Coping with Calamity

It can happen to any family business: the unexpected illness, injury, or death of the owner/manager. The sudden removal of the dynamo at the heart of the business—the leader who makes financial decisions and is the key contact for vendors and customers—can leave a void that's not easily filled. What does a family business do? Who takes over? How does the store hold on to customers and prevent the crisis from overwhelming the business? Tom Cook Jeweler, a successful, $2 million, family-owned business in Daytona Beach, Fla., faced this problem not once but twice within four years. The story of how the firm weathered two unexpected storms provides lessons that can help other family jewelers cope with such a crisis. Current company president Sheryl Cook shared that story with JCK. We also got some advice from the experts: Deborah Taylor and John Gardner, wealth management advisors
JCK PRO

This content is exclusive to JCK Pro subscribers. Subscribe now to access this and much more with discount code GOPRO21 for $199 for an entire year of access (reg. $249).

SUBSCRIBE TO CONTINUE

Already a JCK Pro? Log in

A JCK Pro subscription is your all-access pass to people and resources on the
cutting edge of the retail jewelry industry, from the industry authority you
know and trust

Learn about the Perks of JCK Pro

Log Out

Are you sure you want to log out?

CancelLog out