How to Branch Out — Without Going Out on a Limb

If you run one store successfully, it should be easy to open a second one, right? Wrong. “There are a lot of growing pains in learning to run a second store,” notes St. Paul, Minn., jeweler Mark Moeller, who went through the experience with his Edina, Minn., store. “Running two stores isn’t just doubly hard. It’s 10 times harder.” Although difficult, opening a second store can be an independent jeweler’s key to success. Here’s some advice from consultants and jewelers on when and why you should branch out with a second store. When to open a second store. A jeweler, like any good businessperson, should always be open to new opportunities. But when exactly should you think about opening a second store? There are some signposts. Family reasons. Most of the retail jewelry business is composed of independent jewelers, and most of those stores are family busin
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