TO ENSURE YOU’RE getting the most out of every sale — and the customer the best service — be sure to cover all these points when the next repair customer comes in the door.
1. Suggest having all prongs tipped when only one is bad as the others are probably thin as well.
2. Ring sizings with a shank less than a millimeter thick probably should have a new thicker shank installed.
3. Show every sizing customer a sample of an arthritic shank (FingerMate, SuperFit, etc). You might sell one to every 10-20 customers.
4. When replacing a soldered pin in a tennis bracelet or other type of bracelet with pins, know that the first three rivets on either side of the clasp (six in total) usually wear and get thin long before the pins in the center do. Suggest replacing all the pins even if you have to give a 20 percent discount on the total of six. The customer will have a better job and you’ll make more money. Be sure and lay the bracelet on a photocopying machine (unless you have a camera) and keep a copy of a picture of the broken bracelet in the job envelope. This will prevent the customer later saying it’s the same pin you repaired.
5. Tell customers there is an extra charge of $20 to check and tighten stones in their jewelry above five (first four stones are checked free). For this fee, “we will check and tighten every stone, and make sure they are tight for one year. If they get loose, we’ll tighten them at no charge and if they fall out we will replace them at no charge.” Yes, you can limit size and such, but the customer should know this up front. Do the math. A typical store will sell 70 percent of its customers who are presented with this option. If you take in 5,000 jobs a year and 60 percent of the jobs coming in have five or more stones and 70 percent of those folks say yes, you’ll take in $45,000 a year in lost stones. This money goes right to the bottom line.
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This story is from the May 2009 edition of INSTORE.
Closing With Confidence: How Bailey's Fine Jewelry Achieved Outstanding Results With Wilkerson
When Trey Bailey, President and CEO of Bailey's Fine Jewelry, decided to close the Crabtree location in Raleigh, North Carolina after 15 years, he knew the decision needed to be handled with intention and professionalism. The goal was clear: exit the location while maintaining financial strength and honoring the store's legacy.
Having worked with Wilkerson successfully in the past, Bailey understood the value of their comprehensive approach. "They understood both the emotional and financial sides of the store closing sale," Trey explains. "Their reputation for professionalism, results and care made it a very easy decision."
The results exceeded expectations. Wilkerson helped Bailey's sell through significant inventory while maintaining the dignity of the closing process. "They don't just run a sale, they help close a chapter in the best way possible," Bailey says, strongly recommending Wilkerson to any jeweler facing a similar transition.
