Trade Resources
Do you warranty your work?
Warranty is a cost of business and customers expect you to stand behind your work. A jeweler will go out and buy a cell phone or other electronics and expect it to work flawlessly for 1 full year. If it has ANY problem and you take it back to the retailer and let them know
The Tax Man Cometh... And it's Not Who You Think!
In January you think about Uncle Sam and filling out your tax return. That’s once a year and this is not about your favorite Uncle. It’s about your favorite Governor. You know, the guy who collects the sales tax each month.
Ron Samuelson of Facebook's comments on Margins and my response Jan 2012
Ron Samuelson of "Jewelers Facebook Network" puts out good emails about the jewelry industry. He also owns his own store "Samuelson's Diamonds" in Baltimore.
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!"
