One of my clients said, “Make sure that the design of your store and the look of your interior is in line with the quality of your jewelry.” When I built out my new store, I really upped the bar on the design. Even though I’m pretty good with interior design on my own, I hired a designer, Julie Hardridge with Architexture Group. She took our shop to a whole different level.
—Marisa Perry, owner, Marisa Perry Atelier, New York City, marisaperry.com
The best advice I’ve received is that retail is challenging and requires perseverance. My father, who lived to 93 and worked until he was 92, gave me that advice. There are ups and downs in retailing; anyone who’s survived the last half-dozen years knows the challenges that we’re facing now with new methods of selling. I fall back on the experience factor; if we persevere, we are going to get through.
—Robert Mednikow, owner, Mednikow Jewelers, Memphis, Tenn., mednikow.com
You can never raise the price, but you can always lower it. That advice came from my dad. It’s very useful and makes sense to a lot of consumers because everyone is always asking for a discount. You can theoretically raise the price, but at that point you’ve lost the sale.
—Jack Seibert, owner, Jack Seibert Goldsmith & Jewelers, Columbus, Ohio, jackseibert.com
My predecessor—who I worked for and was my mentor for 12 years—always said, “People come first.” You have to treat everyone who walks through the store as if they have an endless budget, regardless of whether they look homeless or like the queen of England.
—Jeff McKeegan, owner, Marshalls Jewelers, San Luis Obispo, Calif., marshalls1889.com