Silverman Consultants in the news.
Silverman Consultants – conducting event sales since 1945
Southern Jewelry News [ by Josh Tenery ]
These days, it seems that most Americans find themselves pinching pennies. With soaring gas and food costs, stretching a dollar has become less about frugality and more about survival. Living paycheck to paycheck means navigating an increasingly dense minefield of price hikes and opportunity costs. And what is true for the individual is no less so for the business owner. Decision makers across every industry are wrestling with the same question that consumers are contending with: “What do you do when there is less income than there is outflow?”
Some will no doubt determine that now is an expedient time to pack up shop and call it a career, either retiring or simply abandoning their business for another field. Sadly, many will find that walking away will leave them in a poor financial state, with many thousands of dollars in assets and merchandise on hand that they are unable to sell.
Fortunately, business owners in the jewelry community have a tremendous resource to call on in just such an event. For over 60 years, Silverman Jewelers Consultants has empowered jewelers to conduct event sales that aid in a variety of business transitions.
Silverman began in 1945 as the joint venture of brothers Manny, Louie and Jack Silverman. The business was originally conceived as a promotional company that would allow the brothers to employ their considerable marketing experience.
They began by consulting jewelers on how to market their stores – getting the word out about the store and developing a larger customer base. That instruction naturally evolved into promotional sales events during the 1950s and 1960s. In the more than 60 years they have been in business, they have conducted more than 6000 such sales and their business has blossomed to include inventory appraisals and store closing and retirement sales.
The business did well in the first forty years under the brothers’ leadership. In 1986, Ron Silverman, Manny’s son came on board and took the business to the next level. Silverman grew from conducting 40-50 sales a year before his arrival to conducting 150-200 a year under his leadership.
Ron hired Bob Epstein in 1988 to serve as the company’s CFO. Ten years later, when Ron retired in 1996, Bob became part owner and CEO. Bob shares ownership of the company with John Jones and Vernon Massey.
Who can be helped by Silverman Jewelers Consultants? Any jeweler looking to increase their sales volume and generate larger than average sales numbers can benefit from their experience. Whether a store owner wants to raise additional capitol for expansion, close unprofitable locations or liquidate their inventory for retirement, Silverman can help, often empowering stores to generate an entire year’s worth of volume during an eight-week promotional event. While wholesale auctions or selling a store may only garner $0.30-$0.60 on the cost dollar, Silverman’s promotional sales have the potential to generate $1.00-$1.30 on the cost dollar.
Jewelers looking to Silverman for sales support will find themselves inundated with experience and resources. Bob Epstein and his experienced staff will appraise the jeweler’s inventory, promote the sale to ensure high traffic, provide additional inventory to sell on consignment if the jeweler’s inventory is insufficient, bring in supplemental sales staff where necessary and provide an experienced sales supervisor – usually an ex-client – to help coordinate the sale once it begins. The end result is a sales event that leaves the jeweler in a much more advantageous financial position with the freedom to proceed with his plans, whatever they may be.
Silverman Jewelers Consultants can be reached at 800-347-3258 or found online at www.silvermanconsultants.com.