What Should Shop Numbers Be?
Many jewelers get confused on Making money and having money.
It’s easy to make money selling jewelry-charge way more than it cost you. Jewelers then cry “I’m not making any money, I can’t pay my bills.”
That's not a profit problem it’s a “too much inventory problem.”
The shop on the other hand is the exact opposite of the showroom. IT’s ALL ABOUT PROFIT AND NOTHING TO DO WITH INVENTORY.
With selling from the showcase life is a bit easier-you know your cost, just double it (or some similar equation). But when it comes to shop pricing for most jewelers how much to charge is a guess and they have little clues about the shops profitability.
So I’m...Read More