How can a small family run store have competitive prices?
We happy to answer this question!
Twenty years ago it was very difficult for an independent
jewelry store to have good prices
because most of the volume dealers and larger
manufacturers
would demand a very large opening order in order to do business
with them.
A lot of the smaller independents were forced
to buy their inventory
from what is called a jobber.
A jobber is a distributor who would buy from
several to many manufacturers,
put together a catalog and mark up the jewelry
30% to 50% and then sell it to retailers.
As you can see if a small jeweler
would buy much inventory from a jobber
they would have a difficult time
competing with anyone who were buying direct.
At Randy’s Jewelry we have the
lowest prices
because we buy our inventory direct from manufacturers and large
importers.
Of course we buy raw castings and make over half of our inventory ourselves.
We buy in quantity, use a smaller mark up on our jewelry a
nd we are
tenacious buyers so that we can save our customers considerable money.
The
reason we can use a lower mark up is simple, overhead and efficiency.
Our rent
is about one twentieth the rent paid buy a large jeweler at that mall.
According to a 1991 statistic comparing jewelers
we have one third the number of
employees required for our annual gross sales.
When you add up the facts it is
very hard for the big jewelry stores to
compete with the aggressive independent
jewelers of today.
At Randy’s Jewelry we are proud, that we, through our hard
work and effort,
have apples to apples better pricing than the areas biggest
discount jewelers.
Thus our slogan “WE MAKE QUALITY AFFORDABLE”.