A true example of American entrepreneurial success: Cody Gottman, owner-operator of H. D. Bean Jewelers in Carmi speaks to the Carmi Kiwanis Club on August 1.
Local businessman, Cody Gottman, owner/operator of long-time jewelry store, H. D. Bean’s Jewelry, was the guest speaker at the Thursday luncheon of the Carmi Kiwanis Club.
Gottman grew up in Owensville, Ind., and, as a teen, had worked for his uncle who owned jewelry stores in Mt. Carmel and Princeton, Ind. Therefore, he was somewhat familiar with the business and had observed his uncle’s success in the business. Nearing graduation from high school, he had no interest in going on to college. Discussing his future one day with his mother, she said it seemed he had two options available: either to join the military or get a job. That got him to thinking about one day owning his own business like his uncle.
His skills were in art and design, and he thought it would be cool to design jewelry. So he applied to Gem City College in Chicago in an eight-month training program in jewelry design. Upon completion of his training, he applied to Droste’s Jewelry in Evansville. He was called for an interview, but instead of an oral interview, he was asked to show his skills by a bench test, which consisted of designing a piece of jewelry. He was hired on the spot and continued there for the next three years.
One day in 2014 while at work, his uncle called him and said a very good jewelry store in Carmi, IL was for sale, and asked if he would be interested. His first question was where is Carmi, IL.? The end result was that he and Barb Kearney, owner of H. D. Beans at the time, seemed to connect, and this young man of 22 years of age now had his own jewelry store.
Starting out on a shoestring budget with inventory mostly held over from the previous owner, he focused his attention on increasing his online presence through social media, offering in-store repairs, custom-work designs, expanded inventory, and modernizing the showroom to give the appearance of a high-end store with lower-end competitive costs.
Fast forward…going on six years strong, the business has flourished much better than expected. The building has been purchased and paid off. His customer base has continued to grow not only in White County, but also in the Evansville market. In fact, he now has customers as far as California, largely due to his on-line presence. Another major change in his life is that he is now married to the former Hanna Roe, a teacher in the Carmi-White County School District. He says he is now locked in to growing his business and life in White County, IL.
When asked the question about his success thus far, he credited hometown service as a major factor. Because he is a certified jewelry designer and repairer, he can take care of customer’s needs without having to send the work off to be done. He also stated his pricing is very competitive to other markets, including the Evansville market.
The American staple in the jewelry business is engagement and wedding rings. He prides himself on being able to provide the right fit to the needs of customers, be it a low-end option or a high-end product.
In addition to the retail sales part of the business and the repairs and custom design work, Cody indicated he also dabbles in buying and selling raw silver and gold, along with scrap gold and investment silver, and gold such as coins. Another aspect of the jewelry business is appraisals, which he offers.
When asked why he didn’t change the name when he purchased the business he said, “You don’t rebrand a business name when it has a 75-year history of a strong reputation.”
In conclusion, he invited everyone to stop by the store or to visit through social media and/or Instagram.
In club business, Jack Jordan was a guest of his father, Jeremy. Bob Endicott was the 50/50 winner, but failed to draw the orange golf ball, and visitor Jack Jordan’s name was drawn for the $10 gas card donated by Huck’s. President Katelyne Wolff reminded members there were only 71 days to Corn Day.
