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Would You Rather Be Busy or Profitable?
June 13th, 2013
by Bill Boyajian

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What is the true value of jewelry repairs and inexpensive silver charms to your business? I believe jewelers frequently mistake being busy with being profitable. Don’t get me wrong. I like to stay busy, too. But I want to make sure that my business activities lead to profit, not just filling my time.

Most jewelers view the walk-in traffic they get from repairs as opportunities to sell. But few jewelers have ever analyzed the time and cost of building a repair business with the value they receive from making sales off those repair customers. I contend that repairs eat up a lot of your time and tend to distant you from selling fine jewelry. Many don’t agree, but I challenge you to analyze it in your own business.

Likewise, having to put on additional staff in order to make $25 retail sales with inexpensive silver charms is not a direction for most fine jewelers to take. You need to be increasing your average retail sale, not dropping it. Think about the time, floor space, and capital investment taken up with “selling down” to your customer. I’d rather invest in one large, fine diamond than a boatload of silver knick-knacks.

You may not agree and I welcome your challenge to my thinking.



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“I needed help orchestrating a succession plan for our business. I had heard that Bill Boyajian specialized in assisting owners to transition their business to the next generation. He knows how to bridge the generation gap and deliver what each needs to hear. I would recommend Bill to any business owner who needs advice on succession planning from a trusted outside professional.”

–Charles Denaburg,
Managing Partner,
Levy’s Fine Jewelry
Birmingham, AL

"Our family needed some guidance on business transition and succession planning. We asked Bill Boyajian to help us because we knew we could trust him to tell us what we needed to hear. Bill became a valuable resource for our company and our entire family. He has the ability to meet each of us where we’re at and it has served us very well."

–Ceylon Leitzel
Leitzel Fine Jewelry
Hershey & Myerstown, PA

“We needed a plan to transition our business to a non-family member and we asked Bill Boyajian to help us. His experience in the area has really paid off, but we didn’t expect the added value of putting us together with a financial planner who helped organize our retirement needs. We now have the fundamentals to transition our business successfully, and we have Bill to thank for it.”

–Ernie & Debbie Cummings
Kizer-Cummings Jewelers
Lawrence, KS