[Jewelry making - Article 00135] - Re: [Orchid] Wholesale -retail cost of gems

[David Geller]

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    You'll find this to be semi-typical for jewelers across the country
    as a markup above your cost. 

    Markup itself is important but more important is your "turn". That's
    how many times in a year you sell an item. Buy it in January and sell
    it buy December. The jewelry industry is typical for a turn of "1" at
    these numbers. 

    You can sell it for a lower markup if you can have a higher turn. 

    To find your turn take last years cost of your merchandise sold and
    divide it by your year end inventory level. 

	Actual Dollar Cost	Net Markup Needed
	0.00 - 50.00			3.00
	50.01 - 100.00			2.50
	100.01 - 500.00		2.25
	500.01 - 3000.00		2.00
	3000.01 - 5000.00		1.69
	5000.01 and up		1.60

    I have an excellent book on turn and markup, it's "How to Start &
    Run a profitable Retail Business by Jim Dion. It's $19.95 plus
    shipping. If you're interested, let me know and I'll send you more
    info and an order form by either email or fax. 

David Geller

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