[Jewelry making - Article 00896] - [Orchid] right time to open Jewellery Store

[jeff]

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Hello Everyone,

    I was wondering when you felt it was the right time to open up a
    'brick and mortar' Jewellery store? 

    My situation is like this...I'm the industry expert for my area...I
    buy rough colored stones and diamonds, I've cut an Ideal Hearts and
    Arrows Diamond on my first go...I'm an expert gem faceter and often
    repair and sell custom cut gems to the trade and I have several large
    trade accounts for doing appraisals. 

    I also enjoy the retail side of the business...I keep my profit
    margins for trade and retail separate and I never appraise anything I
    produce for a retail client. I really enjoy the retail side of the
    business because I am known as the Gem and Jewellery Guru whom is an
    expert in the field. I make sure the client gets exactly what they
    want, disclose all treatments, do a bit of education and explain to
    them that several people whom call themselves Jewellers have no
    education in identifying treatments or differentiating qualities
    between gems. I'm humble...I don't flaunt or brag to others about my
    achievements...one of which was finding a rough 2 gram untreated ruby
    and custom cutting it into a 5carat untreated ruby with a wholesale
    price of $60,000.00 or $250,000.00 wholesale emerald which a great
    client of mine is keeping as an investment. Beside the point. 

    I get overwhelmed with the potential cost of leasing and insurance
    etc and wondering I will 'make it'. Mostly likely I'm afraid of the
    unknown. 

    I'd more than appreciate your experiences and how you've dealt with
    the above. 

Kind regards,

Jeff W. Nechka (G.G., G.I.A.)
Premier Gems LTD
www.premiergems.ca
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