We caught up with the brilliant and insightful Callan Paffrath Jamison a few weeks ago and have shared our conversation below.

Callan, thanks for taking the time to share your stories with us today So, what do you think about family businesses? Would you want your children or other family members to one day join your business?

I am apart of a family business going back four generations. My great great grandfather started Paffrath Jewelers in 1926 as a watch maker and passed the business on to his son. He followed the trends of the time and slowly transitioned the business into a silverware and jewelry store as well as watch making. My grandfather then took over the business and fully transformed the business into a fine jewelry store specializing in diamonds and gemstones. He passed the business down to my father who continued with the specializing in diamonds and gemstones who then passed the business down to me. I am the first woman jeweler in my family and have found my niche in custom bridal and heirloom jewelry. I think that working with your family can be very successful because it means more to you than any other job you will ever hold, this can also be very difficult. Working with family is very personal and its hard to differentiate “business” and taking things too personally and critically. It takes time to be able to separate and compartmentalize the business side of things and the family side of things. I am open to my children wanting to be apart of the business if they express interest in it. It is not something I would expect from them though. My dad was always very supportive of all of my interests growing up and eventually I found myself in the store with him. It would be an honor for one of my children to carry on the legacy.

Callan, love having you share your insights with us. Before we ask you more questions, maybe you can take a moment to introduce yourself to our readers who might have missed our earlier conversations?

My name is Callan Paffrath Jamison. I am 4th generation jeweler and owner of Paffrath Jewelers of Owatonna MN. I studied small business operations at The University of Wisconsin – Stout (BBA), received my certificates from GIA and worked for my father for all my childhood in the store. I was always interested in working at the jewelry store but my family nurtured my other interests as well, and made sure that I fully explored all of them before making the decision to dedicate my education to taking over the family business. After I graduated college it was important to my father that I receive outside experience, working for another jeweler, so that is what I did. I was working for another jeweler for about one year when my father was in a tragic accident and he passed away. So here I was, 22 years old faced with a decision. Take over the family business, about 5-10 years earlier than planned, or let that dream go. I decided to dive head first in, with the support of my mother. Without her, I would not be here today. The business would not be here today. With the support of my fathers staff, who are still with my to this very day, the business would not be here today! After many years I have carved out a space for myself in this industry. I pride my self in custom designing and making jewelry that is unique to every single person that seeks me out. I love reimagining heirloom pieces into new modern pieces. I pride myself on taking a bunch of pieces that someone may have inherited from grandma or grandpa and reusing the gemstones and diamonds and gold or silver and making one amazing wearable piece that they can look at and think of them. I love being able to take a photo a potential bride saw online and make their dreams come true and making that for them with the changes they want to make it their own.

What do you think helped you build your reputation within your market?

My father had a very good reputation in our market and in our town. The business was extremely reputable. So me coming in and taking it over I had to maintain this by living by my fathers ethics and morals that he instilled in me. I am a different person and I run my business differently but when it comes to core values, we are the same person and the community feels this I believe. With new management / ownership comes nerves and I had to earn the communities trust and I feel that I have earned that trust after 11 years.

Let’s talk M&A – we’d love to hear your about your experience with buying businesses.

When my father passed, the business automatically went to my mother. My mother has her own career as a teacher and honestly has no interest in the jewelry industry other than supporting me as a silent partner. She and I created a plan for me to slowly purchase the business from her over time. As the years go by I purchase 5% from her. To make it as smooth as possible.

Contact Info:

• Website: https://paffrathjewelers.net/
• Instagram: cpj_jewelers
• Facebook: https://www.facebook.com/cpjjewelers

Image Credits

Angie Knutson Photography