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Big Survey

$50,000 Is a Critically Important Number for Many Jewelers

Bad things happen beyond that amount.

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WE RECENTLY TOLD YOU about the unexpected expenses that really hurt jewelers.

Building and equipment maintenance turned out to be the most common source of unanticipated financial pain. Still, many other events also put a surprise dent in jewelers’ pocketbooks, from robberies to diamond breakage. 

But did you ever wonder how much financial damage your peers in the business are prepared to withstand?

For Big Survey 2016, we asked, “How large in dollar terms would an unexpected expense have to be to put a serious strain on your business?”

The most common answer was $50,000, and there were also clusters at $10,000 and $100,000.

A few jewelers said they wouldn’t be able to sustain any amount. As one told us: “We have only been open 2.5 years. Every penny is a serious strain on our business.”

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$50,000 Is a Critically Important Number for Many Jewelers

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Wilkerson Testimonials | MSG Jewelers

Wilkerson Takes the Worry Out of Closing

MSG Jewelers has always treated its customers like family. When owner Mike George decided to retire and close the doors of his St. Louis, Missouri jewelry store, he selected a company to manage his going-out-of-business sale that treats its customers like family, too. That’s why he chose Wilkerson. “Wilkerson was able to do all the things that we needed,” says George. In the end, the bittersweet store closing was so much easier with Wilkerson at the helm. From marketing to pricing to inventory, Wilkerson does it all. “It’s a package deal,” says George.

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