Alan Perry Works on Letting Go — Gradually

Published

6 years ago

February 1, 2019

Eileen McClelland Instore February 2019 Issue

Alan Perry Works on Letting Go — Gradually

Alan Perry, who recently turned 60, is trying to slowly let go of his “baby,” Perry’s Emporium in Wilmington, NC, and let his sons take over. His strategy is to scale back to a four-day week, then three days, and by the time he’s 70, two. While it’s not easy to let go of the reins, he is ready to loosen them. “I started this with nothing and have grown it to over $6 million, so it’s my pride and joy. But I am tired of all the stress, so it feels good to let loose a lot of the staff issues. I’m damn sure going to slow down to three days a week when I’m 65.”

His oldest son, Joshua, is the floor and store manager, supported by a chief financial officer, while his youngest, Jordan, is on the bench but will be moving into sales.

“I have pretty much turned over hiring and firing to Joshua, as well as training.”

As for advertising, “I’ve been on TV and radio for 26 years, but we’re putting them on TV more and using Jordan on the radio. I’m still working on marketing and inventory, merchandise planning, the ad budget. That’s what I enjoy. I also go out on the floor for about two hours a day, to greet customers and close the sale when need be. I enjoy the heck out of that.”

Perry is a member of a Plexus group. The consensus in that group is that when you can walk away for a year and no one has to call you, that’s when you know you can retire. “I”m not quite ready for that. They need another five years of me in the trenches working.”

It’s all moving in the right direction, though. Business is up about 15 percent this year, even after the area was slammed by a hurricane.

You Wouldn’t Cut Your Own Hair. Why Run Your Own Retirement Sale?

After being in business for over a quarter of a century, Wayne Reid, owner of Wayne Jewelers in Wayne, Pennsylvania, decided it was time for a little “me time.” He says, “I’ve reached a point in my life where it’s time to slow down, enjoy a lot of things outside of the jewelry industry. It just seemed to be the right time.” He chose Wilkerson to handle his retirement sale because of their reputation and results. With financial goals exceeded, Reid says he made the right choice selecting Wilkerson to handle the sale. “They made every effort to push our jewelry to the forefront of the showcases,” he says, lauding Wilkerson for their finesse and expertise. Would he recommend them to other jewelers who want to make room for new merchandise, expand their business or like him, decide to call it a day? Absolutely he says, equating trying to do this kind of sale with cutting your own hair. “The results are going to happen but not as well as if you have a professional like Wilkerson do the job for you.”