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Home » After decades in business, River Ridge, Peters Hardware remain neighborhood staples

After decades in business, River Ridge, Peters Hardware remain neighborhood staples

Customer-centric focus is main objective at two longstanding hardware stores

River-Ridge50_web-copy.jpg

Larry Myers owns two neighborhood hardware stores in Spokane County, River Ridge Hardware and Peters Hardware, which have been celebrating 70 and 90 years in business, respectively, this month.

| Erica Bullock
April 25, 2024
Erica Bullock

On a sunny Monday afternoon in northwest Spokane, a steady flow of people browse the tight aisles at River Ridge Hardware store, where customers of all ages shop for paint, tools, yard and home decorations, pet items, snacks, and ice cream at the 70-year-old home improvement outlet.

Owner Larry Myers says business typically picks up when the weather is nice, as it was on that first work day following a weekend of 70-degree temperatures.

"We will almost double our business on a sunny day versus a rainy day ... because people are excited about doing things in their yards and on their houses," he explains.

Myers owns River Ridge, at 2803 W. Garland, and another longstanding neighborhood hardware store, Peters Hardware, at 12118 E. Sprague, a few doors east of the Spokane Valley Heritage Museum. River Ridge and Peters hardware stores are owned through Myers' holding company Summer Walker LLC. He declines to disclose the annual revenue for both locations.

The company has a total staff of 27, including 13 full-time employees at River Ridge and four full-time employees at Peters.

"My tagline is 'neighbors helping neighbors,' which I truly believe, and that's what I try to make sure all my employees understand is that we're here to help our customer base," he says. 

Sales and customers have grown steadily during the company's 90 years in business, he says.

Despite the rising cost of goods due to inflation, competition from big-box home-improvement retailers, and a lean workforce, repeat customers comprised of do-it-yourselfers, property maintenance companies, and other small businesses consistently support the two shops because of a customer-centric philosophy of service, he says.

"Both River Ridge and Peters are neighborhood staples," contends Myers. "You might save a dime going to the big-box stores, but by the time you walk out of your car into the store, I've already helped a customer and they've left with a smile."

Peters Hardware and River Ridge Hardware are members of Do it Best, a Fort Wayne, Indiana-based hardware, lumber, and building materials cooperative.

"I use them for my marketing. I use them for sales, and I use them for my e-commerce site," Myers says of the Do it Best co-op. "I don't have to. I choose to take advantage of the sales where some other hardware buying powers would force you to have things on sale."

In addition to marketing support and greater purchasing resources, Do it Best also supplies and delivers weekly trucks filled with replenished stock and seasonal items.

At Peters Hardware, most customers are small business accounts, rental maintenance companies, and a few nearby homeowners. Myers currently is working to increase revenue there by targeting more residential homes in the area, as Peters only handles a quarter of the overall sales of River Ridge Hardware.

Mailers, promotional events, social media advertisements, and email campaigns will ramp up this year in an effort to drive sales activity by 10% to 15% from 2019, he explains. 

"I've changed up marketing ideas," Myers says. "I'm trying to build up that base of homeowners who are under the age of 50 to think about Peters." 

An e-commerce platform has been introduced for both of the stores. He's also revamped a rewards program to accept and store customer email addresses that the company will use to announce upcoming sales. A new movers program is now available as a way to introduce new residents in the community to the store with a coupon for a free house key to be made at Peters.

Some younger customers are using the website to check product availability before stopping by. Others prefer having the option to shop in person, where they expect to find answers from knowledgeable employees who can offer project and product advice.

"That's how we've stayed relevant and changed with the times," says Myers. "Neighborhood hardware stores have a purpose. As long as that purpose is being met in terms of helping customers and offering product at a reasonable, competitive price, those stores will stick around."

Myers purchased River Ridge Hardware in 2017 in a transaction that brought the 59-year-old former mortgage lender back to work in the Audubon neighborhood where he grew up. He bought Peters Hardware in 2021 from third-generation owner Gary Peters.

River Ridge was founded by Hal Norrie in the 1950s when the business was first located at 4417 W. Wellesley. In 1983, Brian Poirier purchased the company and moved operations about 1 1/2 miles southeast to Garland Avenue. 

"Sometimes, it's just being in the right place at the right time," he says of the River Ridge purchase. 

Myers graduated with a degree in communications from Eastern Washington University in 1990. He left the banking industry after a 22-year career, where he connected with Poirier, he says. 

After two decades in the banking industry, Myers says he was looking for a change when he took a chance to become an entrepreneur by making an offer to purchase River Ridge.

"I was one of those DIYers and frequented his store," explains Myers. "I said I'd be interested in purchasing it ... in 2014. In 2016, he reached back out to me ... and the rest is history."

This month, Peters Hardware and River Ridge Hardware are celebrating 90 and 70 years in operation, respectively. In the next three to five years, Myers says he has a few updates planned at Peters for a tool rental department and a garden center addition.

"I don't see any major changes happening here at River Ridge other than changing with the times and carrying products our consumers find relevant," he notes.

Instead, at River Ridge, Myers will spend more time promoting the custom frame shop business located inside the store, dubbed Frame it Today.

The continued longevity of the two hardware stores will depend on ongoing community support and the popular do-it-yourself home improvement trend that was spurred by the onset of the pandemic.

"With homeowners, there are always projects," says Myers. "During tougher times when people are staying home and vacationing less ... they're looking for a way to make their house livable."

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