of Barnett Jewelers on the ground floor of Independent Square.
WHAT IS YOUR ROLE?
“I’m president of the company. I run the corporation and handle all the financial aspects.”
WHAT ITEMS DO YOU SELL?
“It’s all personal jewelry. Most of our business is done in diamonds, gold and precious gems. We do about five percent in giftware.”
HOW DO YOU DECIDE WHAT TO PURCHASE?
“I get everybody else involved. The key is to buy a broad selection and try to make ours a little different.”
THE FAMILY JEWELS
“My grandfather started the business in 1917. My father came in after World War II and I started here in 1971.” Susan Ricke, Barnett’s sister, is the store’s manager.
EDUCATION
Barnett has a bachelor’s degree in business from Georgia Southwestern University.
WHY FOLLOW IN YOUR FAMILY’S FOOTSTEPS?
“I searched the market and didn’t find anything that I thought I liked better. My father said to try it for two years.” Barnett has been on the job for 31 years.
WHY SET UP SHOP THERE?
“We began here [Independent Square] in 1976. I had seen the concept in larger cities. When this building was built, I was friends with the director of Independent Life. We both thought it was a good match. We are one of the original tenants, but it was opened as a second store. The one on the corner of Adams and Laura streets was established in 1947. There were five stores at that time.”
WHY SCALE BACK TO ONE?
“The economy turned south. It’s a lot easier to run just one.”
WHAT DO YOU LIKE ABOUT DOWNTOWN?
“We have banker hours, which is just unheard of in the retail industry.”
DO YOU THINK DOWNTOWN RESIDENTIAL WILL CHANGE THAT?
“It would have to change a whole lot, but we work by appointment at any time.”
WHAT’S YOUR BUSINESS PHILOSOPHY?
“We have a personal relationship with most of our customers — many are fourth generation customers. We try to establish that relationship, so that when you think of jewelry, you think of Barnett.”
DESCRIBE YOUR CLIENTELE
“We found a niche market. In this building, it’s definitely professionals — lawyers, CPAs — but most of our business is from outside the building. We ship jewelry all across the U.S.”
WHAT DO YOU ENJOY ABOUT THE BUSINESS?
“Dealing with people in a happy time. The divorce ring has yet to catch on. Most people are getting ready to celebrate so they are looking to enhance themselves or someone they love. To see that look in her eyes when she puts on that engagement ring or to get that ‘Wow’ is rewarding.”
WHAT’S MOST CHALLENGING ABOUT THE BUSINESS?
“The industry has changed over the years to where a lot of people think of jewelry as a commodity instead of a luxury. We design the exact piece they want using our own diamond setter. We try to keep the romance in the industry.”
HOW IS THE COMPETITION?
“The competition has gotten more fierce as Jacksonville has grown but we have maintained our market share well.”
HOW ARE YOU DIFFERENT?
“Our ethics. There are so many people coming into the industry that, in my opinion, aren’t truly ethical. Jacksonville doesn’t have that problem but it puts a damper on the industry. You have to keep yourself above that and not get discouraged.”
HOMETOWN
Jacksonville.
THE NEXT GENERATION
Barnett and his wife Amy have three children, Angela, Oscar and William Allan. They reside on the Southside. When he’s at home, Barnett enjoys reading magazines or watching a James Bond movie. His other pleasures include golf, dining at The River Club and traveling with his wife. Barnett is also a board member of the Florida Jewelers Association.
— by Monica Chamness