JCK magazine and Business Resource Services (BRS), Seattle, have announced a new joint venture to help jewelers improve the profitability of their businesses. In addition to an industrywide benchmarking study, the project will include the establishment of performance groups for jewelers to learn to identify, measure, and manage the key drivers of their profits and cash flow.
Business Resource Services has for many years been a popular participant in the educational programs at The JCK Shows. BRS president Steven C. LeFever launched a new business and financial column in JCK magazine in January of this year. Both the column and the educational seminars are based on the BRS “Profit Mastery” program, a process for managing and financing independent business. “Profit Mastery” has proven highly successful in the pharmaceutical industry and in other fields with a significant number of small independent businesses. The articles show jewelers specific ways to systematically examine their businesses and improve profitability.
JCK and BRS are expanding the “Profit Mastery” program in the jewelry industry. No longer a purely educational presentation, the new program’s benchmarking study (slated to begin this summer) and performance groups add a new dimension to the business of owning and operating retail jewelry stores. The benchmarking study will provide a yardstick for jewelry retailers to use in evaluating their own businesses as well as help them develop policies and programs for continuous improvement. The performance groups will include noncompeting retailers, focus on best practices, and help participants learn to plan. During the next few months the benchmarking study will be rolled out to participating retailers around the country, and results will be published exclusively in JCK prior to the year’s end. For more information about the study or about how to participate in a performance group, contact Steve LeFever at Business Resource Services, (800) 488-3520, or email: email@example.com.