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Kickstart Your Jewelry Repair Business With 5 Easy Tips

Jewelry Repair Header Blog

Jewelry repair is an underlying revenue stream that pays the bills when things get slow. Did you know repair averages anywhere from 10% to 15% in monthly revenue?

Research shows the main difference between a $1 million shop and a $2 million shop is not the number of jewelry repairs performed. It is the pricing of those repairs. You may be leaving big money on the table by undercharging or overlooking great sales opportunities.

Here are five ways to maximize revenue through jewelry repair:

1. Promote on All Platforms

As an expert in the jewelry industry and a trusted member of your community, take every opportunity to promote your business. Television, radio, and print ads are all great opportunities to tout your repair services. But don’t limit yourself to traditional media. Use Facebook, Instagram, and Twitter to spread the word to customers who spend lots of time on those platforms.

Check out our best social media tips here.

2. Offer Limited-Time Promotions

Your promotion should be something you can do quickly and inexpensively, like a complimentary battery change. Offer to replace watch batteries for just the cost of the battery. Or offer half price on a chain solder.

The idea is to reward your loyal customers while attracting new ones to your store without losing much time or expense. And, of course, a 15-minute turnaround time gives your customers 15 minutes to browse while they wait!

3. Don’t Discount Everything!

If you’re like many jewelers, you’re not charging everything you could be for repairs. How do you know what you should charge?

The industry standard is Geller’s Blue Book, which provides solid guidelines. Do some research to see how the recommended pricing in Geller’s Blue Book compares to your current rates. Then, adjust your pricing accordingly. Don’t be scared to raise your jewelry repair rates. After all, your time and workmanship are invaluable.

David Geller Blue Book Jewelry Repair Business
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4. Build Trusting Relationships

You’ve seen the customer who hesitantly hands over her engagement ring to have a prong re-tipped. When you tell her it will take 30 minutes, she offers to stick around while you do the work. And who can blame her for being so nervous? She’s entrusting you with what might be her most cherished possession.

Create a sense of trust with a standard, rigorous take-in process using a detailed repair form. You can never be too thorough:

  • Measure the stones
  • Describe their color in detail
  • Notate any damage to the piece and the condition of the stones
  • Weigh the item
  • Take pictures from all angles

By taking pictures of her ring and stapling it to the repair envelope, she’ll feel confident that she’s getting back exactly what she left. Plus, if details are not documented on intake, any jewelry repair discrepancies may come back to haunt you.

Kickstart Jewelry Repair 3 Part Jewelry Repair Forms Kickstart Jewelry Repair Grobet Repair Envelopes
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5. Upsell, Upsell, Upsell

Use the take-in process to tell your customers about the other services you offer. Tell them you can remount an inherited heirloom piece or engrave the locket she got for her birthday. Or offer an appraisal for their engagement ring so that they can get it insured.

You can also charge more for premium services, like rush jobs. Customers who need their jewelry soon are generally willing to pay a higher price. And don’t forget to use your counter space for trendy, reasonably priced items near the take-in counter to make impulse purchases more likely.

       Kickstart Repair Business Best Built Engraver       Kickstart-Repair-Business-Jewelry-Selling-System
                           26-3928 Personalized Jewelry Selling System

Here are 10 simple steps to the perfect jewelry repair process

Jewelry repair ten tips


Editor’s Note:
 This post was originally published on January 22, 2018.  




Introducing the 2018 Battle of the Benches Competitors

Battle of the Benches Blog Header

Mark your calendars! Stuller’s Bench Jeweler Workshop begins Friday, March 23 where our 3rd Annual Battle of the Benches competition will kick off. This year, we’re bringing back four past competitors to participate in a real-time jewelry challenge, each seeking their claim to bench jeweler glory.

 

Meet the incredible artisans set to compete in this year’s Battle of the Benches challenge


Battle of the benches David Adamson headshot

David Adamson

David Adamson Designer Jewelry

David first developed a love for the trade working alongside his father in the family store at the age of 16. Starting from the bottom taught David all the important skills that every bench jeweler needs to succeed. Today, he is the proud owner of David Adamson Designer Jewelry. Being in the jewelry industry for over 40 years taught David how to adapt to change. He knows it’s a new, ever-growing retail landscape and he constantly attends CAD training seminars and technology fairs to keep up with current changes.

When it comes to customization, David prefers to use RhinoGold. He enjoys the software’s simplicity, intuitiveness, and ease of use. David’s career as a jeweler began at the bench (rather than as a CAD jeweler), which led him to gravitate towards RhinoGold software.

When not at the bench, David loves to help people study the Bible. He also likes to sail, ski, travel, and hang out with his children and grandchildren. David took home the gold in the 2016 Battle of the Benches challenge and will return to reclaim his bench jewelry glory.

Battle of the benches David Adamson Bench Jeweler Workshop


Battle of the benches Patrick Dobbs HeadshotPatrick Dobbs

Texas Institute of Jewelry Technology

Growing up in West Texas, Patrick’s passion for jewelry began when a teacher offered him a job making belt buckles. It was this teacher who encouraged Patrick to pursue a career in the jewelry industry.

Today, Patrick is a jack-of-all-trades. He sells, designs, and creates with CAD, 3D printing, mills, stone setting, fabrication, and more. For him, working under pressure is a daily thing. When asked about his favorite part of the job, “It’s all about the reveal,” he says. “Seeing a customer’s face light up when they see the jewelry that I’ve worked so hard to create is indescribable.”

During his free time, Patrick loves to work out and he likes to play tennis. He also spends his free time tinkering with his Jeep Wrangler. Whether it’s jewelry or cars, Patrick Dobbs enjoys working with his hands, making him a formidable competitor for this year’s Battle of the Benches competition.

Battle of the benches Patrick Dobbs Bench Jeweler Workshop


Battle of the benches Craig Farley HeadshotCraig Farley

FCF Jewelry Designs

An artist at heart, Craig Farley’s is gifted at working with customers and translating their ideas into purposeful pieces. His has a passion for creating future heirlooms so customers can express something personal and meaningful.

His bench jeweler career began 22 years ago. He started as a polisher at a small trade shop and quickly progressed to general repairs. Next, he tried his hand at fabrication. Craig understood the value of continuing education and took a wide variety of courses ranging from advanced diamond setting at GIA to a mokume gane workshop by Steve Midgett. Wax carving was next on his list of things to learn. After mastering these skills, Craig realized that to take his business to the next level, he needed to jump into computer-aided design (CAD). “Repairs are the backbone of a good shop,” says Craig. “But custom design makes it so much more than just a job to me.” These days, Craig is a master Matrix designer, bringing incredible designs to life.

Craig’s other passions include martial arts and playing guitar in the local music scene. “Maybe the discipline of martial arts training mixed with my inner rock star makes me a good challenger,” he suggests. The spotlight doesn’t bother Craig and he’s looking forward to competing in Battle of the Benches!

Battle of the benches Craig Farley Bench Jeweler Workshop


Battle of the benches Jyothi Forman HeadshotJyothi Forman

Georgie’s Fine Jewellery

Jyothi Forman is a jeweler at Georgies Fine Jewellery in Narooma, New South Wales, Australia. She specializes in hand fabricating custom jewelry. Jyothi, a blossoming 25 years old, grew up in a small regional town called Tanja and went to school in Bega, New South Wales.

“I’ve always been a practical person and love working in a hands-on manner. In school, I loved ceramics, woodwork, metalwork, and visual arts. When I stumbled upon the jewelry trade, I couldn’t believe my luck! It combines everything I enjoy: practicality, creativity, and an ongoing challenge,” Jyothi explains. “I knew I loved making jewelry since my first day on the bench.”

Outside of work, she loves exploring the outdoors. Mountain biking, playing soccer, painting, and hanging out with her sweet pup, Baxter, are a few of her favorite activities. Jyothi will be returning to Bench Jeweler Workshop this year to defend her 2017 Battle of the Benches title.

Battle of the benches Jyothi Forman Bench Jeweler Workshop


Stay tuned for this year’s Battle of the Benches competition at Stuller’s 2018 Bench Jeweler Workshop!

 




5 Tips to Kickstart Your Jewelry Repair Business

jewelry repair blog header

Few can argue that jewelry repair is an underlying revenue stream that pays the bills when things get slow. In fact, repair averages anywhere from 10-15% in monthly revenue, peaking in January. That’s right, you know all too well about the post-Christmas sizing, modifications, engravings, and enhancements that waltz through your door after the big gift exchange. But ultimately, jewelry repair is a year-round business. What you might not know, though, is that research shows the main difference between a $1 million shop and a $2 million shop is not the number of jewelry repairs performed, but the pricing of those repairs. You may be leaving big money on the table by undercharging or overlooking great sales opportunities.

 

Here are five ways to maximize revenue through jewelry repair–

 

1. Promote Yourself Widely

As an expert in the jewelry industry and a trusted member of your community, take every opportunity to promote your business. Television, radio, and print ads are all great opportunities to tout your repair services. But you don’t have to limit yourself to traditional media these days. In fact, you shouldn’t! Get on Facebook, Instagram, and Twitter to spread the word. You’ll reach those youthful customers who spend much time on social media and are eager to shop locally. These social platforms are booming, and best of all, they’re free! So get online and spread the word about your jewelry repair services. Check out our best social media tips here.

2. Offer Limited-Time Promotions

Your promotion should be something you can do quickly and inexpensively – a complimentary battery change, for instance. Offer to replace watch batteries for just the cost of the battery. Or offer half price on a chain solder. The idea is to reward your loyal customers while attracting new ones to your store without losing much time or expense. And, of course, a fifteen-minute turn-around time gives your customers fifteen minutes to browse while they wait!

3. But Don’t Discount Everything!

If you’re like a lot of jewelers – maybe most – you’re not charging everything you could be for repairs. How do you know what you should charge? The industry standard, of course, is Geller’s Blue Book, which provides solid guidelines. Do some research to see how the recommended pricing in Geller’s Blue Book compares to your current rates. Then, adjust your pricing accordingly. Don’t be scared to raise your jewelry repair rates. After all, your time and workmanship are invaluable. Need more information on pricing or other business-related matters? Visit David Geller’s JewelerProfit.com for more.

4. Build Trust

You’ve seen the customer who hesitantly hands over her engagement ring to have a prong re-tipped. When you tell her it will take about 30 minutes, she offers to stick around while you do the work. And who can blame her for being so nervous? She’s entrusting you with what might be her most cherished possession. Create a sense of trust by using a standard, rigorous take-in process using this 3-part jewelry repair form. You can never be too thorough: measure the stones, describe their color in detail, notate any damage to the piece and the condition of the stones, weigh the item, and take pictures from all angles. By taking pictures of her ring and stapling it to the repair envelope, she’ll feel confident that she’s getting back exactly what she left. Plus, if details are not documented on intake, any jewelry repair discrepancies may come back to haunt you.

5. Upsell, Upsell, Upsell

Use the take-in process to tell your customer about all the other services you offer. Tell her you can remount the stone in that ring she inherited or engrave the locket she got for her birthday. You can also charge more for premium services like rush jobs. Customers who need their jewelry soon are generally willing to pay a higher price. Tell her you can appraise that engagement ring so she can get it insured. And don’t forget to use your counter space for trendy, reasonably priced items near the take-in counter to make impulse purchases more likely.

 

Here are 10 simple steps to the perfect jewelry repair process

Jewelry repair ten tips

Download and print this invaluable handout regarding tips on pricing by David Gellar

 

Editor’s Note: This post was originally published on January 16, 2015 and has since been completely revamped for accuracy. 




Coming Soon to a Door Near You – Part II

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Over the past year, our Tools Department has spent countless hours developing the 2016-2017 Tools Catalog. They researched years of your comments from past catalogs to give them a guide as to what to keep, what to discard, and what to enhance for this new book.

And one of those enhancements is the introduction of icons to guide you in making the best purchase for your needs. Jason LeMaire, Product Director of Tools, reviews these newest – and coolest – catalog features that you need to know about.

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1. Tried and Tested Icon

Stuller’s manufacturing facility covers over 350,000 square feet, meaning we make a ton of product every day. We, like you, have our favorites and trusty go tos to get the job done efficiently. For this go ‘round we decided to insert an icon next to products we use letting you know that if they work for us you’ll probably love them, too.
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2. Video Icon

You need resources to help you decide which products work best for you and your unique situation. In addition to adding more product details in the catalog, we’ve also added a play icon near products that have videos on Stuller.com. Use the product videos to be fully informed about the features and benefits of these items.
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3. Stuller Exclusive Icon

As you know, Stuller is a jewelry manufacturer. Many of the products you use everyday so do we. And, we also get just as frustrated when the tools we use fail. Over the years Stuller has learned more about what makes those products fail and have learned a thing or two about how to make them better. So, we’ve developed a line of our own that we want you to know about. When you see the Stuller Exclusive icon you’ll know these products have our official seal approval [because we made them.

These are just some of the improvements to our over 600-page book. I’m confident that with over 400 new items this catalog, you’ll find everything you need to operate your bench successfully. We’re really excited about this book and hope you love it. Leave us some comments below to let us know what you think!




Coming Soon to a Door Near You

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Stuller’s new Tools catalog will be landing on your doorstep any minute. Our experts in the Tools department have spent countless hours curating the best tools for your bench. This catalog is jam-packed with over 500 pages of the latest and greatest and your trusted favorites. It’s been completely reimagined to offer you more information when you need it, where you need it, allowing you to find the perfect item and get back to your bench.

Recently, I caught up with Jason LeMaire, product Director of Tools and asked him to give me the low down on the newest features that 2016-2017 catalog contains. And for brevity sake, I asked him to give me the top 3. Here’s what he had to say.

Screen Shot 2015-06-09 at 8.41.11 AM1. Highlighted series number
In the past, series numbers could have been hard to identify due to so much text and information about the product. To make things easier to find, order, or find more information about online, we’ve highlighted the series numbers in blue for easier access.

Screen Shot 2015-06-09 at 8.42.56 AM2. Easy reference replacement parts

No more will you have to search the catalog for the location of replacements parts. For the 2016-2017 catalog we’ve located those pieces right under the location of the product. So, next time you need a replacement part for your steamer you can find that item more quickly as it’s located in the same spot as where you first discovered the unit.

3. Shop by brand

Everyone has brands that they prefer to work with. To make it easier for you to identify what parts belong to what brand we’ve located the logo clearly on the page. This allows you to get it and get out with the brand you love.

To hear more about the features in the newest tools catalog or for other questions concerning tools please call our tools tech line at ext 4300. And don’t forget to let us know what you think about the new tools catalog by leaving a comment below.