Jewelry store owner retires with sales 91% higher.
When Francis “Tiny” Andrews of Lavonia, Georgia, hired Silverman to conduct a final sale for her
57-year-old jewelry store, she had high hopes… and yet their store closing sale blew past
those expectations at the tune of several hundred thousand dollars.
Andrews Jewelers [Lavonia, GA]
Francis “Tiny” Andrews, owner of Andrews Jewelers in Lavonia, Georgia, hired Silverman Consultants to conduct a “going out of business” sale for the store, which had been in business for 57 years with an average annual volume of $422,000. Andrews was ready to retire, and her daughter was unable to run the store. The store also was in need of merchandise due to low inventory levels. Silverman thus created a professional sales plan designed to run for 10 weeks and brought in additional merchandise, budgeting for an internal sales volume of $350,000. Silverman also compiled a marketing plan, which included the use of print, radio, and sign walker programs. During these 10 weeks, the store, working with Silverman, achieved a sales volume in excess of $670,000, an increase of 91% over projection and an increase of 59% over Andrews’s annual volume. The additional products brought in by Silverman produced over $195,000 in sales at a gross margin to the client of over 49%. The sales generated substantial additional cash flow, offering the client a more comfortable retirement.