Why is your jewelry store’s stock turn so important? The answer is clear. In many jewelry stores, their inventory is the single largest asset on the P&L. Unfortunately though with all the advancements in inventory technology, it still remains the least productive asset on their books. In far too many jewelry stores their inventory has […]
Creating A Jewelry Store Budget
Creating a budget for your jewelry store is the most critical step you will take to ensuring survivability and hopefully, the profitability of your store this year. The Jewelers Board of Trade for 2011 listed 28,706 jewelry-related companies in the U.S. That number represents a drop of 1.3% from last year. One of the primary […]
Business Formulas For Your Jewelry Store
There are some basic business formulas that you need to be comfortable with to maximize the profit potential of your jewelry store. It seems as though every independent jewelry store manager/owner can rattle off their gross margin percentage but beyond that, it gets a little murky. To fully understand your business you have to possess a solid […]