This week we are featuring tips culled from the expert presenters at the upcoming JA New York Show. If you are attending the show, don't miss the Jewelers of America-sponsored education seminars held Sunday, July 27-Tuesday, July 29.
Rising precious metals costs and growing pressures to increase your store’s service department productivity have made accurate pricing of repairs crucial to your bottom-line success.
You can increase your service department profits by using a professional repair pricing guide. Tom Weishaar, JA Certified Master Bench Jeweler with Underwood's Fine Jewelers,
Fayetteville, AR, will offer a session at JA New York Summer Show on “Pricing Repairs for Profitability—How to Develop a Comprehensive Repair Pricing Guide,” and he offers these tips on how to increase repair profitability:
- Profits from repair work are made at the take-in counter, not at the bench.
- When it comes to repair work customers value quality more than price.
- A professionally written estimate removes discounting from pricing repair work.
- Your repair pricing guide may be a customer’s first introduction to your store; it should look as good as the jewelry in your display cases.
- Every repair job that is promised for that day needs to be completed, polished, inspected and wrapped for presentation before your store opens for business.
Take The Tip:
- Jewelers of America is offering a full-day of Bench and Service seminars at the JA New York Summer Show, on Sunday, July 27. Attend Tom Weishaar’s presentation: “Pricing Repairs for Profitability—How to Develop a Comprehensive Repair Pricing Guide” at 10:00 a.m. on Sunday. The session is located in the Jewelers of America Retail Learning Center, on the show floor in booths 2982-3085. For more information or to register for the show click here.
- Jewelers of America members can get more ideas on how to sell repairs by reviewing Jewelers of America's Counter Points five-part series, "Understanding & Communicating Jewelry Repairs," by JA Director of Education David Peters. Counter Points are published in the JA newsletter, The J Report, and their archives are available in the Members section of JA's website, here.
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