(PRESS RELEASE) OMAHA, NE — The Edge Retail Academy, a retail jewelry business advising company, announced the release of its “Retirement Readiness” program. ERA has developed this program to fast track a jeweler’s business to be retirement ready – whenever that may be.
“The jewelry industry has been going through a choppy period since the 2008 recession,” said David Brown, president of ERA. “8,000 stores have closed since 2007 according to US Census & JBT. Yet 37 percent of jewelry business owners have no retirement plan at all. Our program helps retailers create a plan – regardless if they plan to exit the business in two years or 10.”
The ERA “Retirement Playbook” addresses key retirement strategies such as:
Improving existing net profit and cash flow by introducing other profit centers to maximize the capital and/or income available for retirement.
Identifying savings, improvements and opportunities as well as reducing any risks and threats to the plans.
Achieving and maintaining an optimum inventory level so the released funds can be used to eliminate debt or build wealth for retirement.
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Implementing the “5 Stages of Profitable Inventory Management.”
Brown adds, “Getting your business into the best possible shape before you decide what to do with it … is what we call Retirement Readiness.”
And he points out, “You don’t have to be ready to retire in order for your business to be Retirement Ready. We expect to have many participating jewelers who are years away from exiting their businesses.”
More information about the Retirement Readiness program can be found at https://www.edgeretailacademy.com/retirement-readiness.
Four Decades of Excellence: How Wilkerson Transformed a Jeweler's Retirement into Celebration
After 45 years serving the Milwaukee community, Treiber & Straub Jewelers owner Michael Straub faced a significant life transition. At 75, the veteran jeweler made a personal decision many business owners understand: "I think it's time. I want to enjoy my wife with my grandchildren for the next 10, 15 years."
Wilkerson's expertise transformed this major business transition into an extraordinary success. Their comprehensive approach to managing the going-out-of-business sale created unprecedented customer response—with lines forming outside the store and limits on how many shoppers could enter at once due to fire safety regulations.
The results exceeded all expectations. "Wilkerson did a phenomenal job," Straub enthuses. "They were there for you through the whole thing, helped you with promoting it, helping you on day-to-day business. I can't speak enough for how well they did." The partnership didn't just facilitate a business closing; it created a celebratory finale to decades of service while allowing Straub to confidently step into his well-earned retirement.
