Jewelry Repair – Here are Five Ways to Maximize Revenue

Jewelry Repair – Few can say that jewelry repair is a basic source of income that pays bills when the situation slows down. In fact, the average monthly bill for repairs varies between 10 and 15%, with a peak in January. That’s right, you know very well the size, modification, prints and repairs after Christmas that walk with you after the exchange of big prizes. But in the end, jewelry repair is a whole year of business. What you don’t know, however, is that research shows that the main difference between a million-dollar store and a $ 2 million store is not the amount of jewelry repair done, but the price of the repair. You may leave too much money on the table for excessive billing or ignore big sales opportunities.

Jewelry Repair

 

Here are five ways to maximize revenue by improving jewelry

1. You get a wide promotion
As a jewelry specialist and trusted member of your community, take every opportunity to promote your business. Television, radio and print ads are a great opportunity to display your repair services. But you don’t have to limit yourself to traditional media now. In fact, you shouldn’t! Join Facebook, Instagram and Twitter to spread the word. You will reach these young customers who spend a lot of time on social media and want to buy locally. This social platform is growing and, above all, they are free! Then enter and spread the news about your jewelry repair service. Look at our top social media tips here. Read also: Gold Bracelets for Women Gift in Special Occasions

2. Offer limited time promotions
Your promotion must be something you can do quickly and cheaply – for example a free battery exchange. Offer to replace your watch battery only for battery charges. Or offer half the price on a chain solder. The idea is to reward your loyal customers while attracting new customers to your store without wasting a lot of time or money. And of course, fifteen minutes response time gives your customers fifteen minutes of navigation in the meantime!

3. But don’t ignore everything!
If you like lots of jewelry – maybe even most – you don’t charge anything for repairs. How do you know what to charge? The industry standard, of course, is the Blue Geller Book, which provides strong guidance. Do a search to see how the recommended prices on the Blue Geller Book are compared to your current rates. Then adjust your price. Don’t be afraid to increase the level of repair of your jewelry. After all, your time and work are very valuable. Need more information about pricing or other business issues?

4. Build self-confidence
You have seen customers reluctantly share your engagement ring for new appointments. When you tell him that it will take about 30 minutes, he offers to keep working. And who can blame him for being so nervous? This tells you what can be your most valuable possession. Create confidence using a strict standard entry process using this 3 part jewelry repair form. You can never be too careful: measuring stones, describing their colors in detail, paying attention to damage to the room and rock conditions, weighing articles and taking pictures from all angles. Taking a photo of his ring and pinning it into a repair envelope, he will feel safe to find what he left behind. Also, if the details aren’t documented at the front desk, any anomalies in jewelry repair can haunt you.

5. Upsell, Upsell, Upsell
Use the registration process to notify your customers about all the other services you offer. Tell him that you can return to the ring he inherited or carve out the medal he received on his birthday. You can also charge more for premium services such as urgent work. Customers who need their jewelry quickly are usually willing to pay a higher price. Tell him that you can judge this engagement ring for him to get. And don’t forget to use your counting room near the table for cool items and affordable prices to make impulse shopping more likely.

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