Established Jewelry store for sale

[engatwork]

My mom is getting to the point where she can no longer keep operating the jewelry store that she has owned since 1980. The store has been under the same name/location since at least the 40's and carries hi end jewelry along with Vera Bradley and bridal gift type stuff - China and things like that. She is reluctant to let the news get out that the store is available in the local community. Any ideas on how to market it? I've thought about putting it on ebay.

[SwampYankee]

Originally Posted by engatwork

My mom is getting to the point where she can no longer keep operating the jewelry store that she has owned since 1980. The store has been under the same name/location since at least the 40's and carries hi end jewelry along with Vera Bradley and bridal gift type stuff - China and things like that. She is reluctant to let the news get out that the store is available in the local community. Any ideas on how to market it? I've thought about putting it on ebay.

No, but word might get out if it's on ebay.

[Carleton Hughes]

Nobody working for her who would be interested? Is it a small, one person retail store?

[engatwork]

It is a small retail store but she has 4 ladies that work for her. None of them are interested in it. I've got the paperwork on sales for last year. They sold $334k worth of stuff last year.

[Carleton Hughes]

Originally Posted by engatwork

It is a small retail store but she has 4 ladies that work for her. None of them are interested in it. I've got the paperwork on sales for last year. They sold $334k worth of stuff last year.

Jeez Louise! Sounds like a great operation. Here's a thought. Retail Jewelry trade publications frequently have business opportunities listed. If it's that successful she must have great connections in the trade.

Ebay would be good to get the word out but I would explore the "insider" angle first.

[Dee8go]

There are also business brokers, who do that sort of thing.

[engatwork]

It could be a money maker. The problem with it is that she keeps 4 or 5 ladies working along with a man that comes in and does repairs on Wednesday. She has about two time the ppl she needs with it but being old school she won't lay anyone off. The younger girls that work for her have started putting it out on facebook and has been generating a good bit of customers. Mom does not want word to get out in the little town (Dublin, Ga) that it is for sale. She is steadily losing her mind and really has no business dealing with money anymore.

[TylerH860]

Has she started putting the word out to the wholesalers that sell her the jewelery? Many of them get tired of life on the road and look for a store to set up roots. They also have networked themselves and know every jewelery store owner in the area that might be interested in another location.

If everything is paid for and the assets aren't really worth much selling it all outright, maybe she could owner finance someone who has some collateral . More risk obviously but may be a better alternative to just closing down and selling the inventory at a substantial discount. She could get a steady check and all she has to do walk to the mailbox.

[TylerH860]

Something also to consider. Going out of business sales are crazy money makers. Do it during the holiday season and allow wholesalers or other nearby retailers to commission their stock to keep the selection up in the shelves. When the store closes they can take whatever is left. Could make a better nest egg than selling the store itself.

People go stark raving mad with 50-75% off signs in the windows. Nevermind that jewerly is markup up 300-500%.

[hsm162@cs.com]

I read your forum note about your mothers Jewelry Store for sale. Please call me: Harvey Mandel
413-567-1966