Tom Peterson facts for kids

Thomas Howard Peterson (born February 23, 1930 – died July 25, 2016) was a well-known businessman and TV personality from Portland, Oregon. He was famous for selling electronics, home appliances, and furniture.

Tom Peterson opened his first store in 1964. Over time, it grew into a chain of stores across the region. He became very recognizable in the Portland area because of his memorable TV commercials and fun promotions. He even appeared in some movies!

In the early 1990s, Tom Peterson's business faced some money problems. He had bought other electronics stores but couldn't make them work well together. He had to close some stores and restart his business in a smaller way, focusing mainly on furniture. He kept appearing in his own commercials until the early 2000s. His last store closed in February 2009.

Tom Peterson's Early Life

Tom Peterson was born near St. Paul, Minnesota. He grew up on a farm. His father worked for the government. Tom studied business at the University of Minnesota.

When he was 14, Tom met his future wife, Gloria, at a church camp. They got married on September 20, 1952.

Building a Business

Starting His First Store

Before opening his own store, Tom Peterson worked for ten years at the Jolly Green Giant Co. He became a manager for 17 food processing plants. In 1963, he decided to start his own business.

He sold his home for $10,000 to invest in the new store. Tom and Gloria moved to Portland, Oregon. He opened his first store in 1964.

In his first year, Tom's store made $300,000 in sales. By 1989, his sales had grown to $30 million a year! This is when he became very famous in Portland.

Growing Across the Northwest

By the early 1980s, Tom Peterson's was one of the biggest electronics stores in Portland. He opened more stores in places like Eugene, Gresham, and even Spokane, Washington.

However, he later closed these faraway stores. He felt he couldn't offer the same personal service if he wasn't there himself. Tom's children also worked in the family business.

Tough Times and a Fresh Start

Facing Challenges

In 1989, Tom Peterson bought another chain of electronics stores called Stereo Super Stores. He paid a lot of money for them. He tried to combine them with his own stores.

The former Tom Peterson's store at the corner of SE 82nd and Foster.

But things didn't go as planned. In 1991, Tom had to close his Jantzen Beach store. Soon after, his company faced serious money problems and filed for bankruptcy. This means a business asks for legal help when it can't pay its debts.

Tom said, "I should have listened to my wife. She said, 'Don't buy Stereo Super Stores.' She was right." He realized that buying those stores had caused many problems.

He closed his furniture store and focused on his two remaining locations. Even during these tough times, he kept his commercials on TV. His ads even talked about the bankruptcy, asking customers to support his store.

Reopening as Tom Peterson & Gloria's Too!

In September 1992, Tom Peterson reopened his business at his original location. The new store was called Tom Peterson & Gloria's Too! It was a fresh start.

Sign outside last Tom Peterson's location in late 2008.

His son-in-law, Robert Condon, became the president. His daughter Kathy was the accountant, and Gloria Peterson managed the money. Tom remained the main face of the company, appearing in all the ads.

They even sold special Tom Peterson watches and alarm clocks that had been bought from the bankruptcy sale. This helped raise money for the new business.

By 1995, the store was doing well again, making $5 million in sales each year. In the mid-2000s, the store moved to a new location nearby. The very last Tom Peterson's store closed on February 28, 2009.

Famous TV Commercials

Tom Peterson was famous in Portland for his local TV commercials. He wrote and starred in them himself. He had a special flattop haircut and catchy phrases like "That's Tom Peterson's!" and "Free is a very good price." He called his store "the happy place to buy."

Many people in Portland recognized him. He often sponsored and appeared live at Portland Wrestling shows to advertise his products.

"Wake Up!" Ads

His most famous commercials were the late-night "Wake up! Wake up!" spots. These started in the mid-1970s. Tom got the idea from another store owner.

He kept his stores open until 3 a.m. to welcome customers who saw the late-night ads. These "Wake up!" commercials ran for many years, making him a local legend.

His Unique Style

Tom Peterson always wrote and starred in his own commercials. He believed that having the store owner on TV made the ads more successful. He continued to make commercials into the early 2000s.

Fun Promotions and Giveaways

Tom Peterson was known for his unique ways to attract customers.

Free Haircuts

In July 1986, Tom offered free flattop haircuts to anyone who visited his new store. He hired barbers to give haircuts right in the showroom! He had gotten his own first flattop in 1952.

This became a weekly event. He continued offering free haircuts for over two decades. Even in 2002, he was still giving away about ten haircuts every week.

Cool Masks and Clocks

For Halloween 1986, Tom gave away free cardboard masks with his face on them. All 5,000 masks were gone in just one year! He thought about making more realistic masks but decided against it. He didn't want anyone to rob a bank wearing his face!

A Tom Peterson alarm clock in 2009

In 1990, he introduced a special alarm clock. It looked like a tiny TV with his face in the middle. The alarm was his voice saying, "Wake up! Wake up to a happy day!" He thought putting his face in 5,000 homes would be good for business.

The Tom Peterson Watch

Tom said his most successful promotion was the Tom Peterson watch. It also had his face on it. He said it was very popular with college students and became a "cult thing." Even famous musician Kurt Cobain wore a Tom Peterson wristwatch!

Other Promotions

Tom Peterson also gave away hats, T-shirts, cups, and coloring books. He even turned a bus into a trolley to drive customers around his store's parking lots.

For the tenth anniversary of Tom Peterson & Gloria's Too! and his 50th wedding anniversary, he gave away coffee mugs. These mugs had pictures of Tom and Gloria from 50 years ago and from the present day.

Later Life

After his business faced challenges, Tom Peterson also became a motivational speaker. He gave talks to inspire people until 2001.

He lived with his wife, Gloria, in Happy Valley, Oregon. He enjoyed hunting birds. In his later years, he suffered from Parkinson's disease. Tom Peterson passed away on July 25, 2016, at the age of 86.