Southern Jewelry News
  • Featured
    • All
    • Featured
    • Featured Retailers
    • Retailer Roundtable
    • Sponsored Content
    • Supplier Spotlight
    Quality Gold previews new HERCO products at JCK Las Vegas
    The Story Behind the Stone: Ancient Provenance
    King Jewelers staying in the ‘loupe’ since 1912
    The Story Behind the Stone: Ancient Provenance
    Sell jewelry the way you cook
    Pretty much perfect retailing for Wyoming couple
    Pretty much perfect retailing for Wyoming couple
  • Latest News
    • All
    • COVID-19
    • Furry Friends
    • Industry Awards
    • Industry Events
    • NRF
    • On The Move
    • Other News
    • Tradeshow News
    • Video
    • What's New
    HRD Antwerp certifies the first commercial lab-grown “full diamond” ring
    Research outlines factors that determine a purchase
    Alliance for Responsible Mining and Mercury Free Mining field test innovative artisanal gold processing system
    Jewelers for Children holds annual Rings of Strength event
  • Podcast
    How Star Gem Inc. Defines Jewelry Innovation
    Episode 33 – Anish Desai, Beyond Trends: How Star Gem Inc. Defines Jewelry Innovation 
    Inspiring Tales of Mentorship and Growth
    Episode 32 – Matthew Gross, Inspiring Tales of Mentorship and Growth 
    Behind the Success of running a jewelry trade shop
    Episode 31 – Ross Wesdorp, Behind the Success of Running a Jewelry Trade Shop
    Downsizing positioned Butler Diamonds for success
    Episode 30 – Doris Butler, Downsizing positioned Butler Diamonds for success
    Inside the United Precious Metal Refining
    Episode 29 – David Siminski, Inside the United Precious Metal Refining
    Episode 28 – John Bruggemann, Secure Your Financial Future by Diversifying
    Episode 28 – John Bruggemann, Secure Your Financial Future by Diversifying
    Darling of the Industry Konrad Darling of Darling Imports
    Episode 27 – The Darling of the Industry: Konrad Darling of Darling Imports
    Success in Jewelry and Writing
    Episode 26 – Success in Jewelry and Writing. Chuck Koehler of Anthony Jewelers
    Permanent Jewelry How Sunstone is Changing the Game
    Episode 25 – David Holloway, Permanent Jewelry: How Sunstone is Changing the Game
  • Columnists
    Optimize your jewelry store’s website for better organic traffic – here’s how!
    Image of Chuck Koehler
    The Retailer’s Perspective: Things That Haven’t Changed
    2,000 year old Roman intaglio ring. Photo Fellows Auctioneers
    The Story Behind the Stone: Ancient Provenance
    ChatGPT. Your secret edge?
    Applied Marketing 101: The Next Big Thing
    Applied Marketing 101: The View from Surat
    International School of Gemology Education Series: The Story of Anthill Garnets
    Making decisions work for you
    Making decisions work for you
    3 digital marketing lessons from great jewelry radio ads
  • Classifieds
  • Subscriptions
    • Newsletter Signup
    • Print Subscription
  • Digital Magazine
    • Southern Jewelry News
    • Mid-America Jewelry News
    • Archive
No Result
View All Result
Southern Jewelry News
  • Featured
    • All
    • Featured
    • Featured Retailers
    • Retailer Roundtable
    • Sponsored Content
    • Supplier Spotlight
    Quality Gold previews new HERCO products at JCK Las Vegas
    The Story Behind the Stone: Ancient Provenance
    King Jewelers staying in the ‘loupe’ since 1912
    The Story Behind the Stone: Ancient Provenance
    Sell jewelry the way you cook
    Pretty much perfect retailing for Wyoming couple
    Pretty much perfect retailing for Wyoming couple
  • Latest News
    • All
    • COVID-19
    • Furry Friends
    • Industry Awards
    • Industry Events
    • NRF
    • On The Move
    • Other News
    • Tradeshow News
    • Video
    • What's New
    HRD Antwerp certifies the first commercial lab-grown “full diamond” ring
    Research outlines factors that determine a purchase
    Alliance for Responsible Mining and Mercury Free Mining field test innovative artisanal gold processing system
    Jewelers for Children holds annual Rings of Strength event
  • Podcast
    How Star Gem Inc. Defines Jewelry Innovation
    Episode 33 – Anish Desai, Beyond Trends: How Star Gem Inc. Defines Jewelry Innovation 
    Inspiring Tales of Mentorship and Growth
    Episode 32 – Matthew Gross, Inspiring Tales of Mentorship and Growth 
    Behind the Success of running a jewelry trade shop
    Episode 31 – Ross Wesdorp, Behind the Success of Running a Jewelry Trade Shop
    Downsizing positioned Butler Diamonds for success
    Episode 30 – Doris Butler, Downsizing positioned Butler Diamonds for success
    Inside the United Precious Metal Refining
    Episode 29 – David Siminski, Inside the United Precious Metal Refining
    Episode 28 – John Bruggemann, Secure Your Financial Future by Diversifying
    Episode 28 – John Bruggemann, Secure Your Financial Future by Diversifying
    Darling of the Industry Konrad Darling of Darling Imports
    Episode 27 – The Darling of the Industry: Konrad Darling of Darling Imports
    Success in Jewelry and Writing
    Episode 26 – Success in Jewelry and Writing. Chuck Koehler of Anthony Jewelers
    Permanent Jewelry How Sunstone is Changing the Game
    Episode 25 – David Holloway, Permanent Jewelry: How Sunstone is Changing the Game
  • Columnists
    Optimize your jewelry store’s website for better organic traffic – here’s how!
    Image of Chuck Koehler
    The Retailer’s Perspective: Things That Haven’t Changed
    2,000 year old Roman intaglio ring. Photo Fellows Auctioneers
    The Story Behind the Stone: Ancient Provenance
    ChatGPT. Your secret edge?
    Applied Marketing 101: The Next Big Thing
    Applied Marketing 101: The View from Surat
    International School of Gemology Education Series: The Story of Anthill Garnets
    Making decisions work for you
    Making decisions work for you
    3 digital marketing lessons from great jewelry radio ads
  • Classifieds
  • Subscriptions
    • Newsletter Signup
    • Print Subscription
  • Digital Magazine
    • Southern Jewelry News
    • Mid-America Jewelry News
    • Archive
No Result
View All Result
Southern Jewelry News
No Result
View All Result
Home Featured Articles

From GOB to new J-O-B

Jeweler shares his career transition story

Paul Holewa by Paul Holewa
April 16, 2020
Share on FacebookShare on Twitter
Reading Time: 9 minutes
GOB ext
David Jay Jewelers’ storefront.

No matter the jewelry store size, the population it serves or years in business, the decision to close a multi-generational, family-owned business is a monumental one. Scott Slobotkin and his father Jay discovered this in March 2019. That’s when the father-and-son duo realized it was time to close Warrington, PA-based David Jay Jewelers after 46 years in business.

“It was kind of a perfect storm of conditions that led to the decision,” says Scott. “My father was looking to retire at the end of 2019, our lease was expiring at the end of last year, and I’d lost the passion for the business. The good thing was both of us were on the same page, at the same time, about closing the store.”

Jay started working in the jewelry industry at the young age of 18. He spent many years learning the craft and understanding what it took to run a retail store. And, in 1974, Jay opened his first store in Springhouse, PA. A few years later Jay moved his jewelry store to Dresher, PA, where the family business would thrive for 35 years.

Scott officially joined the family business in 2002. He started at a young age with the usual tasks and worked his way up. Dresher proved to be a lucrative market for Jay and Scott. So much so that in 2007 they decided to open a second location in Warrington, PA.

GOB int
The showroom at David Jay Jewelers during the heydays.

“The Shops at Valley Square was a great location for us to open a second store,” says Scott. “It was a fairly upscale lifestyle center with a really good mix of 40 national, regional and local businesses. The surrounding market was solidly middle- to upper-middle class on up to affluent. And, the location allowed for a lot of foot traffic.”

While there was a considerable amount of competition, Jay and Scott realized the best way to differentiate themselves from other jewelry stores in the area was to continue specializing in custom design, fashion jewelry, appraisals and full service repairs with a shop on premises. They also wanted their second store to make bridal and high-end fashion main focal points. And, it was imperative to carry an extensive inventory.

Jay Slobotkin, founder of David Jay Jewelers.
Jay Slobotkin, founder of David Jay Jewelers.

For the first three to four years the Warrington location was doing very well. Thanks, in part, to a solid business foundation and many years of retail jewelry experience. Even though the 2008 housing market crash, and prolonged languishing recovery, “held them back a bit,” according to Scott, once the economy leveled off David Jay Jewelers got on solid footing.

Still, the cumulative impact forced Jay to close the Dresher location in 2009, making the Warrington location their flagship store. In the years that followed Jay and Scott were doing well.

But business at the Warrington lifestyle center “never dramatically increased for us,” says Scott. “In subsequent years, it became harder and harder to do the same amount of business, and from 2011 to 2013, things didn’t change much even with the economy picking up. Ultimately, in the last few years, the risk wasn’t worth the reward.”

Once Jay and Scott finalized their decision to close they had more than six months to plan and execute the store closure. “One thing we had on our side was time,” says Scott. “That’s my main piece of advice to jewelry store owners looking to close their business. Give yourself a long timeline to plan and strategize accordingly.”

The first order of business was to address all loose inventory, which included a number of loose diamonds and colored stones as well as pre-owned jewelry that could be refurbished. “Given the amount of loose inventory we had, producing set, saleable jewelry we could sell took several months,” says Scott.

Scott Slobotkin, former owner of David Jay Jewelers.
Scott Slobotkin, former owner of David Jay Jewelers.

In August, Jay and Scott felt the need to contract a liquidation company to help. “We were reluctant at first, given our prior experiences with these types of companies, but assumed most GOB sales required a liquidation company to help,” says Scott

The liquidation company provided very little info and content prior to the sale and communication was minimal, he said. As the sale began, they decided the efforts provided by the liquidation company did not compare to what Jay and Scott would be able to execute on their own. After weeks of deliberating, Scott decided to end the working relationship in early December.

Their last Christmas season in the store was quite stressful, starting with the mid-November official store closing notice going out to all customers. “We took a ‘thank you for your years of support’ approach to the mailer that was sent out on Thursday, November 12. Three days later, as the cards started arriving by mail, it was like a bomb went off that Saturday. The phones were ringing constantly.”

With the difficult tasks just getting started, Jay and Scott took the reins of their GOB sale. Scott decided to make his mainly digital campaign more “targeted,” directing the GOB sale at certain customers and demographics in his market. This proved to be “very effective,” says Scott. “Especially on Facebook and Instagram.”

And, e-blasts were all price-driven messages. “In the waning weeks and days we did a countdown approach with e-blasts,” says Scott. “Showing the GOB discounts helped bring in price-point shoppers and those looking for very good deals during the holidays.”

The GOB sale officially ended on Saturday, January 18. As luck and timing would have it, Warrington was bracing itself for several inches of snow that day. Despite the weather, the final GOB sale day was a ringing success. It was punctuated with what Scott calls “a sign.”

“Just as we’re closing things up close to 4:00 PM, the power in the entire mall goes out during our very last transaction of the store’s history,” says Scott. “It was a very good sale. We got through it the old-fashioned way, with hand-written receipts. Normally, power outages are momentary. This one lasted hours. When we locked the doors for the last time, we did so in the dark using the flashlights on our phones.”

Upon leaving the family’s store for the last time, Scott Slobotkin toasts with a shot of scotch.
Upon leaving the family’s store for the last time, Scott Slobotkin toasts with a shot of scotch.

These days Scott feels considerably less stress. And he is emotionally, mentally and physically ready for the path ahead. At press time, Scott was considering several options leading with the possibility of providing store closure consulting services to other retailers as well as continuing his development on a peer-to-peer online diamond marketplace. Jay, even at retirement age, is considering becoming a by-appointment private jeweler.

In looking back at the whole experience, Jay and Scott acknowledge the enormous amount of work their staff contributed to making the GOB sale an overwhelming success. “Telling them the store was closing was perhaps the hardest part of it all,” says Scott. “But everyone stuck with us till the very end. We couldn’t have done it without them and we’re immensely grateful and humbled by their commitment to our family business, years of service and loyalty.”

Paul Holewa

Paul Holewa

Paul Holewa has worked as a gem and jewelry industry trade journalist for more than 20 years. He learned about the gem and jewelry industry firsthand in Bangkok and Chantaburi, Thailand, global hubs for colored stones, diamond cutting, and jewelry production. Paul called Bangkok home for 11 years. He has travelled to remote gemstone mining sites throughout Southeast Asia, as well as major distribution and manufacturing centers in that region. For most of his years as a trade journalist, Paul has specialized in writing small business management articles for retail jewelers. His specialty has been developing magazine news feature stories and online blog content to help jewelry store owners to manage their store more effectively and, more importantly, to sell more jewelry. Paul has written on a wide range of jewelry store management topics from sales training and staffing, to video marketing and social media campaigns.

Related Posts

The Story Behind the Stone: Ancient Provenance

Sell jewelry the way you cook

June 1, 2023
The Story Behind the Stone: Ancient Provenance

King Jewelers staying in the ‘loupe’ since 1912

June 1, 2023
Pretty much perfect retailing for Wyoming couple

Pretty much perfect retailing for Wyoming couple

May 1, 2023

Johnston Jewelers – A Good Catch

May 1, 2023

Latest News

Other News

HRD Antwerp certifies the first commercial lab-grown “full diamond” ring

June 5, 2023
Other News

Research outlines factors that determine a purchase

June 5, 2023
Other News

Alliance for Responsible Mining and Mercury Free Mining field test innovative artisanal gold processing system

June 5, 2023

Other News

Optimize your jewelry store’s website for better organic traffic – here’s how!

Jewelers for Children holds annual Rings of Strength event

The Jewelry Symposium celebrates successful inaugural conference

Quality Gold previews new HERCO products at JCK Las Vegas

Episode 33 – Anish Desai, Beyond Trends: How Star Gem Inc. Defines Jewelry Innovation 

Sell jewelry the way you cook

Southern Jewelry News

© 2023 Southern Jewelry News.

Additional Information

  • About
  • 2023 Jewelry Trade Shows & Events
  • Media Kit
  • Contact
  • Sitemap
  • Newsletter Signup

Get Social with Us

No Result
View All Result
  • Featured Articles
    • Featured
    • Featured Retailers
    • Retailer Roundtable
    • Supplier Spotlight
    • Sponsored Content
  • Latest News
    • What’s New
    • Industry Events
    • Tradeshow News
    • On The Move
    • Other News
    • Furry Friends
  • Podcast
  • Columnists
  • Classifieds
  • Subscriptions
    • Newsletter Signup
    • Print Subscription
  • DIGITAL MAGAZINE
    • Southern Jewelry News
    • Mid-America Jewelry News
    • Archives

© 2023 Southern Jewelry News.