We recently connected with Jes Peterson and have shared our conversation below.

Jes, thanks for joining us, excited to have you contributing your stories and insights. Are you happier as a business owner? Do you sometimes think about what it would be like to just have a regular job?

I have never been more in love with my life and work. A year and a half ago my dreams came true when I was given the opportunity to purchase a well loved and respected business in my community. This was something I never in my wildest fantasies of entrepreneurial spirit I thought would ever happen. For several years I wanted to open a business of my own but I ran into several speedbumps and reasons why this would never happen for me. Many times since purchasing Kismet I have thought, I could never work for anyone else again, hell I’m probably not even hirable. After owning an operating a successful store front there’s no going back to 9-5.

Jes, 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?

As a lifelong resident of Rochester, MN I have always wanted to do something to enhance the culture of my community. I have a strong background in retail management, visual merchandising and 10 years in the banking industry. Kismet Consignment Boutique has officially been in business for 20 years and I am honored to own it. We are a consignment shop with about 2500 sq ft of ladies fashion, shoes, jewelry, and purses in on trend and vintage styles. We also have about 2500 sq ft of furniture, home decor and collectables with antique, vintage and modern style. Recently we have expanded into our next door space with about 2000sq ft of consignment for dudes. Chappie’s is about 60% male inspired clothing and 40% furniture, decor and collectables. All items in the shop are on consignment which means you bring in your stuff, the best of the best and we sell it for you with a 50/50 split. We truly believe the shop is magic so if you are looking for a particular item you just tell the shop what you want and it will appear. Our staff is amazing, knowledgeable, we have a great vibe and great tunes.

How’d you meet your business partner?

I have been shopping and consigning with Kismet for years and had met the owner Penny on several occasions. Over the years I have often thought what an amazing business this would be to own. A few years ago I was out with one of the gals that that worked at Kismet and was telling her how cool it would be to buy it. I walked in the shop February of 2022 and Penny blurted out “I hear you want to buy my business” um yes I do! The wheels were set in motion and the rest is history.

Can you talk to us about your experience with buying businesses?

I bought the business Kismet, four connected buildings and a parking lot in September 2022. After Penny and I had a few preliminary conversations about the acquisition of the business and properties it was time to get started. There are many moving parts in purchasing a business. You have commercial real estate agents, bankers, lawyers, LOI’s, PA’s, appraisals, phase 1s and inspections to navigate. I was able to secure a HELOC from my mortgage for the down payment and we started the process. We were able to close the deal in about 7 months and the previous owner stayed on with me for three months to show me the ins and outs of the business. Best decision I have ever made.

Contact Info:

• Website: https://www.kismetconsignment.biz/
• Instagram: @kismet_consignment
• Facebook: https://www.kismetconsignment.biz/