Three Things All Successful Retailers Do

Running a retail store can be difficult, especially if the store is independently owned and is not a chain. However, owning an independent store has many benefits because of the amount of freedom that an owner has with an independent store. The success of an independent store relies on a number of things. Here are three things that all successful retailers do.

Kenneth G Rare Coins
Kenneth G Rare Coins

Appointing a second in command of the store is something that all successful retail owners do. Delegating is important because the owner cannot do everything themselves. It is imperative that before choosing a second in command, that person is completed vetted. This means going through job history, interviewing candidates, and following up on references. The second in command should have some management and customer service experience.

  • Retailers always expect there to be some theft in their stores. The prices seen in stores reflect the expectation of losing inventory. Most retailers and business owners maintain a camera system where they can view the activities at the store. Having a POS (point-of-service) system running through a PC is advisable as well because it keeps real-time inventory.
  • Lastly, successful retailers draw and keep customers. Successful retailers are able to do this by having regular sales on certain items, developing benefits programs or membership options for clients, and by getting to their clients. If customers know the store owners and employees, they will develop loyalty and feel more inclined to come back.

Kenneth G. Rare Coins has been in business since 2007. They purchase and sell jewelry, coins and currency, and precious metals. Kenneth G. himself has been in the retail business for over 25 years.

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Three Marketing Tips for Selling Jewelry

Marketing a business is one of the many important aspects of running a successful company. Businesses need to market their products so that potential customers are aware of their existence. This is no different for jewelry stores, regardless of the fact if they are high-end or second-hand stores. Here are three tips for marketing jewelry and jewelry businesses.

Kenneth G Rare Coins
Kenneth G Rare Coins
  • Jewelry businesses best market themselves by presenting themselves in the correct manner. This means that a store or company needs to have a team of staff that treats their customers with respect and honesty. Marketing starts with face-to-face communication. The best kind of marketing is the free kind, and if you treat your customers well, they will tell their friends and your customer base will grow.
  • Because the best kind of marketing is the free kind, jewelry businesses need to take advantage of social media. Running a strategic Facebook campaign can inform a larger audience and is an opportunity for jewelry sellers to advertise holiday sales, events, and other special offers. It also a great way to stay in touch with customers.
  • Jewelry sellers should reach out to sale event websites and have them promote their products. This is a great way to reach out to a new audience base that may not have been aware of the company’s existence. Jewelers will have to offer a discount when using these sites, but sales numbers will increase.

Kenneth G Rare Coins is a buyer and seller of jewelry, precious metals, and coins. They have two locations in Mishawaka, Indiana.

Three Tips for Beginner Coin Collectors

Starting a collection is sometimes the most difficult aspect of collecting items for beginner collectors. Many experienced coin collectors, however, sometimes find that they once they have begun collecting and amassing their collection, expanding it is difficult. Beginners need to start out by gathering a base collection of coins, establishing their interests, look at their patterns and develop goals. Here are a few tips for beginner coin collectors who are now ready to expand their collection.

Kenneth G Rare Coins
Kenneth G Rare Coins
  • Coin collectors need to earn the trust of dealers and sellers. There are many dealers out there who are legitimate and are only interested in completing transactions that are genuine. Unfortunately, there are a small percentage of dealers who do not operate in the same mode. Coin collectors need to earn the trust of seasoned dealers so that they are getting legitimate coins and making fair transactions.
  • Coin collectors should work with coin dealers and dealing companies who have a large inventory. The most reputable coin dealing with the largest inventory is Littleton. They have buying power, excellent grading skills, to stock with their inventory within demand coins and rare or one-of-a-kind coins. Dealing with these types of companies is recommended because coin collectors know what to expect from these companies.
  • Coin collectors need to protect their purchases by including a full money back guarantee clause. This is a standard clause being offered in the market and coin collectors should expect a 30-day guarantee at the minimum. If a company or dealer is refusing to include this guarantee, steer clear of them.

Kenneth G Rare Coins buys and sells coins and currency, precious metals, and jewelry. They are experts in dealing with coin collections.

Three Tips for Selling Gold for Cash

Selling gold is an easy way to get some quick cash. According to an ABC report, the price of gold has been on the rise since the beginning of 2011, meaning that selling your gold per ounce will allow you to bring home a nice amount of cash. Sellers should beware of some buyers, though, making it important for sellers to do some homework before agreeing to a transaction. Here are three tips for selling gold.

  • Sellers need to understand how the scales work. Gold is priced by the ounce, the value of your gold is determined by its weight. Jewelers do not use regular scales. There are 28 grams to the ounce, and jewelers use a measurement called a Troy Ounce, which is equivalent to 31.1 grams per ounce. Some jewelers use a weight system called pennyweight and 1 standard gram actually equals. 1.555 pennyweight grams. This is an easy way for jewelers to pay less for the weight of gold.
  • Sellers should not let jewelers weigh gold of different karat value. The purer the gold, the more valuable it is, which is why sellers want to measure their gold in groups of karat value. This way they are maximizing the amount of money they bring home.
  • Sellers should call a local jewelry store or go to goldprice.org to find out the market price of gold on that specific day. This way sellers know the exact value of their gold before they go into the store and they can monitor the price of gold to determine which day is best to sell their gold. Sellers can maximize the value of their gold if they are patient. They could also lose money if they wait too long though.

Kenneth G. Rare Coins buys and sells precious metals, jewelry, and coins and currency. They have two locations in Mishawaka, Indiana.