Zen Jeweler: Quantity Ain’t All It’s Cracked Up To Be

Published

16 years ago

July 26, 2008

INSTORE Staff

Zen Jeweler

Fine jewelry requires a long-term attitude from its purchasers and wearers. This is bad news, and here’s why. Much of what we do today is for the short-term, the quick fix, the disposable society we’ve inherited from watching too many commercials. We’ve developed an addiction for the new, without an appreciation for the exceptional. We’ve begun to buy quantity. And we’ve begun to think of what we do in terms of that quantity. Quantity, frankly, ain’t all it’s cracked up to be. For instance, I once noted that in a store I was working in, 88 percent of the gross profit was coming from 15 percent of the store’s units. That meant that it took the other 85 percent of the stores sales to make up the last 12 percent of the gross profit. Quantity was defeating profitability. The 15 percent of units making up the vast majority of the store’s gross was, in fact, 135 units. Less than one sale a day. Imagine what just two sales a day like that would have done. Instead of one sale of $6,000, imagine two. Let’s continue to work harder, not smarter.

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.”