Life After a Retail Jewelry Store

You have been in the jewelry business all your life.  It’s what you know and what you love, but suddenly you find yourself thinking about closing down or retiring.  In some instances the denouement is of your own choosing; in others, external factors leave you no choice– losing your lease, competition, difficulty finding employees or expenses that seem to increase more than sales.

Some jewelers find that closing down or selling their jewelry store is the end of their career in jewelry; others find that leaving a retail store environment is a new beginning.

A number of former retailers are finding a new way to stay in the business and flourish by becoming a personal or private jeweler. No retail store, no employees, and very little overhead. If you are a jeweler who is selling your store you may have a non-compete clause, so it is important to understand if this choice is available to you.

For some jewelers, opening a small office adds to their credibility and provides a place to show merchandise and meet with customers and prospects. Others discover that a home-based operation is better suited to their needs.

Jewelers that have always networked themselves in their community and jewelers that have cultivated good customer lists find that the transition from retail store owner to private or personal jeweler is a dream come true.

They have always understood that a customer list is a far greater asset than an inventory. The private jeweler’s knowledge of what the customer owns, what they want, their birthday and anniversary information, even the work number of their spouse, all makes jewelry buying more convenient and practical.

Nancy Apriceno, a graduate gemologist, made the transition from store owner to private jeweler in the last few years. Her days are now filled with calling customers, asking for referrals, networking and speaking at luncheons about jewelry. She also spends time meeting customers in their office or business. “I find I can spend more time with customers and prospects than I ever could when I owned a store, and this time enables me to be a better and more informed sales consultant. The more I know about the customer the better I am able to service them,” says Apriceno.

“I love being a personal jeweler,” she says. “I treat this as a business. I plan my schedule and make my calls. Nothing happens unless I make it happen. My follow-up with customers and prospects is consistent and repetitive. My marketing materials are first class and enable me to stay in front of my customers and prospects all the time on a one-on-one basis.”

Although the road to being a personal or private jeweler is not for everyone, it certainly provides a way to continue your career in the industry you love.  Instead of managing other people, you will need to manage yourself. The development and understanding of building personal relationships with your customers and prospects separate successful private jewelers from unsuccessful ones.

Porte  Marketing  Group  is  a  leader  in providing  turnkey  marketing  solutions for  jewelry  retailers  and manufacturers. Founded by James S.  Porte  in  1989,  the company  provides  research,  consulting, seminars, printing, photography and graphic design services  for  the  jewelry  industry.