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Last updateTue, 16 Jul 2019 9pm

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With faith and honor, the Gary K. family carries on a thriving, service-minded business

Gary KidsGary Khodanian with children (front) Natalie Khodanian Griffith, (back l-r) Mary-Jane Khodanian Smith, Karla Khodanian and Gary Khodanian.After the retirement of the second generation from the family manufacturing and wholesale jewelry company in Los Angeles, Gary Khodanian made a major move with his family to Alabama, settling in the city of Madison. In 1999, Gary K. as a third-generation jeweler established a retail store in a shopping center with a specialty in custom jewelry, and continues to be a family owned and operated full-service jewelry store.

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Retailer Roundtable: What special promotions do you use to drive business in the summer months?

“We don’t do a lot of events, but the one that we do consistently every year is that we do a 4th of July sale. When we do have a sale, we try to focus them around the holidays, so the 4th of July for our summer event is a natural fit. Sometimes we’ll do a ‘Red, White & Blue’ sale, and coordinate the tags so that anything marked with a red tag might be 20% off, and anything marked with a white tag might be 30% off, so we can carry through on the theme. That also saves us from marking each piece individually, as well. It just stays at its regular price, and we look at the tag color to determine the discount.

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Five generations strong, W.J. Hagerty & Sons delivers only the best in silver & jewelry care

In 1895, William Joseph Hagerty, a young chemist from South Bend, Ind., set out to find a better way to accomplish his weekly chore of polishing the family silver. He worked from a makeshift lab in the basement of his family home, measuring and mixing ingredients in a bathtub until he perfected a product that polished better, faster and with less mess than any polish before it. This was the birth of Hagerty Silver Foam and the dawn of a new method for simplifying the task of maintaining heirloom silver: wash, rinse and dry.

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From general store to jewelry store, Buchroeders adapting & succeeding since 1896

Buchroeders has a 120-year history. For owner Mills Menser’s mainly young bridal jewelry buyers that doesn’t matter. In appealing to today’s bridal customers it’s “all about them.” And Mills has made a number of changes to his family business to create a modern shopping experience with competitive pricing.

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Retailer Roundtable: Does repair work provide a significant portion of your profit? How does your store promote it?

“Our repair business is about 18% of our business, and we price repairs at a 2.7 to 3 time mark up. It’s profitable for us, but not quite as profitable as the custom work that we do. Being that we normally don’t discount repairs, our repair promotion consists of including it in our radio, TV and social media ads. We will also run a $25 ‘Spa Day’ special, so customers can bring their ring in for a professional buff and polish. We always pick up a lot of repairs from that. Running the ‘Spa Day’ special on Facebook has gotten us many new customers.”

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