Gene the Jeweler

Your Jewelry Store Doesn’t Need a ‘Profit Center’ Like This

Gene explains the ‘circle of jewelry life.’

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Published

7 years ago

September 1, 2017

Jimmy DeGroot

IN A SENSE, watch-battery replacement is a thriving business for Gene the Jeweler’s store. He has an employee dedicated to the task, and she does about 50 jobs a day.

But he only charges $5 per replacement, and he pays the employee $12 an hour. He has to factor in the cost of the batteries, and the fact that occasionally, the employee breaks a watch and it has to be replaced.

All things considered, he couldn’t be making much profit on the operation.

So why bother?

Once again, the problems in Gene’s fictional jewelry store reflect poorly on his management practices. He says the watch-battery situation is all part of the “circle of jewelry life.”

But should it be?

Watch the video:

Your Jewelry Store Doesn’t Need a ‘Profit Center’ Like This

Jimmy DeGroot

Jimmy DeGroot is a jewelry store manager who has been in the business for over 20 years. Now he spends his time training teams around the world at jewelrystoretraining.com and sharing marketing advice through his blog site at jewelrymarketingguy.com. Sign up for training videos here.

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