Jewelry Business Tips – With the current economic climate it is clear that money is always on everyone’s mind. Whether you’re just trying to keep your business afloat or trying to reach the goals you set at the beginning of the year, here are some money-saving tips and hacks to help you lower your capital business expenses.
Due to social travel, it is better to have less staff in the office and on the shop floor for health reasons. This means you don’t have to pay them for the time they don’t work, which helps keep costs down.
Jewelry Business Tips
Now that people spend more time on social media and on their phones than usual, there are more opportunities for (free) email marketing and social media marketing- (free- if you want to invest). Take the time to get to know your digital customers and how you can get the most out of this free marketing opportunity. For example, Instagram is known for beautiful photos, so good photos of the jewelry you sell will increase
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Outsourcing means the only cost is labor, not additional bills that come from insurance, materials and fees. There are many reliable jewellers, ready to work, just waiting for you to check their quality.
When you need to buy supplies for business purposes, go to wholesalers and buy in bulk. You can get better value deals or let your existing customers know you’re looking for a discount so they can offer you more.
Analyze your insurance policy and financial statements to see how you can save money. Look for other competitive prices, then go back to your current provider and see if they match. Combine your bank accounts or insurance policies where possible.
“It’s time to waste dollars.” Incentivize employees to be productive while working from home. Try engaging employees with a time management app like Time Lapsing.
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This means that the first 10% cut is the unexpected things you know you can do without, the rest is saved from consolidation and making business decisions about what is enough to stay in business. It’s a strange, unprecedented time so let’s all spend that money. You can do it!
This period can be avoided by making the right decisions, reducing capital business costs and keeping you and your employees engaged regardless of the situation.
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5 Reasons Why Your Jeweler Shouldn’t Plate Gold When it comes to metal, … Read more Personal safety is an important issue in our field. Unfortunately, when a member of our community is the victim of theft or vandalism, little attention is paid until it ends in a tragedy. This article will explore basic prevention strategies to protect you and your inventory.
The danger to our business is not new. At Halstead, we did the same at trade shows in the 1980s. We drove around in a van, sometimes with paid security guards, and posted tickets when we stopped for a ride. Not kidding. My father used to guard our showroom at night. That can be paranoid; But, the thing is, things happen in the beauty industry, sometimes people get hurt, so you shouldn’t neglect your personal safety.
At the time, street assaults and batteries in the jewelry business were a common occurrence. Criminals target trade shows and fashion events and then leave the venue, which has a security checkpoint. They wait for rich people to stand in their way and then commit armed robberies. Some of the attacks took place when the trucks were moving to remote areas. Terrible thing.
My parents moved out of the Phoenix metro area in the same decade because they were one of the few jewelry businesses in the Valley that had never experienced an armed robbery while in business. With two young daughters, they decided to move to a quieter place. Our house in Prescott is now built like a castle (thanks, Dad). We take safety and security very seriously even though we do not deal in high end items.
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Anyone with a history of the capitalist world can tell you about pirates that examples were found earlier in capitalist regions. Our friends were sent to the hospital by their kidnappers to get them to safety. Some to break the car windows and steal the contents. I am aware of several incidents that have occurred in recent years.
Yes, these things happen. I don’t mean to scare you though, it’s just to get your attention. Keeping your business safe and secure takes a lot of thought. There are precautions you can take to limit your risk.
Personal security measures start in your studio space and at home. Today, video surveillance is a cost-effective and effective means of crime prevention. Burglars are more likely to overrun targets with visible video cameras. It’s easier to buy the right software from stores like Costco and security specialist firms You can often install the browser and connect it to your cell phone or computer for backup recording
Also, consider alarms and security for precious stones and items. Anything that slows thieves down makes them think twice about choosing your business as a target instead of an easy target down the road.
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Think beyond the safety equipment you can buy or rent and think about your habits. Certain behaviors at home and on the road can get you into trouble. Consider the following tips for personal safety in the jewelry business.
1. If you have a brick and mortar retail location or a studio with expensive furniture, talk to security experts.
It is difficult to protect a body part. This means a new level of personal safety measures including maneuvering to and from work each day. If you decide to open a store, meet with insurance adjusters and security experts before you sign a lease. There are important tips and parameters to consider depending on your book value and the size of your business. They can also advise you on choosing a safe place.
Talk to insurance industry professionals. Many companies do not insure jewelry companies. We recommend contacting the market leader in jewelery business insurance, Jewelers Mutual. If you get a policy, make sure you know what it covers and what activities will void your coverage
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Know when to network and when to sleep less. Including talking generally about how well your business is doing financially this year or talking a lot about your assets. Even in our house where Halstead is, I tell strangers I work in the art business. I’m careful to avoid the word “joy” unless I’m around people I know and trust.
Be aware that jewelry thieves come in all varieties. Some crimes in our business are the result of desperate and dumb people looking for easy targets. Other crimes are committed by international thieves. There is a large spectrum of these. Don’t hesitate to reduce the threat to your business.
Some thieves hear the word “jewelry” and automatically think you’re talking about a piece of jewelry. Some of the worst accidents I know are against jewelers who don’t have a lot of work. Don’t think you’re not a target because you’re silver or have a lower cost line. Criminals don’t know what’s on your case, but they may think it’s a big bill.
But don’t underestimate them all. On the other hand, some robberies are very planned and executed. Your jewelry doesn’t just sit on the show floor. The most sophisticated criminals know when something is unexpected and easy to catch. Don’t fall into those situations.
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Beauticians are sometimes very dangerous on business trips. Trade shows and conventions are considered rich environments by criminals because there are many beauticians in one place who can be in vulnerable situations. Use common sense and basic techniques to protect yourself.
If you travel with a luggage tag, try to use one that covers your tag and can be opened if needed. Get your mobile phone right! A portable dish is a worthwhile investment here. you can ask
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