[dropcap cap=W]elcome to instore’s “Big Survey,” year four. It’s one of our annual projects that I’m most proud of. And one we couldn’t do without tons of support from those who read and support our mag.[/dropcap]
As usual, there’s a truckload of useful information here. But I want to make clear that, if you’re an established jeweler with a mature business, you should be careful how you use it. For some questions, being in the middle of the pack is a reassuring result. But in many others, you should ask yourself, “Is average really where I want to be?” Because average is the opposite of extraordinary. And customers don’t remember average.
Inside you’ll learn many interesting things about the finances, expenses, inventory and policies of American jewelers. But my personal favorite stuff is when we ask you about your life. A few lifestyle nuggests:
[li] You guys are definitely not fresh-faced babes. In fact, 60 percent of you are 50 or older. Which means that while you may not feel old, you are at least eligible to receive AARP magazine.[/li]
[li] 74 percent of you are at least pretty happy with your professional life (rating it 7 or higher on a 1-10 scale). And 82 percent of you are happy with your life as a whole.[/li]
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[li] Almost half of you (47 percent) see yourself as lovers of jewelry who run stores, while the other half see yourself as businesspeople who sell jewelry. Hmmm …
Lots more inside. Enjoy the issue![/li]
Wishing you the very best in business!
dsquires@instoremag.com
[span class=note]This story is from the October 2010 edition of INSTORE[/span]
Family Legacy, New Chapter: How Wilkerson Turns 89 Years of History Into Future Success
After 89 years of serving the Albany community, Harold Finkle Your Jeweler faced a pivotal decision. For third-generation owner Justin Finkle, the demanding hours of running a small business were taking precious time away from his young family. "After 23 years, I decided this was the time for me," Finkle explains. But closing a business with nearly nine decades of inventory and customer relationships isn't something easily managed alone.
Wilkerson's comprehensive approach transformed this challenging transition into a remarkable success story. Their strategic planning handled everything from advertising and social media to inventory management and staffing — elements that would overwhelm most jewelers attempting to navigate a closing sale independently.
The results speak volumes. "Wilkerson gave us three different tiers of potential goals," Finkle notes. "We've reached that third tier, that highest goal already, and we still have two weeks left of the sale." The partnership didn't just meet financial objectives—it exceeded them ahead of schedule.
