Always Be Changing

McCoy Goldsmith & Jeweler, Dubuque, IA

OWNERS: : Jonathan and Jennifer McCoy; URL: mccoyjeweler.com; FOUNDED: 1973; Opened featured location: 1976; RENOVATED: 2023; INTERIOR DESIGN: McCoy Jewelers (light construction help from local tradesmen); TOP BRANDS: : McCoy custom, Noam Carver, Classic Grown, Naledi, Facet Barcelona, Artistry, Ltd.; AREA: 1,500 square feet; ONLINE PRESENCE: 6,800 Facebook followers; 5.0 Stars on Google Reviews; 963 followers on Instagram; EMPLOYEES: 5

Jonathan and Jennifer McCoy

MCCOY GOLDSMITH & JEWELER is no stranger to change, or recognition; the 51-year-old operation on historic Main Street in Dubuque, IA, has twice earned an America’s Coolest Stores title — in 2018 and now again in 2024. Its success can be chalked up to a progressive policy of ‘Always Be Changing.’ This means implementing fresh ideas, welcoming young talent to the staff, and empowering them to make good decisions and feel invested in the success of the store. The mantra “is a testament to the power of legacy, perseverance and embracing change,” says owner Jonathan McCoy, who bought the store with his wife, Jennifer, from his father, Robert, in 2013.

For the past 16 years, McCoy’s niche has been bridal. Lab-grown diamonds joined inventory in 2017 and now account for a whopping 90% of center stone sales.

“It was apparent to us that this was not just an industry disruptor but a literal rewrite of what bridal design, margins, and opportunities that laboratory-grown diamonds would allow,” says Jonathan.

And while McCoy made some minor cosmetic updates in 2018, they rolled forward in 2023 with more edits and an expansion. In this round of changes, they even planted some proverbial moss as a focal point wall while expanding their retail footprint.

The front of the store didn’t change. When you walk in, to the right you see the jeweler’s room with a window for clients to watch bench work in progress (this setup is also visible from the street). Original tin tiles line the ceiling, and a modest linear showroom is flanked by cases of fine fashion jewelry. Then a long hallway acts as a transition to the new bridal salon. It’s a corridor with exposed brick and a sprawling moss wall display.

Opposite the moss, photos are hung that feature McCoy couples who participate in the “I Promise Campaign,” an effort created by Samantha Swift, store manager. Engaged couples make written ‘promises’ to each other that are captured on paper along with their photos, which are displayed in this space “where love grows,” says Jonathan. When clients walk from the busy front of the store to the back salon, they walk through this “peaceful hallway of greenery and ‘promises’ into the bridal salon,” he says.

The McCoys purchased adjacent first-floor retail space to make the new salon. However, no major construction was needed; a back room in the acquisition already had an entry to the McCoys’ store that they simply modified. With the help of local tradesmen, they expanded that entry and removed walls and a bathroom to make the new bridal salon.

With this reno, the store increased its total square footage from 1,204 to 1,500, adding more sales space (previously the entire sales floor was just 203 square feet). The new bridal salon has seven cases of jewelry, including store-made and designer lines, more exposed brick and deep emerald-green walls. Accents include white marble and gold and black cases, tables, chairs, and more.

“We are continually looking for new ways to enhance the building and our space while respecting the integrity of the 132-year-old building,” explains Jonathan.

There’s also a spectacular textured plaster wall created by a local painter. It’s stunning but was not easy to make. “Our painter said it took him so long that he’ll never do it again!” says Samantha.

A repair and digital manufacturing equipment space is near the salon but out of view of clients. That area contains the store’s four-axis carving mill, two 3D resin printers for casting models, and a newly acquired fiber laser for crafting personalized jewelry and other unique offerings ‘carved’ into the metal. These provide “design options and accuracy never before achievable,” observes Jonathan.

The interior design ideas are courtesy of the hardworking staffers of McCoy.

“This redesign is 100% home-brewed!” exclaims Jonathan. “We have been attending educational and design seminars, reading INSTORE Magazine advice columns, and attending all possible trade show store round tables, Cool Store discussions, and design, marketing and retailing events.”

McCoy’s distinctive emerald-green color, meanwhile, is evident beyond the walls in the form of packaging, bags, and marketing campaigns.
This deep green is to McCoy what robin’s egg blue is to Tiffany & Co.; legacy brands — and those in the making — know that color becomes “synonymous with the store’s brand identity,” says Jonathan.

A moss-covered wall stands opposite a brick wall featuring photos of McCoy customers.

Other marketing efforts include more great ideas from Samantha. She makes mood boards for events and promotions, designed and manages a user-friendly e-commerce site, and conducts Facebook Live events to educate, showcase products, and discuss upcoming events.

“This interactive approach not only creates a positive online experience but also builds trust and excitement for in-store visits,” says Jonathan.

Additionally, Samantha creates a year-long marketing plan reinforced by quarterly meetings to discuss events, promotions, and initiatives. After each, the effectiveness of the plan is reviewed, and appropriate modifications are made based on the results.

Samantha has been with the McCoy team for seven years, but her connection to the business goes back to 1975, when her aunt worked in the store as an apprentice jeweler. A generation later, in May 2018, Samantha graduated with a bachelor’s degree in marketing and public relations, and the McCoys hired her full-time.

“We hired her for her marketing abilities, but she has grown into a diverse, competent manager now handling any and all issues that arise in the business,” says Jonathan.

Other employees include an assistant store manager and a bench jeweler. The entire McCoy staff is highly valued, and Jonathan and Jennifer encourage them to “take the reins” every day and not just when the owners are absent.

“Our mission is to be the director, not the lead actors in this play, and encourage dedication,” says Jonathan. “We make heirlooms. We restore the broken. We celebrate life’s milestones. We are jewelers.”

While bench work is visible to McCoy clients, a new repair and digital manufacturing equipment space is hidden.

Five Cool Things About McCoy Goldsmith & Jeweler

1. MORGAN THE POODLE. Jonathan and Jennifer adopted Morgan, a grayish-black poodle, in March 2018. The 45-pound pooch has become something of an emotional support animal in the bridal salon (for anyone getting cold feet!) but also roams the store freely. “He is everyone’s best friend whenever needed,” says Jonathan. “We believe that Morgan is what truly holds the place together, bringing joy and a sense of community to our workspace.”

2. A CONSULTATIVE APPROACH. The McCoy approach to leadership is coaching, not control. “Our job as owners should be educating staff through teaching moments, mentorship, apprenticeships and internships,” says Jonathan. “Our store plan is to make the owners wanted, but not needed.” Through daily interactions, weekly meetings and quarterly reviews, the McCoys emphasize values and mission. “They recognize the value of fresh ideas and young minds in evolving and growing the business,” adds Samantha.

3. NEW, NEW & MORE NEW IDEAS. “It is essential to introduce fresh, young ideas into your store,” says Jonathan. “Young, hungry-to-learn-and-grow employees have given us the ideal conditions to build a strong foundation and not invest countless hours breaking bad habits.” Samantha notes that this willingness to embrace change “allows us to stay relevant and continually explore new product lines, procedures, marketing trends and sales techniques.”

4. COMMISSION-FREE SALES. There are no sales commissions at McCoy, which the owners believe fosters a mindset of teamwork during client consultations. Any team member can bring in another colleague who may have better insight or be a better fit for a particular client.

5. ALWAYS BE CULTIVATING. “Our store manager Samantha has advanced her career not just by embracing change herself but leading our staff through the highs and lows and quiet and busy moments of our shop,” says Jonathan. “We strive to guide staff not just through their professional development but their personal growth as well. Samantha expressed interest from day one in some day owning the store and we are here to do anything possible for her to achieve that goal.”

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