On St. Patrick's Day in 1985, Tom Farnsworth, Rick Bellaire and Kristin Kearney opened an independent record store on Thayer Street. When it closes at the end of this year, it will be the latest in a long line of independent stores to shutter on Thayer.
Tom's Tracks has survived a downturn in album sales in the last decade, but its doors will close partly because its namesake, Farnsworth, is suffering from deteriorating health.
"I had planned to call it quits when I had my 25th anniversary," Farnsworth said. The store will shut down after almost 23 years in business.
Over the course of the '80's and '90's, many retailers opened and closed record stores on Thayer Street. "Twenty years ago there were probably six record stores on Thayer Street," said Bellaire, the store's assistant manager and chief merchandise buyer.
In addition to Tom's, there are only four other independent record stores left in the state, Farnsworth said. The store's only remaining competition consists of the chain stores in the Providence Place Mall, he said.
The music industry as a whole has suffered over the past decade. According to the Recording Industry Association of America, the recording industry grew from a net value of approximately $8 billion to $14 billion between 1991 and 2000. However, between 2000 and 2006, the industry shrank to $11 billion.
Farnsworth was able to maintain his business by overseeing the store in person. "I was able to keep going because I didn't have to hire retail counter help," said Farnsworth, who worked at the store seven days a week from opening to closing for several years.
But Farnsworth's deteriorating health will partly force the store to close. Last October, he was diagnosed with multiple sclerosis. Additionally, he has suffered 14 strokes to date. In November, Farnsworth cut down on his hours after suffering from a stroke. In January, he became blind in both eyes. Around the same time that Farnsworth's health deteriorated, the store's profitability suffered, Bellaire said. "I wouldn't be closing this year if I could go in," Farnsworth said.
Neither Farnsworth nor Bellaire could pinpoint the exact reason they were able to stay in business for several years while other stores closed, but both cited their customer-centered atmosphere as one of their strongest attributes. "I don't think the other stores were as service-oriented as I am," Farnsworth said.
The staff has always been very knowledgeable about music, Farnsworth and Bellaire said. "Everyone who worked at Tom's was either a musician and/or a serious record collector," Bellaire said. The store also offers a money-back guarantee with no questions asked - a convenience that most chain stores do not offer. Bellaire said that despite being an independent store, Farnsworth always tried to keep his prices competitive.
As the music industry weakened, the store found its own niche. "We decided to concentrate on collectibles - especially used vinyl," Bellaire said. But selling collectible music couldn't make up for lost sales in non-collectible CDs. "It's been getting tougher and tougher," he said. In the past, college students frequented the store, but in recent years fewer college students walk in. "People just don't buy CDs anymore," said Bellaire. "We haven't really picked up any new customers in the last couple of years."
"I think the problem is a simple one," said Music Librarian Ned Quist. "The only folks still buying CDs are the older generation."
