[Jewelry making - Article 00526] - Re: [Orchid] Going retail

[Daniel R. Spirer]

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Kim,

    Again, the issue with what you pay the landlord to do or that they
    have done is regional. You have to check locally whether it's a
    common practice or not. As for the $ amount coming in from
    advertising, we ask every single person coming in how they heard
    about us and for a period of time we tracked specific dollar numbers
    on those that came in from ads. I stopped doing that after it became
    apparent that we were making good money from them. There was a period
    when we could quite easily track $10 per $1 of expenditure, because
    we had just started advertising, but then it gets a little bit harder
    because the customers who found you through the ads become regular
    customers. You don't ask them any longer how they found you because
    you already know them, but they still originally came to you from
    the ads. So then you have to extrapolate a little. I am also aware
    that we don't get as much of a direct response now as we used to so
    my figures dropped a little bit. I haven't done a close dollar
    tracking in awhile (again because some of the people who originally
    came in from the ads are repeat customers and I don't want to ask
    them again and again how they found us) but I know that we generate
    at least that much, if not more from the advertising. 

Daniel R. Spirer, G.G.
Daniel R. Spirer Jewelers, LLC
1780 Massachusetts Ave.
Cambridge, MA 02140
617-234-4392
www.spirerjewelers.com

 
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