STREETS AHEAD
As a community news and events website at the heart of TEDDINGTON we hope we can provide support for local businesses, whether they are well-established or new in town. We are deeply aware of the challenges many businesses are facing post COVID and now high utility bills and rent and rates increases. We must count ourselves as very fortunate to have such a vibrant and diverse business hub in both Broad Street and High Street as well as the amazing collection of cafes and restaurants which the local community seems to support so wholeheartedly! We hope to carry various feature-style profile pieces about local businesses, enterprises and entrepreneurial ventures and hopefully bring them to the attention of a wider audience as well as drive new potential business. Today we focus on STREETS, which is the new jeweller on the High Street, now owned by PAUL STREET
So, Paul it’s all change at Streets, which of course was known as Nichols the jewellers for many years. What happened?
Yes after 20 years of Laurence owning the business I have bought it from him. I have 23 years of experience and my colleague Kath has 15. I have already had two young ladies on work experience and I hope to offer an apprenticeship soon.
What would you say is the difference or differences between the new and the old business?
Pretty much everything for the moment has remained the same except that Mondays will generally be closed so I can go up to Hatton Gardens for Gems Gold etc. We have reintroduced cleaning & polishing on the spot and customer valuations so far and will be bespoke making gents jewellery in the near future.
All business is tough at the moment, energy bills, rates and rent, is your business quite resilient to those changes?
I am, as a new business owner, reasonably shocked at the cost of energy and rates and hoping like everyone else that in time rates might dramatically reduce.
You have quite an exclusive slot in the High Street as the only jeweller give us some idea of what are the best sellers?
We work hard to sell whatever the customer requires, whether it be a traditional solitaire or a bespoke item personally designed. Most of our diamonds are GIA certified so are non-conflict and we also specialise in sourcing unusual stones. We sell items in silver as low as £15 so it can be a quick and easy purchase.
Is the business very Teddington focussed or do people come from afar?
We are extremely lucky that most of our business is word of mouth and existing customers who have been coming to us for years from as far as Devon, Wales and even Australia. We count ourselves as very fortunate in that respect and are very grateful for that breadth of support and loyalty.
Would you say you specialised in a certain kind of jewellery which gives you a point of difference?
We specialise in all aspects and types of jewellery. Wedding bands and engagement rings feature highly, but we are making many more interesting items lately such as paw print pendants and talisman pendants. We will try to make anything if we think it’s possible.
What would you say was the average spend of your customer?
We don’t really have an average spend. It could range from a £15 battery to a bespoke ring to the value of £15,000. The majority of our takings are probably repairs ranging from £10 – £80.
Teddington is probably more popular than ever as a place to live, what do you like about Teddington?
We love Teddington for the buzz, the consistency and reliability of our customers and also we love popping out to see how other businesses on the High Street are doing. I think we all try hard to support each other as part of a vibrant business community.
I understand you still do some work with Laurence. Can you tell us about that and what he’s up to ?
Currently, Laurence is still involved in making and dealing with bespoke items for me, hopefully for the foreseeable future. Obviously, his knowledge and experience is priceless.
Do you believe jewellery is still a good investment?
Jewellery as an investment, yes, if its bespoke made it’s priceless as well as having significant sentimental value to the owner.
Are you seeing any evidence that the economic climate is impacting the High Street activity and spending in Teddington?
I think most people have budgeted for this if they intend to get married or engaged. These are major events for people, so, to be honest, we have not really noticed this too much and people always need their repairs done so we have been extremely lucky and we appreciate our regular support.
Give us an example of a good bargain or what you consider to be good value for money at the moment?
Gold is very high in price at the moment due to the various crises like Ukraine and the world economic challenges so currently platinum is at a very good price. We can also re-use customers metals and melt them down, take out any impurities and start from scratch with them which is dramatically cheaper than buying new materials.
