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By the Numbers: Peer Review

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Independent jewelers enjoyed a solid start to 2015 with average monthly sales climbing to $87,767, up $10,453, or 13 percent, from the same month last year. On a 12-month rolling basis, that represents growth of 0.69 percent and suggests the jewelers in our survey group — who come from across the country — are on track to enjoy 8.3 percent sales growth this year.

By the Numbers: Peer Review

If your sales growth has been more modest, you may want to look at joining a peer group. Working together with like-minded store owners, meeting regularly and comparing results can provide you with terrific benchmarking figures to grow your business. It also opens the way for the 80/20 rule to come into play. Twenty percent of the areas of your business that need attention can provide 80 percent of the results you desire. It’s hard to lift sales volume, average sale and margin all at once. Choose the one that will have the greatest impact and work on this. Ask fellow jewelers how they perform in this area. When you find someone who is doing well, ask them what they do that’s different. Above all, be open-minded. If your instant reaction is, “that can’t be achieved here,” then sure enough it won’t be.

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This Third-Generation Jeweler Was Ready for Retirement. He Called Wilkerson

Retirement is never easy, especially when it means the end to a business that was founded in 1884. But for Laura and Sam Sipe, it was time to put their own needs first. They decided to close J.C. Sipe Jewelers, one of Indianapolis’ most trusted names in fine jewelry, and call Wilkerson. “Laura and I decided the conditions were right,” says Sam. Wilkerson handled every detail in their going-out-of-business sale, from marketing to manning the sales floor. “The main goal was to sell our existing inventory that’s all paid for and turn that into cash for our retirement,” says Sam. “It’s been very, very productive.” Would they recommend Wilkerson to other jewelers who want to enjoy their golden years? Absolutely! “Call Wilkerson,” says Laura. “They can help you achieve your goals so you’ll be able to move into retirement comfortably.”

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David Brown

By the Numbers: Peer Review

mm

Published

on

Independent jewelers enjoyed a solid start to 2015 with average monthly sales climbing to $87,767, up $10,453, or 13 percent, from the same month last year. On a 12-month rolling basis, that represents growth of 0.69 percent and suggests the jewelers in our survey group — who come from across the country — are on track to enjoy 8.3 percent sales growth this year.

By the Numbers: Peer Review

If your sales growth has been more modest, you may want to look at joining a peer group. Working together with like-minded store owners, meeting regularly and comparing results can provide you with terrific benchmarking figures to grow your business. It also opens the way for the 80/20 rule to come into play. Twenty percent of the areas of your business that need attention can provide 80 percent of the results you desire. It’s hard to lift sales volume, average sale and margin all at once. Choose the one that will have the greatest impact and work on this. Ask fellow jewelers how they perform in this area. When you find someone who is doing well, ask them what they do that’s different. Above all, be open-minded. If your instant reaction is, “that can’t be achieved here,” then sure enough it won’t be.

Advertisement

SPONSORED VIDEO

This Third-Generation Jeweler Was Ready for Retirement. He Called Wilkerson

Retirement is never easy, especially when it means the end to a business that was founded in 1884. But for Laura and Sam Sipe, it was time to put their own needs first. They decided to close J.C. Sipe Jewelers, one of Indianapolis’ most trusted names in fine jewelry, and call Wilkerson. “Laura and I decided the conditions were right,” says Sam. Wilkerson handled every detail in their going-out-of-business sale, from marketing to manning the sales floor. “The main goal was to sell our existing inventory that’s all paid for and turn that into cash for our retirement,” says Sam. “It’s been very, very productive.” Would they recommend Wilkerson to other jewelers who want to enjoy their golden years? Absolutely! “Call Wilkerson,” says Laura. “They can help you achieve your goals so you’ll be able to move into retirement comfortably.”

Promoted Headlines

Most Popular