Trade Resources
Who should be on YOUR bus?
Jewelers are like the Wild West. Free thinkers, creative with a devil may care attitude at times. We love the independence of calling our own shots, good or bad Some will become large enterprises, like taking a 10 room hotel and turning it into a chain with exquisite rooms, a bar and restaurant while others are just as happy to have their corner cafe.
How are you going to make money in your store? When everyone has finally sold all of their scrap gold!
I don't think the gold selling bug is over yet but I'm writing this at the end of April and many jewelers across the country have reported people selling their jewels have dropped off as much as 30%. Many have said the quality of items is also lower and lower price points. There is a gleam of happiness with some jewelers as a few have said people selling their 2 ct and above diamonds have increased.
Just MAYBE its time for some good old fashion bribery.
There's many ways to sell jewelry and I think you'll agree that life would be great if you could just sell more stuff from the case.
How would you "woo" your girlfriend or your customer?
Consumers have two places to purchase jewelry.
It was new when you bought it, then when you sold the item it was "sort of new". Or was it from 1964?
How long until inventory becomes REALLY old? Do you think you could sell something that you've had in stock since 1964?
Wouldn't it be nice if getting all of the money from jewelry repairs prices was as wonderfully guaranteed as the perfume & cologne ads show for getting the person of your dreams?
We see the ads for men and women's cologne all the time. You sit in your chair; watch the commercials and dream of your secret lover. Someone, who will "take you away from all of this.
As Forrest Gump used to say: "Repairs are like a box of chocolates, you never know what's going to come in the door."
Yep! Forrest was right; you never know what's going to come in the door. But if you price it right you'll always make money. Whether it`s a simple ring sizing, half shank or rebuilding 7 channel set stones in a wedding band, you should always feel like: "it'll be a profitable sale". Why not? 90% of people say: "Ok, go ahead and fix it!"
Now's the time to plan on getting rid of those dogs in the case without "discounting".
You've heard "shoot while the ducks are flying". The month with the most traffic for your store is of course Christmas/December. This is the time to get rid of the dogs in the case. I've written a lot about old inventory in our business and "old" is anything over a year but a "dog" is easily anything over 18 months. So let's get rid of 18 month old dogs this holiday.
What to do with an old computer, no matter how old? How about telling the computer to increase shop profits!
Many stores try to conserve money by delaying upgrading their old computers and when they do upgrade to a newer Windows version (or even Mac) they wish they had done it sooner. I have bought newer computers for several reasons:
